Dear Phyllis,
I am now the trustee of my parent’s Washington state home and am now interviewing Realtors. Because the home is vacant, one Realtor suggested a lockbox as this will make it easier to show. The other prefers that he or someone on his team be there to personally see the potential buyers. Although the home is vacant my parent’s furniture and items are still there. Can you provide some insight into lockbox pros and cons?
To Have or Have Not
Dear to Have,
I am not comfortable addressing real estate sales tactics in other states, but I can address the pros and cons of having a lockbox in our community.
Homeowners always have the option of not using a lockbox. In today’s heated market, many homes are shown exclusively by appointment or through open houses. This allows the listing agent to personally meet the potential buyers and their Realtors. In multiple offer situations, this can be very helpful in determining who is likely to be the most motivated or courteous buyer. Motivated home buyers will make an attempt to accommodate the showing schedule.
Unfortunately, not all real estate agents demonstrate the same level of professionalism, and they occasionally leave doors unlocked. When you have your real estate agent present for all showings, you can ensure that your parent’s home is properly secured, granting you peace of mind.
Lockbox Benefits
Certainly the lockbox has security features and advantages:
• The biggest advantage is the ease of showings. When showing several homes it’s difficult to pinpoint the exact time clients will arrive. Buyers may linger at the first home or walk through in five minutes.
• Scheduling showing appointments can be difficult and time consuming. Having a lockbox will maximize your showings.
•The internet automatically updates the name of the showing agent, date, and time.
• Agents typically access most lockboxes with their cell phones after inputting our passcode.
• Showing days and times can be restricted (lockbox will only open when it’s programed to do so).
We expect agents to refrain from accessing the lockbox without an appointment unless the home is vacant. Regrettably, some agents refuse to adhere to this simple protocol. However, there is a solution to this dilemma, which involves programming the CBS (call before showing) code. When implemented, the lockbox becomes inaccessible without the listing agent’s seven-digit password. It’s an additional step to ensure an owner’s privacy when the home is still occupied.
I hope this general information regarding lockbox pros and cons is helpful. Why not ask each Realtor to explain their position?
Best of luck to you on your out-of-state sale.
