When it comes to looking for a new apartment, people want to minimize the amount of work they have to do because as much as they want to inspect every single listing they come across in detail, they all have lives they need to live. Fortunately, that is what an apartment locator is for. These people have been making the lives of renters looking for a new apartment so much easier and a lot simpler for years now but being an apartment locator isn’t as simple as one might think. It’s not just all about knowing the best places in town or having a curated list of the best apartments in the neighborhood. If you want to try your hand in being an apartment locator, you have to be prepared to meet the requirements and build your career from the ground up. Here’s everything you need to know.
Simply put, apartment locators help find renters find a property that suits their needs whether it’s an apartment, a short-term rental, or a rental house. They often work with real estate owners to provide a list of great matches to the client and also to explain details about the property and the terms of the lease. In addition to providing them options, apartment locators also help their clients evaluate their choices and make the best choice. Their services are free for renters since they make money off of commissions provided by the complex they’re endorsing.
Yes. If you want to be an apartment locator, the first thing you have to consider is getting a real estate license. Each state may have different requirements to attain this license but in Texas, the requirements include 180 hours of real estate courses, passing both the state and national real estate license exams, and a fingerprint and background check. After attaining your license, to be an apartment locator in Texas, you can become active by looking for a broker that allows apartment locating to sponsor your license. Some types of apartment locating brokers include:
Traditional Brokerage
Traditional brokerages handle all the administrative aspects of being an apartment locator such as collections, invoicing, and accounts payable for you. They also provide training and leads and in some places, you might even be considered an employee with a set time and benefits. The only con to this type of brokerage is that you don’t get to keep your full commission. More often than not, they get to keep 70% of your commission to pay for the leads and overhead they provide to support you.
Independent Contractor Brokerage
In contrast with a traditional brokerage, an independent contractor brokerage will let you keep 100% of your commission but with a fixed monthly rate. However, this means that you have to handle your own invoicing and collections. You will also be responsible for any incentive you offer your clients. Although there will be leads coming from the broker from time to time, it won’t be as big as the ones traditional brokerages offer.
Hybrid Brokerage
These brokerages offer the benefits of both traditional and independent brokerages. They offer to take care of your invoicing, collections, and accounts payable while you’re still able to earn 100% of your commission.
There is more to creating listings and giving them to your clients in being an apartment locator. To be successful in the job and to be able to provide your clients a more than satisfactory service, there are skills an apartment locator should have and should continue improving.
This is one of the most important skills of an apartment locator. You have to be friendly, understanding, empathic, and be able to build relationships not only with your customers but also with property owners.
This is the ability to be able to maintain accurate records on the properties you’re endorsing so you can provide any information your client needs at any time.
You need to be able to understand what your client wants and to interpret their needs and preferences to provide them with the most suitable options.
When helping your clients make their decision, you have to be flexible and cater to their needs whether it’s providing them more details or providing them more options they can ponder on.
Having a basic understanding of marketing strategies and techniques will help push your deals along. You should know how to sell a property and discuss its pros and cons without scaring off the client and to make sure they understand you’re giving them the best options you have.