Location: something we need to see, reportedly? (4)
I believe the answer is:
site
'location' is the definition.
(site is a kind of location)
'something we need to see reportedly?' is the wordplay.
'something we need to see' becomes 'sight' (you need your sight to see).
'reportedly?' shows a homophone (sound like) (I've seen 'reportedly' mean this).
'sight' sounds like 'SITE'.
(Other definitions for site that I've seen before include "Building land" , "Somewhere to build, perhaps" , "Where something is located" , "Designated place" , "Place for building" .)