Key Roles in Real Estate Transactions

You think you're selling to one person. You're actually selling to an ecosystem. Miss this and even the best product dies in implementation: You're building a product for real estate owners. But here's the problem: There's no role called "owner" at most real estate firms. Unless you're talking about small mom & pop shops, you're selling into institutional or PE firms. And they have completely different decision-making structures. Let me break this down: When you say "real estate owner," you could be talking to: Managing Director: • Makes the big strategic decisions • Controls the overall budget • Your ultimate decision maker • But delegates everything operational Asset Manager: • Runs day-to-day performance • Obsessed with NOI and returns • Often the gatekeeper for new tech • Reports up to the MD Property Manager: • Sits on-site managing the building • Handles all vendors and tenant issues • Has to implement whatever you build • Can kill your rollout if ignored Leasing Agents: • Drive all the revenue for the property • Commission-based and results-focused • Need tools that help them close deals • Will abandon tech that slows them down The mistake everyone makes: They pitch to whoever answers the phone. But here's the reality: • The MD controls the budget • The asset manager influences the decision • The property manager has to use it daily • The leasing team determines if it actually works Miss any of them and your product fails. Why this matters: Each role has different daily workflows, success metrics, and pain points. Property Manager cares about: Keeping tenants happy and staying on budget Asset Manager cares about: Hitting NOI targets and reporting clean numbers Managing Director cares about: Portfolio performance and investor returns Leasing team cares about: Closing deals faster and earning more commissions The lesson? You're not selling software. You're selling into an organizational chart. Success means understanding: • Who influences the buying decision • Who controls the budget • Who has to implement your solution • Who will use it every day Get the stakeholder map wrong? Even the best product dies in implementation. The bottom line: The best PropTech companies don't just build great products. They understand exactly who they're building for. And more importantly - they understand how those people work together. Because in real estate, the "owner" is actually 4-6 different people with different goals. Want to understand how real estate teams actually operate? Our "Fundamentals of Commercial Real Estate" bootcamp breaks down exactly how these stakeholder ecosystems work. 5-week live online course covering the roles, relationships, and decision-making processes inside real estate firms. Next cohort starts July 21st. Details on how to join are linked in the comments.

Property Manager vs Asset Manager Many investors lose money because they think these two roles are the same. They are NOT. Understanding the difference can protect your investment and increase your long-term returns. 🔧 PROPERTY MANAGER Focus: Daily property operations Responsibilities: → Tenant sourcing & screening → Rent collection → Maintenance & repairs → Handling complaints/issues → Lease renewals → Property compliance They answer the question: “Is this property operating smoothly today?” 💰 Common Fee Structure: Usually 8–12% of rental income. ━━━━━━━━━━━━━━ 📊 ASSET MANAGER Focus: Long-term wealth growth Responsibilities: → Investment strategy → Portfolio expansion → Acquisition analysis → Refinancing decisions → Risk management → Exit planning → Capital growth optimization They answer the question: “Is this investment increasing my wealth over time?” 💰 Common Fee Structure: Usually based on Assets Under Management (AUM). ━━━━━━━━━━━━━━ 🌍 GLOBAL REAL ESTATE INSIGHT In developed markets like the USA, UK, and UAE, these roles are clearly separated. But in many emerging markets, one person often tries to handle both. That may work for small portfolios But serious investors eventually need both systems in place. A Property Manager protects the property. An Asset Manager protects and grows the investment. Smart investors understand the difference. Which one do you currently use in your real estate journey one, both, or neither? _Amas (Oyenike Solomon) Global Real Estate Strategist | Advisor | Educator #AssetManagement #PropertyManagement #RealEstateInvestment #GlobalRealEstate #RealEstateEducation

What's in a typical Multifamily deal structure? ▪️ GPs and LPs: GPs find the deals, LPs put up the equity (GPs should put up some money as well, usually from the 1-2% acquisition fee). ▪️ Lenders: Agencies (Fannie, Freddie), Banks, Debt Funds, Life Insurance Companies. All have their unique characteristics (separate post). ▪️ GPs will usually have Acquisition, Asset Management, and Investor Relations departments (larger ones have separate portfolio management, valuations, insurance, and dispositions teams. Smaller ones combine these functions into the three main groups). ▪️ Property Management- Can be strictly third-party, JV structure where they have 5-10% equity (my favorite), or can be a subsidiary of the GP (vertically integrated). PMs charge anywhere from 3-4% of collected revenue (hybrid models are pushing these fees lower). ▪️ Construction Management- Either third-party or subsidiary of GP (another component of vertical integration). They charge 4-7% of total CAPEX budget. There are a bunch of supporting roles in the form of lawyers, brokers, accountants, and marketers but the above groups are what you'll typically see, and each are extremely important. Bad GP? Nothing can save the deal. Bad Lender? Not ideal. May lead to unnecessary cash traps. Bad Asset Management? Deal is toast. Bad Property Management? Lower NOI, lower refi proceeds/sales price/IRR. Bad Construction Management? Get ready to spend more $$ redoing stuff. Bad Lawyers? See you in court. Bad Accountants? Also see you in court. You get the point. Assemble the right team. Crush the deal.

ALWAYS HIRE A LAWYER: BUT REMEMBER NOT ALL LAWYERS ARE EQUAL -real estate talk 💰- -I've seen a trust account abused- -I speak with experience- "Engage a registered, experienced in conveyancing and competent commercial lawyer" When buying or selling property, understanding the roles of the two lawyers involved is crucial. Each lawyer serves a distinct purpose, ensuring the transaction is smooth, lawful, and protects the interests of their respective clients. Let’s break down their roles and responsibilities. ⚖️ 1. The Seller’s Lawyer The seller’s lawyer represents the property owner and handles matters related to transferring ownership. Their key responsibilities include: Drafting and reviewing the sale agreement: The lawyer ensures that the contract accurately reflects the seller's terms and protects their rights. Clearing encumbrances: They verify that the property is free from any legal issues, such as outstanding mortgages, liens, or disputes, which could affect the sale. Managing title transfer: The seller’s lawyer prepares and oversees the transfer of ownership documents to ensure they comply with legal requirements. Handling funds: They coordinate with the buyer's lawyer to ensure the seller receives payment promptly and securely. ⚖️ 2. The Buyer’s Lawyer The buyer’s lawyer represents the purchaser and ensures their investment is protected. Their responsibilities include: Conducting due diligence: This includes verifying the property title to confirm that it is legitimate and free from legal disputes or claims. Reviewing the sale agreement: The lawyer ensures the agreement aligns with the buyer’s interests and includes all necessary terms, such as timelines and conditions. Liaising with the bank: If the buyer is financing the purchase through a loan, the lawyer works with the bank to finalize funding and legal documentation. Registration: The buyer’s lawyer ensures/confirms that the property is now under the buyer’s name with the appropriate authorities including utility companies like Water PNG and PNG Power Ltd. Why Two Lawyers Are Necessary Having separate lawyers ensures that both parties' interests are independently represented. This separation reduces conflicts of interest and safeguards both the buyer and seller from potential legal risks. By understanding the roles of the two lawyers, you can approach your property transaction with confidence, knowing that the legal aspects are in capable hands. Always engage experienced lawyers who specialize in real estate to make your sale or purchase seamless and secure. Final Advice: Whether you are buying or selling, don’t skip the legal support. A good lawyer can save you from costly mistakes and ensure the deal is completed fairly. PLEASE SHARE IT 🙏🏾.