July 5, 2012 4:14 pm
In its simplest definition, a lockbox is a metal box that literally attaches to the front doorknob or other secure part of the home. Inside the lockbox is a smaller box that contains the key to the house, so when an agent opens the lockbox, the smaller container slides out, providing easy access to the home.
Since the majority of today’s real estate listings are entered into a Multiple Listing Service, your home is getting more exposure as more real estate agents than ever before can show your home to prospective buyers.
This means that real estate professionals need access to your home on fairly short notice, however, you and your agent can control when prospective buyers have access to your home by setting the lockbox hours.
Without a lockbox, sellers have to plan accordingly so that they are present when prospective buyers come to see the home with their agent. In addition, if you simply leave your house key out for your agent, he or she might have to rush off to another showing across town, leaving your home unavailable to other interested buyers.
Lockboxes are also much more advanced than they used to be. Unlike the lockboxes of a decade ago, today’s lockboxes are mostly electronic and record the time and date as well as which agent showed your home. They even notify your listing agent immediately so that he or she can quickly get to work on your behalf.
For those worried about security issues, a stranger cannot come by, open the box, get the key and gain entry to the house. The only way to open a lockbox is with an electronic key, and the only way to get a key is to become a member of the local MLS. Each key has a unique identifier and agents are forbidden to let another agent use their electronic key.
If your agent doesn’t recommend using a lockbox, don’t be afraid to ask for one. It’s your home and you can certainly call the shots.
To learn more about taking advantage of lockboxes when selling your home, contact our office today.
Published with permission from RISMedia.