Apartment Locating: The High Paying Job No One Knows About
When you think about real estate agents you typically think of buying or selling a house. However, you may be completely unaware of another side to it. Apartment locating. If you have never heard of this I would suggest you continue reading this article until the end.
What Is an Apartment Locator?
An apartment locator is a licensed real estate agent who gets paid a commission for finding and referring their clients to the apartment of their dreams. Some locators also work in residential real estate but most focus solely on leasing apartment complexes in the city they live in. They make money only off of commission and do not get paid a salary or hourly rate.
Apartment locators can work for themselves or a broker. There are pros and cons to both sides. If they work for themselves they would receive 100% of the commission but they also have to handle the accounting side of following up and getting paid from the apartment complexes. If they work for a broker more than likely their broker handles all the hard stuff, might give them an office space, an established name to start under and much more but they will take a portion of the commission said locator earns each month.
Why Should You Use an Apartment Locator?
First and foremost, it’s FREE! As stated above, locators get paid by the apartment complexes for referring you. Now you might be thinking, why would they pay locators when countless people are looking for apartments every day and could find it on their own?
Apartment locators are professionals in their craft. They know the apartment complexes in their city like the back of their hand. They do hours and hours of research, touring apartments, finding great move-in specials, and more. Locators will listen to everything you want and need in an apartment from the style, price, area, and size. They also take into consideration your background and will match you with the best options for you. Apartment complexes know there are hundreds of places to choose from so most don’t mind paying locators for bringing new clients to their complex who probably would not have found it on their own.
Another great reason to use a locator is most offer an incentive for working with them. Not only is the service free but based on the property you choose they will offer things such as free movers or a gift card.
Lastly, you should use an apartment locator for convenience. Looking for an apartment on your own can be extremely stressful. Most people will take the first one they can find and call it a day not knowing they could’ve had a higher quality apartment for the same price or a lower monthly rate just by consulting with a locator who stays on top of the ever-changing market every day. The process is simple and saves you time and money.
Bottom line, if you’re looking for an apartment, you should use a locator.
Where Can I Find an Apartment Locator?
This will vary from city to city. Some cities don’t have apartment locating services but hopefully that will change as time goes on. You can quickly google apartment locating for your city and see what comes up. You can also check places like Instagram or Facebook for ads posted by locators of current deals in the market you might be able to take advantage of.
If you do by chance live in San Antonio, Texas, and need an apartment be sure to check out San Antonio Apartment Insider on Instagram. I will link it below.
They also have another page if you live in Houston, Texas called Houston Apartment Insider.
How Can You Become an Apartment Locator?
If you are interested in becoming a locator you should look into getting your real estate license. You’ll have to take a few classes and pass a test to get your license but after that you’re ready to go! You could go about it on your own or join an established team and/or company in your area. If you know someone who already is an apartment locator ask them a few questions to see if it would be a good fit for you.
How Much Money Do Apartment Locators Make?
Like all sales jobs, it varies. It all depends on how much time and effort you put into it. If you’re just starting, expect to make very little until you understand what you’re doing, have gotten some product knowledge, and have recruited some clients. It can take a couple of months. If you have been doing it for a little while or even years it can vary from a few hundred dollars to thousands of dollars every month.
Some locators just like to make a little money on the side and others who have invested everything and can make $10,000, $20,000, or even $50,000+ a month from apartment locating. (These numbers are not fabricated. I know locators who make an insane amount of money from this profession.)
As stated above it depends on how much effort you put into your business. Things take time and the great thing about commission-based jobs is not having set hours. You can work as much or as little as you like. You are the boss and are in charge of your success.
If you have any questions or would like more articles on this subject be sure to comment down below.
This article is for informational purposes only, it should not be considered Financial or Legal Advice. Not all information will be accurate. Consult a financial professional before making any major financial decisions
