When I first started in real estate, we didn’t have anyone in acquisitions. Nobody was doing that, we were doing everything on our own, and we were basically just buying deals.
However, as our business grew and we started building different departments, we found the need for someone to do this job specifically, and that’s how we started having acquisitions reps.
Acquisitions isn’t easy to deal with, but it’s a job that makes bank when done right. You need to be focused and you need to be driven if you want to succeed. Watch this video to learn how you can be great at acquisitions so you can get more deals in your business!
Key Talking Points of the Episode
[00:38] Starting without a focus on acquisitions
[01:25] How we built a team for acquisitions
[02:14] You should be goal driven
[03:21] You should be money driven
[04:22] You should be open to things
[05:32] Why are sales in real estate different?
[06:35] You should be willing to start over again
[07:33] Your mindset on acquisitions
[08:26] How do you become strong in acquisitions?
Quotables
“We started bringing in different departments and creating boxes for people within the business, there are boxes of accountability.”
“Those salespeople had to have some type of job title, and their job title was to buy properties.”
“You could have one person or you could have a whole team.”
“When it comes to acquisitions, it takes a person that to me, is extremely driven on things.”
“A lot of people get really confused and they think you have to be this really great speaker who is always out there in crowds, meeting people. You don’t have to be that.”
“You have to be extremely driven towards goal, because otherwise, I can guarantee that you’re not gonna make it in the acquisitions scene.”
“Those acquisitions reps want to make a lot of money. They wanna come in, they wanna make bank, and they wanna do it over and over again.”
“It is a sales position. It is very heavily focused on the money side of things.”
“I think you gotta have some ego when you’re in acquisitions, but at the same time, you gotta make sure that you don’t come in thinking that you know more than somebody that’s done it before you.”
“The sales process might be the same, but overall, this is a much tougher business to work in because you’re dealing with such high emotions here.”
“You have to be in a position where you can talk to a seller, get cussed out, be told that you’re a complete a-hole, and basically be able to exit from that call, reset, and start over fresh again with a new seller in a matter of 10 minutes or so.”
“You gotta be focused on helping people out and creating solutions.”