Property Acquisition Officer

1 day ago


Johannesburg, South Africa Four Green Houses Full time

**Property Acquisition Officer Job Description**

**Salary: Basic plus Commission**

The Property Acquisition Officer sources, negotiates, and secure residential properties for investment purposes

This person reports to the Financial Director

Job Requirements:

- Own car
- Own laptop and cell phone
- Qualification: NQF4 plus Fidelity Fund Certificate
- Experience as a real estate agent or property manager will be most suited for this job
- Level: Junior to Mid-Level

Key Performance Indicators
- Identifying Property Investment Opportunities (desktop, telephonic and in-field)
- Negotiation Skills (price negotiation with sellers and real estate agents)
- Deal Closing and Negotiation Ability
- Administrative Skills (Organizing and Filing)
- Basic computer skills (Microsoft Office namely, Word, Excel, Outlook, and PowerPoint)
- Interpersonal Skills (Nurturing Stakeholder Relations)
- Excellent command for the English Language (Speaking, Writing, Reading, and Listening)
- Basic Accounting (High level feasibility studies on properties)
- Due diligence on acquisitions
- High level insights into the property investment markets and political and socio-economic environment

Role and responsibilities:
1. The property acquisition process

a. Conducting desktop research for the appropriate property acquisition

b. Briefing real estate agents and developers on acquisition requirements

c. Identifying distressed properties and urgent sales

2. Feasibility Study on Potential Property Acquisitions

a. Running the numbers and populating an Excel spreadsheet (on a provided template)

b. Drawing desktop property investment reports to establish rental demand, area adequacy, tenant delinquency level.

c. When desktop feasibility is achieved and it is still a good opportunity, visit the property before final acquisition is decided

3. Due diligence on the property

a. Obtain and analyse all supporting documents from the seller/real estate agent to confirm the feasibility study, for instance municipal statements, levy statements, rent rolls, current lease agreements in place and lease terms, body corporate financials

b. Understanding and interpreting the nature and circumstances of the sale, for instance why is the property on the market, is it a deceased estate, did a previous sale fall through, has the property gone to the auction and is now on the open market, etc.

c. Depending on the property type, are occupancy certificates and other municipal by-laws in place before acquisition

4. Negotiation of property acquisition price

a. All properties must be acquired below market value

b. Utilizing your knowledge of the property condition and sale circumstances to motivate your offer amount

c. Getting the seller to commit to the offer amount

5. The deal presentation to investors

a. Prepare a deal presentation to the investor, including property description, how the property speaks to the investor’s strategy, the feasibility and due diligence on the property

b. Send deal presentation to company directors for approval and presentation to the investor.

6. The Offer to Purchase

a. Read and interpret the offer to purchase and make sure you understand every clause clearly. Any uncertainties should be discussed with the Managing Director and/or Financial Director

b. Ask the right questions relating to the offer

c. Populate the basic information relevant to the sale

d. Include any suspensive and special conditions relevant to the offer

f. Once received back from the investor, send to the seller for co-signature

g. Once received back from the seller, send to the Operation Assistant to take over the process

7. General

a. Become an area and suburb expert

b. Weekly courtesy calls and follow ups with real estate agents/sellers

c. Compile a database of real estate agents and developers

d. Nurture relationships with real estate agents

e. Meet property acquisition turn around times

**Salary**: From R10,000.00 per month



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