How to Maximize Commissions With Apartment Locator Software 

It’s no secret that the housing market has seen a slump in sales while home prices continue to rise. Interestingly enough, this has resulted in some real estate agents switching to the apartment locator side of the market. 

This is because while the buying market struggles, the demand for leasing remains high, mostly because renting is more affordable than buying. As a result, many buy-sell real estate agents opt to become apartment locators and make the most of the demand. Other reasons they are making the change include:

  • Transferable skills: What makes the transition easy for most real estate agents is that the skills they use in the real estate market are also useful in the apartment locator market. Their ability to work independently, follow up on leads, and communicate effectively are all skills that are useful in the locator space. 
  • The resilience of the rental market: Rising housing prices, economic uncertainty, and federal interest rates can all have a huge impact on the sale of homes. However, leasing—especially multifamily leasing—has proven extremely resilient to economic challenges. This is ideal for an apartment locator. 
  • The allure of apartment locating: Apartment locating offers freedom and economic certainty for the experienced and skilled real estate agent. This can prove extremely appealing, especially if the apartment locator has the right tools to help them. 

As a real estate agent makes the change to becoming an apartment locator, they will need a tool to help them find multifamily apartments and provide them to potential tenants. No tool is more essential to the locator than apartment locator software. 

Apartment locator software like that from SMART Apartment Data is an absolute game changer. With this software, manual property searches involving calling communities to find out what amenities they have and their requirements for tenants are a thing of the past. 

Furthermore, one can easily filter properties to find the ones with the highest commissions, which is essential for any locator. That’s what this article is about: showing you how you can maximize your commissions as a locator using apartment locating software. But first, let’s seek to understand how exactly commissions work in the multifamily industry.

How Commissions Work and the Importance of Smart Locating Apartment Software

As an apartment locator, commissions are at the core of your business. They are your salary; you cannot make ends meet without it. This is why you must understand how they work and how you can maximize your commissions via smart locating apartment software. 

As an apartment locator, your commission is what is paid to you for connecting a renter to a multifamily property. However, the conditions required to pay the commissions are only met when a renter has signed a lease agreement. So, as a locator, you must do two things effectively: 

  • Find the best apartment for your potential client
  • Find the apartments with the most commissions

There are a series of factors that will affect your commission rate, and these include: 

An apartment locator who is using smart locating software to find apartments with the best commissions and recommend the best ones to her clients.
Different cities and states offer different commission rates to locators.
  • Location: Different cities and states offer different commission rates to locators. Apartment locating software like that from SMART Apartment Data not only gives you all the apartments per your client’s unique needs but also enables you to find and sort all properties by commission.
  • Property type: Different housing classifications will affect the commissions offered. For instance, a multifamily property with an A+ housing classification might have a higher commission than a C housing classification. This is because the rent prices are different. Therefore, the commission from the A+ multifamily community will be higher. However, one must remember that finding tenants for higher-rent communities tends to be more challenging.
  • Payment methodology:  As a locator, you will earn your commission in one of two ways. You will either be paid a percentage of a month’s rent (can typically be 100%) or earn a flat commission rate, regardless of the amount in rent. It’s up to you to decide which you prefer, and apartment locator software can help you know which apartments offer the commission type you prefer. 
  • Time: Apartment locating can be a part-time or a full-time endeavor. However, you will mostly reap what you sow. You will earn more if you spend more time finding clients and matching them with the apartment they seek. If you only do it part-time, you will earn less. It’s just that simple.
  • Lease term: The duration of the lease can significantly impact the commission earned by apartment locators. Generally, shorter lease terms, like a one-month lease, tend to offer lower commissions, while longer lease terms, such as a 12-month lease, often provide the highest commissions. Utilizing apartment locating software from providers such as SMART Apartment Data can be highly beneficial for locators. This software displays the various commissions available for different lease terms, enabling locators to make informed decisions and maximize their earnings by focusing on properties with more favorable lease terms.

SMART Apartment Data’s apartment locator software provides several advantages that make it extremely important to your apartment locator success. These advantages include:

  • Efficient: Gone are the days of making manual calls to verify property amenities or physically visiting a multifamily community. This multifamily locating software gives you immediate access to a vast database of apartment features, amenities, and tenant requirements. Filter through thousands of apartments and find the best one for your clients. 
  • Accurate data: Perhaps the greatest advantage of choosing SMART Apartment Data’s locator software is the accuracy of the multifamily data. With a team constantly updating its database, you can rest easy knowing that the data you are looking at is up-to-date, with a regular 30-day update schedule, making it a leader in the industry. 
  • Personalized searches: A database of multifamily properties is not as helpful if the information cannot be filtered to suit the user’s requirements. SMART Apartment Data’s software takes this a step further by enabling locators to create custom searches for clients and save them. Furthermore, should they choose to do so, they can create a list of their recommended multifamily apartments and share it with their client.
  • Cost effectiveness: Apartment locator software must be affordable for beginner and experienced locators. SMART Apartment Data offers affordable pricing that can scale its features to meet the needs of small and large apartment locator businesses. 

With the right software, you, as a locator, can immediately filter through properties in your area of interest and find the ones with the highest commissions. However, to effectively do this, you need a multifamily data provider whose data is always up-to-date and reliable. A data provider such as SMART Apartment Data.

Reach out to us to unlock the most comprehensive source of multifamily data and elevate your business insights.

How Apartment Locators Can Choose the Best Locator Software for Their Needs

It’s clear that apartment locators need to make the most commissions they can while providing their clients with the best options in multifamily properties. If they want to save themselves money and time, it is prudent that they use an apartment locator software in their search. However, how does one ensure they choose the best software for their apartment locator services?

Here are some key considerations when choosing this software for your locator business: 

One of the many apartment locators in the US using SMART Apartment Data's locating software.
As a locator, you want your apartment locator software to integrate with other tools you use, such as CRM systems and email marketing platforms.
  • Understand your needs: As an apartment locator, take a moment to consider what you really want from your smart locating apartment software. Are you a solo agent or part of a larger team? Do you specialize in luxury apartments or affordable housing? Understanding your niche will help you narrow down the features you need.
  • Check the software’s ease of use: The best software is user-friendly. It should have an intuitive interface that doesn’t require hours of training. Remember, time spent learning the software is time away from serving your clients.
  • Verify the database size and quality: Ensure that the software provides access to a comprehensive and up-to-date database of apartments. It should also allow for easy filtering based on client preferences such as location, price range, and amenities.
  • Check the software’s integration capabilities: As a locator, you will most likely be using more than one tool in your business. Therefore, you want your apartment locator software to integrate with other tools you use, such as CRM systems and email marketing platforms.
  • Look for mobile accessibility: Being on the move is a part of an apartment locator’s job. Therefore, choose software that offers a robust mobile version or app, allowing you to serve your clients from anywhere.
  • Consider the pricing: While going for the cheapest option is tempting, remember that you often get what you pay for. Consider the software as an investment. However, ensure that there are no hidden costs and that the pricing structure aligns with your business model.
  • Read reviews and recommendations: Check online reviews and seek recommendations from fellow apartment locators. First-hand experiences can provide invaluable insights into the software’s performance and reliability.
Reviews from fellow apartment locators
An image showcasing some of the reviews from fellow apartment locators.

Choosing the best apartment locator software takes more than just ticking off features from a list. It involves taking into account crucial factors that significantly impact your success as a locator. 

How SMART Apartment Data’s Apartment Locator Helps Maximize Your Commissions

As we conclude, it is worth mentioning how SMART Apartment Data’s apartment locator software can significantly boost your commissions as a locator:

An apartment locator on a call with one of her clients.
If you are an apartment locator looking to maximize your commissions, SMART Apartment Data’s locating software is for you.
  1. Targeted marketing: With SMART Apartment Data’s Apartment locator software, targeted marketing becomes a breeze. Instead of sifting through countless listings, locators can now zero in on properties that align perfectly with their client’s criteria. Once they have a list of apartments that would interest their clients, they can effortlessly email them a custom link where the client can view the listings and choose the one they like. The best part of all this is how scalable it is, meaning you could easily do this for hundreds of clients per day.
  2. Efficient time management: Thanks to the user-friendly interface and readily accessible data on multifamily properties, locators can easily browse properties with the highest commissions and meet their client’s demands.
  3. Built-in commission verification: With its built-in feature, locators can effortlessly verify the commission rates before sending out an invoice. This eliminates potential discrepancies or misunderstandings, ensuring that locators are adequately compensated for their hard work.
  4. Sales assistant tools: The SMART Apartment Data mobile app offers real-time proximity information, making it easier for agents to find nearby management offices and get details about newly constructed properties. Also, the lease verification tool streamlines the process of confirming lease agreements—ensuring that agents receive their rightful commissions—while the lead generator tool is extremely valuable for agents looking to expand their client base.
  5. Regular commission updates: A standout feature of SMART Apartment Data’s apartment locator software is its regular update of commission rates. In most cases, commissions are updated twice a month. This ensures that apartment locators are always informed of the most current commission rates, allowing them to maximize their earnings potential.

If you are an apartment locator looking to maximize your commissions, SMART Apartment Data’s apartment locator software is for you. 

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