Should You Allow Your Realtor® to Use a Lock Box
on Your Property for Sale
What is it and why is it useful ?
A "Lockbox" is a "locked box" containing a key to your home. Lockboxes come in a variety of types from mechanical
types to electronic units that provide your Realtor® with information on who showed your home.
The electronic types are in common use in the real estate market today. They are generally placed somewhere easily located by a Realtor®
who wants to show your home. Only those with a Realtor's "electronic key" can open the lockbox and enter your home. These "electronic keys"
are closely controlled by the local real estate board to assure that only active Realtors® have them.
Having a lockbox on your house makes it convenient for other Realtors® to show it.
Without a lockbox, a buyer's agent Realtor would need to arrange for you or your Listing Agent to meet him at the property
to show your home. That may not sound like a big deal, but a Realtor cannot know in advance just how much time his Buyer will spend at each home he shows them.
So, while he may arrange with your Listing Agent to be there within a 2 hour window, he cannot be more specific. You, or your Listing agent is forced to stay at the home for
awaiting the Realtor® and his prospect(s). That's not very convenient or efficient for you or your real estate listing agent.
Most other homes for sale in the real estate market will have a lockbox, so if you don't allow one, many Realtors® will simply not show your property.
Your Listing Contract specifies whether or not you'll allow a lockbox. A smart Tampa Florida real estate pro once told me. "If you still have concerns about allowing a lock box, ask a competent Realtor to demonstrate one for you."
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