Asset Manager / Ten-X

CoStar Group is the world’s leading provider of information and marketing solutions for the Commercial Real Estate industry. We are a NASDAQ listed company with a market cap of over US$30B and sit alongside other notable names such as Amazon, Facebook, Google and Apple.

As a technology company, we are the trusted partner for all commercial real estate professionals empowering many of the most well-respected landlords, development companies, brokerage firms, banks, lenders, investors and government agencies.

We do this by actively researching the commercial real estate markets and providing data, analytics, innovative tools and powerful marketing platforms in the U.S. and Internationally to help our clients transact with one another. CoStar continues to win multiple awards including one of Forbes most innovative companies (2017) and Fortune’s fastest growing companies (2018).

Ten-X Commercial, a CoStar Group Company, is the world's largest online commercial real estate marketplace, conducting more transactions via an online auction format than any other platform in the world.  Ten-X recently surpassed $24 Billion in closed transactions, averaging between $2-3 Billion in closings each year since inception in 2009.  Ten-X assists commercial owners and brokers in selling and closing transactions through worldwide marketing campaigns and a best in class process which provides transparency, efficiency and expedited selling and closing time frames.

The Asset Manager is the main support role for sell-side positions, responsible for working with the Sellers, Brokers, and Buyers throughout the lifecycle of assets on the Ten-X platform, including during asset onboarding, the marketing period, and through the successful sale of the asset. The Asset Manager is responsible for overseeing and managing all aspects of CRE transactional activities necessary to provide a smooth and professional experience to Sellers and Brokers. This role is a customer-facing role with focus on process and operational items in addition to customer experience.

Specifically, the Asset Manager is responsible for managing a wide range of (a) operational functions throughout the real estate transaction process, and (b) supporting the company’s mission to become the preeminent online marketplace for real estate sales. The position requires a working knowledge of commercial real estate, in addition to interpersonal, organizational, technical, and analytical skills to achieve superior sales execution through operational excellence and efficiency.

This position is responsible for onboarding commercial real estate assets to the Ten-X platform, as well as coordinating logistics and communication with Sellers and/or Brokers on the sell-side required for a successful transaction.  Once a seller and broker are ready to onboard and list assets with Ten-X, the Asset Manager professionally facilitates the process of bringing those assets online with support from the Operations team and through the use of various internal systems, which are collectively and interdependently used to input, store, and organize all data, descriptors, photographs, due diligence documents, and any other variables necessary for assets to be placed on the Ten-X platform for public viewing.

Additionally, the Asset Manager collects and reviews all commercial real estate due diligence within a compressed timeline from the Business Development Associates, Sellers, and Brokers. The Asset Manager must regularly coordinate and support the scheduling of recurring update calls with Sellers, Brokers, and Business Development Associates, while preparing structured reports for recurring calls.

RESPONSIBILITIES:

• Responsible for overseeing the onboarding of commercial real estate assets to the Ten-X platform and ensuring assets are ready to be sold via auction.  Act as the single point of contact and own the life cycle of assigned account transactions from onboarding, marketing, sale and close of escrow.

• Manage the day-to-day transactional and customer support functions related to pre-event, event, and post-event activities for all assigned Sellers and/or Brokers on the sell-side.

• Review initial onboarding of assets completed by the Operations team; collect, analyze, and organize additional due diligence, data points, descriptors, photographs, other system-required variables and marketing material in order to showcase all property page(s) on the website optimally.

• Work closely with Marketing and Operations team to ensure accuracy of marketing collateral for each assigned asset, including, but not limited to, the property webpage (including photo gallery, property details/overview, broker info), event marketing brochure, and signage.

• Conduct a “kick-off” call with all stakeholders, including Brokers, Sellers, Business Development and Marketing Associates, to discuss the sales process, expectations, and deadlines.

• Oversee the review, finalization, and publishing of 3rd party reports. 

• Ensure Purchase and Sale Agreements and Title commitments are prepared and finalized two-weeks prior to the auction date.

• Understand the value drivers of the asset being sold including market strength/ weaknesses, stability/ variability of cash flows, capital needs, environmental concerns, and reduce investor risk by gathering and providing as much information as necessary to underwrite the transaction.

• Successfully manage and organize weekly seller update calls, which entails gathering market feedback, guidance, and analytics, as well as requesting any missing diligence materials.

• Serve as a dedicated resource for Sellers and guide them through the Ten-X process in a professional and transparent manner.

• Engage with all interested investors, helping build an investor profile by saving relevant information to internal systems, and determine level of interest, pricing guidance, and items needed to participate in the auction.

• Minimize, to the extent possible, auction surprises by communicating auction expectations including number of bidders and pricing guidance, to the Auction Manager.

• Manage the auction for the seller on auction day to include placing bids, changing increments, conducting auction day call (“qualifying the deal”)

• Effectively communicate and promote the benefits of the Ten-X platform to Sellers, Brokers, and Buyers, educating them on the nuances of the Ten-X platform and the various transaction methods (i.e. Live Bid, Managed Bid).

• Produce, review, and interpret reports as necessary for various stakeholders.

• Work productively and collaboratively with other business units, such as, Business Development, Contracts/Legal, Title/Escrow, Marketing, and Operations to ensure maximum chance of successful marketing, sale and closing of assigned assets.

BASIC QUALIFICATIONS

• Bachelor’s degree or an equivalent combination of experience and education

• 3 years of experience with commercial real estate transaction management, escrow and/or mortgage loan sale transactions including timelines, required documentation, and disclosures.

• 3 years of demonstrated analytical and organizational skills, attention to detail, and ability to handle confidential material within the CRE arena.

PREFERRED QUALIFICATIONS

• Real estate broker or salesperson license a plus

• Intermediate/advanced Microsoft Excel skills and basic knowledge of other Microsoft Office applications.

• Demonstrated sales support and consulting capabilities for real estate assets.

• Experience in communicating effectively both written and verbally with internal and external parties (i.e. Sellers, buyers, and Brokers).

• Should be a self-motivated, organized individual, with a keen ability to multi-task at a high level and make independent decisions with minimal supervision. 

• Understanding and Mastery of specialized internal databases and reporting systems to provide relevant data and information to Sellers, Brokers, and the Business Development team quickly.

WHATS IN IT FOR YOU:

Working at CoStar Group means you'll enjoy a culture of collaboration and innovation that attracts the best and brightest across a broad range of disciplines. In addition to generous compensation and performance-based incentives, you'll be supported in both your professional and academic growth with internal training, tuition reimbursement, and an inter-office exchange program.

Our benefits package includes (but is not limited to):

• Comprehensive healthcare coverage: Medical / Vision / Dental / Prescription Drug

• Life, legal, and supplementary insurance

• Commuter and parking benefits

• 401(K) retirement plan with matching contributions

• Employee stock purchase plan

• Paid time off

• Tuition reimbursement

• On-site fitness center and/or reimbursed fitness center membership costs (location dependent), with yoga studio, Pelotons, personal training, group exercise classes, as well as Segways and bikes available for use during the day

• Complimentary gourmet coffee, tea, hot chocolate, prepared foods, fresh fruit, and other healthy snacks

We welcome all qualified candidates who are currently eligible to work full-time in the United States to apply.  However, please note that CoStar is not able to provide visa sponsorship for this position.

CoStar Group is an Equal Employment Opportunity Employer; we maintain a drug-free workplace and perform pre-employment substance abuse testing