Home Selling in Mystic>Question Details

Greg Broadbe…, Real Estate Pro in Mystic, CT

As a Seller, Should I let an agent put a lock box on my home? What is the best kind? Any other tips?

Asked by Greg Broadbent, Mystic, CT Thu Jul 26, 2007

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Everyone has made great points. I would have said many of the same things as already posted. In addition, use any electronic box that will provide a record of accessed the property. There are a few suppliers that meet that criteria. An alternative for sellers who want to know that no one will access the box/their house without approval or appointment, is a box with a single access code. This box comes with a list of one time use codes. An buyers agent must get the one-time code from the listing agent, when the appt is scheduled. They can't use the same code a second time. No buyer agent or buyers will ever be able to access the property without the listing agent's permission (in accordance with the sellers instructions).
2 votes Thank Flag Link Fri Aug 3, 2007
Deborah Madey, Real Estate Pro in Red Bank, NJ
MVP'08
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Hi There,

Yes. Putting a lockbox on your house is very important. This makes it very easy for buyers agents to access, as typically there are only 2 other options. Leaving the key at your listing agents office is one, which requires the buyers agent to stop by prior to the appointment. This can become increasingly frustrating as these days; we are showing multiple properties at a time. Prior to making our appointments, we map them out and calculate the distance and time needed to travel. So when we finally call to make the appointment and are told we need to come to the office to get the key (often times the listing office isn’t even in the same town we are touring) it can really through a wrench into the itinerary we just spent hours putting together. In that event, we have no choice but to take the home off the list for the time being. When that occurs, a seller runs the risk of the buyer(s) choosing one of the properties they were easily able to get into, thus never even seeing your home. The other option is to have your listing agent accompany your showings, which I don’t recommend either, as this creates a very uncomfortable feeling for the buyer(s). They don’t feel as though they can spend sufficient time touring the home, as they often feel rushed. Additionally, they don’t feel comfortable speaking freely with their buyer(s) agent, as they fear your agent will over hear, and he/she is required to share any and all personal information with you. Also, back the scheduling aspect of it: it is difficult enough to make sure you (the seller), the buyer(s) (sometimes 2) and their agent all coincide with each other to accomplish putting this appointment together and to throw a listing agents schedule into the mix, only makes this goal that much more difficult to accomplish. Best of luck to you in the sale of your home!!


Melissa Mancini, Realtor, CBR, GRI
Web Reference: http://MelissaBMancini.com
2 votes Thank Flag Link Thu Jul 26, 2007
With inventory high, making a home easy to show is important. There is nothing more frustrating to an agent, than a listing where the listing agent must be present or is difficult to show. Supra electronic lock boxes are secure and my recommendation.
1 vote Thank Flag Link Fri Aug 3, 2007
As a past seller - I can say that it was a blessing to #1 let the agent & buyer into my home without having to be there. They had easy access I knew when they would be there and the box provided the information I needed to know who exactly owned the "key" that opened my home.

#2 - I am sure without a doubt that the buyers appreciated the fact that I wasn't there to watch them enter my home much less be there when they wanted to envision themselves walking through the door of a home they could own. My presence would've clouded their ability to do that (in my opinion!).

So - although it is a personal choice in the end and what the sellers comfort zone is - but based on my experience it is a win win for all....
1 vote Thank Flag Link Thu Jul 26, 2007
YES, Provided there are no safety issues like kids at home alone after school or day sleepers. The lockbox lets the agents do their thing and allows them to run their showings on their schedule. You'll want to stash stuff that's valuable but the incidence of thefts is so low as to be inconsequential. The importance of this cannot be overstated. Unless you are selling something with genuine specialness...if you don't make it easy to show they'll go somewhere else. Inventories are up all over town, why put yoursef at a disadvantage?

The new generation of lockboxes allow for very controlled entry and log each entry to the minute. Further, they can be programmed to limit showing hours/days if need be and can even exclude certain agents if you have that need. Further they require a regular updating by the user (the agent) to be reactivated.

Juts be sure you are getting the real deal, a computer based system and not a mechanical combo box that is typically called a vendor box. I used to put a vendor box on my listings so that carpet guys and termite inspectors and such could get in but the new boxes here in San Diego have that feature built in. It took a few days to get the new system down but the new access control boxes we use are SWEET!
0 votes Thank Flag Link Sat Aug 4, 2007
I'm in full agreement with all who say YES to a lockbox - especially the blue iBox by Supra. It's the industry standard and tracks all entries should a problem occur.

I explain to my hesitant sellers that when I'm searching listings to view on behalf of my buyers, I skip those that don't have easy and convenient viewing access. It's rare that I make an appointment, especially now that inventory is so high. There is more than one perfect home for everyone, so I won't waste time on properties that are difficult to show.

One exception is a million+ property. Due to security issues, artwork, or other privacy considerations, I will field appointments and leave off the lockbox. I always expect this will be the case when showing properties in that price range as well.
0 votes Thank Flag Link Fri Aug 3, 2007
Lockboxes are almost a must.The security is so much better for thr realtor and seller rather than a key that can get misplaced or lost. I have had buyers to decide not to look at properties that didnt have a lockbox because of time constraints not allowing for me having to go to offices to pick up keys.In my area we use the key card and it has been successful
0 votes Thank Flag Link Thu Jul 26, 2007
That would be up to you. If you decide to use a lock box, make sure they use a secure one like SUPRA. It's an electronic lock box that only active Realtor's can use. It also captures their info.

I would also not recommend leaving valuables out in the open. Put valuables in a safe or any other storage.
0 votes Thank Flag Link Thu Jul 26, 2007
Herman Chang, Real Estate Pro in Palm Beach Gardens, FL
MVP'08
Contact
Greg,

I say no. My community is a gated private community where I excort all buyers (yes even other realtors) through my listings. There is no way that other realtors that do not work this community know all the information about the memberships, club house, deed restrictions, etc. Also most homes are upscale and all my listings deserve the attention that the listing agent can give. How does a realtor that has never seen a property before know all the details to properly sell it. I know when I "pick up a key" or use a lock box for someone else's lisitng I am at a disadvantage to sell it simply because I don;t know it. If you are going to list then you need to be committed to selling.

Linda J Sears

PS I have a team so someone is always available and can be at anyone one of my listings within 20 minutes.
0 votes Thank Flag Link Thu Jul 26, 2007
Most defintely !!! Denise is correct. You must do everything you can to make your property available to prospective buyers and their agents. The new electronic boxes allow setting specific time(s) of day for access and deny access at the other times of day. Entry is recorded for review when needed. The key pads are renewed once every 24 hours ( lost key pads will not renew ) without renewal the key pad is no good to anyone.

Good Luck !
0 votes Thank Flag Link Thu Jul 26, 2007
Yes, in this market you need to make it as simple as possible to access your home. The new lock boxes keep a reading of who has used it. The owner of the box can read the box at any time. The new electronic boxes, Blue
0 votes Thank Flag Link Thu Jul 26, 2007
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