What do you all think of locators. Like/hate/ necessary evil?

I am an apartment locator in Houston and I would be interested in knowing the various thoughts all of you have of locators and why. Like/hate/ necessary evil? Don't be bashful, I can take it.

I personally don't think today's younger renters need or want you. Everything they could ever need is available to them via the internet and they don't want the relationship aspect, they barely want to call us as it is much less work one on one with someone.

You were needed much more by yesterday's renters because they didn't have all the information at their fingertips like today's renters do. You had that information. The best locators were the ones that really knew the ins and outs of all the communities they served nearly like an employee of the property would, and they created close relationships with us.

With that being said I believe locators have a space, I just think you need to rethink who your client is. Because we are in the information age, your information is not valuable. TIME however is valuable, and to clients that have the means but not the want or desire to do the research - you would be valuable to them. So maybe today the model changes, the prospect becomes your client and pays you instead of the property and you provide a service to them - you do all the legwork for them and present them with where they should live. I pay to have everything done for me, for things to be delivered to me, for just about anything if it means I don't have to do it myself. Of course I would pay someone to find an apartment for me.
TLDR: You should reassess where you are valuable. The market and consumer are much, much different today.

I think if you get a great relationship with a locator that is not shady, its a win-win.

As a leasing consultant I appreciate Locators who are equally knowledgeable about the market. Many times Locators will contact the property and ask as many "generic" questions as a prospect would independently. I thought Locators knew more about the properties in the area and "narrowed down" the prospective community based on clients needs. And forgive me for saying so but they're always hurried and expect to be put ahead of other prospects who do the work themselves. So I've been curious as to what advantage a locator is for the prospects and the property if I'm doing all the narrative. I've been on tours with locators and prospects where the locator didn't offer any selling points or insight into what the prospect is looking for and let the leasing consultant do all the talking knowing that we are amongst a list of possibilities. It just didn't seem like a cohesive sales strategy. I'm merely suggesting how much information locators need to know about a community. I wish they had a more comprehensive list of information so that "the locating" leg work is done beforehand. ie, floor plans, amenities, pet policy, parking, price and availability. Specific details like promotions, application criteria , and a tour is all the prospect needs from a leasing consultant to make a final decision. Overall a locator could provide a tailored service similar to that of a real estate agent selling a house. And to reiterate what Tanya Artz said about the virtual information being so accessible. Most properties have detailed websites to research a prospect needs, and everything else the individual property is always ready and willing to offer; daily pricing, availability, and specific information on criteria. We are a HELPING industry

Thanks for the feedback. Yes, i require my agents to tour properties every chance they get to know the market and what the properties have to offer and to see what sort of client to send there. In Houston, we have software companies that offer full descriptions, pictures and complete info on just about every property--so they shouldn't be asking silly questions. Policies seem to change constantly and often we are working with less than perfect clients so we need to double check to make sure we are sending to the right place.

As far as the touring goes...if i am touring with a very capable leasing agent I generally keep my mouth shut. Often times they have a rhythm to their sales pitch and tour and I don't want to get in the way. However, if the leasing agent is just a glorified tour guide and is not even talking as we walk to the unit, I will point out different aspects that i know my client wants or will like.

The difference is how much the locators are paid, the properties that they seem to help most pay 100%. They get the whole amount of rent for one month as opposed to the leasing consultant gets maybe $100.00. Whether the locator is there to tour their client or not. Mostly not. Then I love when they call and want to know what apartment their client leased. Wouldn't they call the client for this info? Remember all information on clients that lease is confidential.

Most of our time is spent trying to get hold of our client to find out what they ever did and if and where they leased. I often feel that i lose 2-3 leases a month simply because I could never find out what the client ever did. people are weird sometimes: they lease, use me as a referral in the correct manner but simply won't return calls, texts, emails etc. as afar as confidentiality goes--we are agents in the transaction and if we are listed on the application there is no supposition of confidentiality. This is something we go around and around with some management companies. Also, some properties pay us 100% but we also have to split that with our Broker and we are 100% commission-there is no hourly pay. thanks for the feedback

this is a very interesting topic because it was my understanding that locators knew more about where their client lease. That explains why locators call us semi-frantic asking did so and so lease an apartment. I’m sorry I didn’t realize they were chasing their commission LOL. I will create a spreadsheet to help keep track of prospects who lease through locators. It will also help with our traffic reports.

Col E Tta I can tell you, if you call a locator and tell them their client came by-even if they didn't lease--you will be the Locators go to property and just about every client they get, they will check to see if your property is right for them!

I don’t like it when the first thing asked is what are you paying locators

Yes, I agree,,, please ask a couple of questions before asking what are we paying!!

Leigh Ann Garland I used to get annoyed by that too then I remembered they are Real Estate Agents working on commissions. Just talk to the broker or Office Manager about the referrals and relationship with your locators. They really do help if your occupancy drops unexpectedly or you’re trending low in a month or two. In my market we need all the traffic/ leases we can get...it’s getting so competitive, we’re the Northeast Miami LoL

In California, you would need to have a real estate license to do what you do, and with our supply (low) and demand (high) issues, property managers/owners do not need to pay locators. I think the only locators people work with are in super high end market ($10,000+/month rentals), and the tenant pays them, or it is negotiated more like a real estate transaction and the locator is paid a commission. Maybe corporate housing locators, but they work for huge corporations, and negotiate leases for their employer, who then house their employees and sometimes on a revolving basis. But in my 20 years in the "average" rental world, I have only seen two locators, and both were paid by the tenant. They are not really a thing here.

In NY you need a realtors license and with the rents as high as they are, no one wants to pay, first, last security deposit and realtor fees

I have often wished that leasing agents and locators could spend a week doing each others job- just so everybody understands what the other end of the phone is going through. I have heard leasing agents talk about how locators don't do anything but throw a bunch of info into a computer and then send an invoice. Often these same leasing agents complain we are also calling them too much. I also hear complaints in my office about leasing agents and why they don't do such and such and I tell them that they need to walk a mile or two in a leasing agents shoes to see what they are going through

Paul Murany interestingly enough when I first started in multifamily I was asked to prospect to my locators. I took collateral and a goodie bag. This was my first introduction to the services exchanged and offered by locators. This is for the Jacksonville Florida market where in the last 72 months our market has grown by over 25,000 units and a revenue of plus $30 million. With that kind of expansion in our market locators are a commodity and treated very well. I have been in other markets like Daytona, Orlando, in that small market in Harris county Texas where locators were not regarded. I’ve also learned that the locator relationship is dictated by the management companies. So even in those markets not every management company utilizes the relationship or recognizes the needs of locators. If I was a licensed real estate agent I think I would enjoy the work that locators do.

Paul Murany with the information available in today’s market, the locaters are not needed as much as they once were! In recent years we mostly get calls from locators wanting to know if we work with felons or broken leases? Um no thanks!

No harm, no foul. If you have low occupancy, it may fill a unit. Just make sure the property approves the lease

I love locators when they actually do the work and lease the apt. I hate locators that call and say they are sending someone and do not come with them.

I dont like when they don't follow up with their clients and call all over the place to see if they leased. Or they send confirmations for people that never walked through my door. There are a lot of good ones though!

Yeah...generally when locators call its because they simply can never reach their client. Sometimes clients just disappear and often they lease without ever letting locators know. We call and call, text, email-everything and they simply won't respond. Thanks for the feedback!

Paul Murany or they were offered more incentives from another locator. They should at least have the courtesy of letting you know they are moving and or where they landed.

the same with any business...we love the ones who are honest and who do their jobs.