We study supervisor localization for real-time discrete-event systems (DES) in the Brandin-Wonham framework of timed supervisory control. We view a real-time DES as comprised of asynchronous agents which are coupled through imposed logical and temporal specifications; the essence of supervisor localization is the decomposition of monolithic (global) control action into local control strategies for these individual agents. This study extends our previous work on supervisor localization for untimed DES, in that monolithic timed control action typically includes not only disabling action as in the untimed case, but also ``clock preempting action which enforces prescribed temporal behavior. The latter action is executed by a class of special events, called ``forcible events; accordingly, we localize monolithic preemptive action with respect to these events. We demonstrate the new features of timed supervisor localization with a manufacturing cell case study, and discuss a distributed control implementation.