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I had a conversation with my broker the other day about lock boxes. She doesn't believe in them because she says the agent is responsible for the house and anyone can go in without the listing agent knowing, and if anything is missing or damaged, the listing agent is responsible.
What So if a Buyer's Agent wants to show the listing, does your Broker want you to show the listing? Are there not requirements for only real estate agents to be able to use the Supra eKey? Each and every time someone enters my listing via Supra, I am advised to the name and contact information of the Agent.
Yes you are responsible for your listing, but you are not required to be the police too.
I am assuming your broker is referring to Supra Lock boxes and not a contractor's lock box. If an Agent's eKey is stolen or misplaced, Supra can deactivate the key. Even if the eKey is stolen, will the thief know the code to open the lock box? In my situation, I have a Blackberry eKey so the thief would have to steal my phone, steal my key fob and know my personal code for the eKey.
Sorry - the advice from your broker makes no sense to me.
In a general sense a lock box is pretty secure these days. I suspect that any broker that is recommending against them is using that as excuse for something else.
Maybe they had a situation where a property is in a rougher area and something really did go missing. Maybe they have reservations about allowing prospective buyers to go through properties with out being prepped. Maybe they lost their key are were reprimanded /fined by the local MLS.
I literally cannot imagine NOT using a lockbox on MOST properties -- to do so would almost certainly result in longer listing times and less sales.
A combo lockbox I agree with your broker. I wouldn't put one of those on my listings for everyone to enter. The supraboxes code which agent enters the house.
The only bad experience I had was an agent that left all the lights on and the door unlocked. I called her up, because the key coded she was the last one in the house and talked with her about it.
Honestly, the worst things I hear are at open houses. You do need to know that in some areas, like NY and Chicago it is NOT normal to use lockboxes. You need to make sure you are doing whatever is the norm for your area.
I may have misunderstood her, she did give me a website where I can get keys for them but I have to find out if its the norm here on Long Island in NY. Or maybe she just wants us to be present at every viewing. ICK.
I can definitely she her wanting a newbie to make an effort to get to as many showings as possible, and there is some value in that, but that is so that you get comfortable around buyers more than anything else I'd bet.
Early on it is hard to learn when you keep your thoughts to yourself and when to point out something. As you get a feel for which buyers have a good eye for details and which benefit from having things pointed out to them you will understand that there are only so many showing that you need to attend...
I may have misunderstood her, she did give me a website where I can get keys for them but I have to find out if its the norm here on Long Island in NY. Or maybe she just wants us to be present at every viewing. ICK.
Are we talking about iBoxes?
Or are we talking about contractor/combination lockboxes?
http://ecx.images-amazon.com/images/I/41VQXJW03XL._SS500_.jpg (broken link)
I always put a iBox on my listings. I am always present for unrepresented Buyers at my listings. If I have a property that is vacant and there is a lot of work that needs to be completed per the contract by contractors, I get permission from the Seller(s) to place a combination lock box. I then give the contractor the code.
If I had a vacant listing, I would never place a combination lock box on the property.
I once had a potential Buyer call me on the phone and ask me about my listing. She asked if it was vacant. I said yes. She then asked me for the code. I asked her what code? She said the lock box code. I told her that I only have iBoxes and if she needed to view the property, I would glad to show her. She said that her Realtor just gives her the code to combination lock boxes so she can see the properties herself. As soon as she said "her Realtor" I told her that "her Realtor" needed to let them in to view the property. She said that her Realtor was very busy and that I should show her the property. I told her to contact her Realtor to view my listing. Why should I spend my time showing my listing to someone else that is already represented and wants to see other listings that are not mine too? Lets see, you want to see multiple properties and when and if you find something that you are going to make an offer on, you will call "your Realtor"? Guess what, I don't work for you and you would not be paying me for my time so call "your Realtor" and tell he/she to work for you
The bad experiences that I have had in the past did not involve lock boxes, but at an open house. I always try to trial guests at open houses. You never know what their true intentions are. One time I had a house full and someone took my clients Ambien tablet out of her medicine cabinet.
Another time, a co-worker was having an open house and a trio walked in. He immediately felt uncomfortable and they tried to pre-occupy him while the others went rummaging through the personal belongings of the Seller.
Also, if I get a sign call on one of my listings and it is vacant and its over the weekend, I sometimes unlock the house and allow them to view the property as I stand on the front porch or I make sure that when I drive up the potential Buyer(s) see and hear me getting off the phone with a co-worker excusing myself to show the property (and I name the address). An Agent from another office was literally tied up and her car stolen when she showed a vacant listing after hours
I have to agree with the majority on this one. Unless a homeowner demands there be no lock box and / or that the listing agent is present for all showings, a lock box is needed. They are essential to get the max showings.
With the Supra systems - there's plenty of high tech tracking. Even on the basic combo lock box - the combo can be changed daily.
Additionally, each agent carries the required insurance (in Colo. it's required) and there is insurance when the supra lock box is used.
The bad experiences that I have had in the past did not involve lock boxes, but at an open house. I always try to trial guests at open houses. You never know what their true intentions are. One time I had a house full and someone took my clients Ambien tablet out of her medicine cabinet.
Another time, a co-worker was having an open house and a trio walked in. He immediately felt uncomfortable and they tried to pre-occupy him while the others went rummaging through the personal belongings of the Seller.
Also, if I get a sign call on one of my listings and it is vacant and its over the weekend, I sometimes unlock the house and allow them to view the property as I stand on the front porch or I make sure that when I drive up the potential Buyer(s) see and hear me getting off the phone with a co-worker excusing myself to show the property (and I name the address). An Agent from another office was literally tied up and her car stolen when she showed a vacant listing after hours
There is another thread about the senseless murder of an real estate agent at a foreclosed property. The calls off the sign are very very very much part of the safety issue. Staying outside the property and in contact with others via cell phone can literally keep one alive...
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So if a Buyer's Agent wants to show the listing, does your Broker want you to show the listing? Are there not requirements for only real estate agents to be able to use the Supra eKey? Each and every time someone enters my listing via Supra, I am advised to the name and contact information of the Agent.
Safety is paramount!
