If you want to know how to become an apartment locator, then keep watching. I’ve been doing apartment locating since 2017. The first step that you need to do is to get your real estate license. You can do it in person or online, but what does an apartment locator actually do? So the reason we need our real estate license is because the apartment ends up paying us a commission when we refer people to them and they apply, move in, then we get a check from the apartment.
Being an apartment locator, you do not get paid hourly. You’re not on a salary and you’re not an employee. You are independent contractor. In mind that I’m from Texas and the following requirements are based off of taxes. But when I paid to get my real estate license, I paid, I believe, around 13. So I purchased a package with all my classes and the additional classes after unlicensed. So you could probably get your license for maybe $1,000, maybe 900. I wanna say I’ve seen it, but that’s just how much I paid. So once you have your license, the next step is to join a brokerage company.
So how much do apartment locators actually make? And I’m gonna try to break this down as easy as I can. And the honest answer is there’s not a particular amount that one can make. Everybody’s different. Everybody makes, depending on how many clients they help, every apartment gives you a percentage of the client that you refer to that apartment.
Each apartment will pay a percentage of their first month’s rent here in DFW. On average, you see anywhere low as 25% to 100%. So 100% of the clients, their first month’s rent. So getting paid and determining how much you’re gonna take home, there’s a lot of different factors. Brokerages take a percentage of that commission. Every brokerage has a different split. The broker takes out their percentage. Different brokerages have different split. They might have 64 display, 70,30,80,20. This is where you kind of interview different brokerages and you find out more. The way that the apartments pay, they actually take about anywhere from 30 to 90 to 120 days for them to pay you. It takes a while for you to actually see that money. And it’s from the day that the person actually moves in.
So for example, I helped somebody find an apartment to tour this Friday. They’re looking to move in September. It’s July. And these aren’t just numbers that I’m shooting out, but let’s say their rent, it’s gonna be $2,000. This property is paying 50% now, right? So that means they’re gonna write a check out to my broker for $1,000. If they paid 100%, sent a check for $2,000. Cuz that’s 100%. But because they switched it to 50, it’ll be now $1,000. So again, keep in mind, my broker still takes a percentage.
Now I am going to just give examples. These aren’t accurate, just examples. Let’s say my company takes 50, they sent out a check, thousand dollars, but my company now takes 50 of that. So then that means what I end up taking home is $500. So it just gives you an idea all every single client is different. It’s not the same, but that’s kind of just giving you an idea of what an apartment locator can make. I know certain locators who make over 10 grand a month, 15 grand. So that’s what you need to become an apartment locator. A little bit of what you can possibly make as an apartment locator. And hopefully this helps you in your journey.
Answer any questions, please leave a comment if you have any questions that I might have not answered. And I hope this was helpful. So please give it a like for me, letting me know that you guys got some value off of this and help me as well. Thank you.