So, you listed your home for sale.
Your realtor puts a Lockbox on the property. Your property is secure, right?
A Lockbox is a simple tool - a (usually digital) device holding keys to a designated property. It’s often placed on a railing or doorknob for realtors to access in order to show prospective tenants a home.
Most homeowners don’t think twice about its use. It’s a great tool that is incredibly useful for all parties involved. But a leaked or public lockbox code could spell trouble for your property. So the question is: who really knows your Realtor’s code?
Occasionally a story will surface about an unsuspecting family who comes home to random people in their home. Their Realtor gave their lockbox code to potential home buyers so that they could scope out the property without an appointment.
While law enforcement agencies aren’t technically considering these situations illegal… they’re certainly recognized as a huge security issue. And one that’s gaining ground in many counties.
Authorities are urging Realtors to use digital lockboxes over those with combinations.
Realtor Dave Delahunt notes that when digital lockboxes are used, more information about the security of the property is available. It allows authorities and the Realtors themselves to know exactly who went in, and the times they arrived and left.
If anything is stolen or broken in the property or if there was unauthorized entry, digital lockboxes give enforcement officials more information to seek out a prosecution.
While most Realtors honor the ethical code to keep these lockboxes secure, fines can be issued to Realtors who give the codes to unauthorized individuals.
Still, there’s a bit of push back with adapting to the new technology. Digital lockboxes run around $100, while the traditional ones only cost about $30.
So what can you do to ensure your property’s security? Work with a legitimate Realtor and ask them directly who has access to the lockbox codes. Your Realtor or an authorized representative should always be present for showings. And finally, don’t hesitate to communicate with your Realtor about a schedule for the property if you’d like to be more involved.