Ask Phyllis!

Lockbox Pros And Cons

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. Which Realtor is right?     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 benefits and drawbacks 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 by appointment only and/or via 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.

Sadly not all real estate agents exhibit the same level of professionalism, and sometimes doors are left unlocked.  If your real estate agent is present for all showings, you can rest easier that your parent’s home is properly secured.

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 name of the agent showing, date and time are automatically updated on the internet.

• Most lockboxes are accessed with the agent’s cell phone and we must then input our password.

• Showing days and times can be restricted (lockbox will only open when it’s programed to do so).

Unless a home is vacant, the lockbox is not supposed to be accessed without an appointment. Unfortunately, some agents refuse to follow this simple protocol.  There is a solution to this dilemma – which is the CBS (call before showing) code. When this is programmed, the lockbox cannot open 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 is helpful. Why not ask each Realtor® to explain their position?  Best of luck to you on your out-of-state sale.