In this video, we share the different types of
lockboxes and why some may be better than others.
When selling a home, the safety and security of both the home’s contents and its owners should always be at the forefront of an agent’s mind. So, when providing access to potential homebuyers, which lockbox is the right fit?
What is a combination lockbox, and when might it be the right choice?
A combination lockbox might be a good choice prior to the home being available to buyers. Sometimes contractors, estate liquidators, or move managers need access to the house, but you may not want to give them a key to carry with them. A combination lockbox provides one secure location for keys so that vendors and service providers can enter the home on an as-needed basis.
How do real estate agents and homebuyers gain access to the home?
Once a home is ready and available for showings, a previously used combination lockbox might be replaced by a more secure device. There are different brands in different regions, but in the NW Arkansas area, you will hear them referred to as Supra boxes.
These boxes allow your agent to track who comes and goes from the property. Only authorized persons (members of the local Association of REALTORS® and multiple listing service – MLS) have the ability to open the Supra boxes. The box can also be programmed rendering it inaccessible during certain hours.
How do I know who has been inside my home?
We really like electronic lockboxes because when someone accesses it, a notification is sent to us (as the agent who owns the box). This way, we know if an agent did or did not show up for a scheduled appointment. Conversely, we also know if the property was accessed without a prior appointment or permission. We can also set these alerts to notify homeowners if they choose.
Why might agents choose a combination box over an electronic one?
If the real estate agent is not a member of the local Association of REALTORS and/or a multiple listing service, they may not have access to the more secure boxes used in the local area. The electronic boxes are also more costly; therefore, some agents elect to use the less expensive and less secure boxes.
Lastly, some agents, particularly in rural or remote areas (usually outside their normal service area) prefer to use a combination lockbox because not all agents in that area will likely have the ability to access electronic boxes. If a non-member agent wants to show the home, the listing agent would need to open the box. This can be very inconvenient for all parties and can result in the property getting fewer showings.
How do I know which box will be used on my property?
Your circumstances, as well as the policies and marketing philosophy of your agent, will determine which box is placed on your home and when. Ask any agents you are interviewing what their showing policies are and which box they intend to utilize.
You have a choice! If you are not comfortable with a combination box, let your agent know. Conversely, if you want a combination box, say so!
Does the lockbox change how I access my home?
Placement of a lockbox on your home should NOT affect the access for you as the homeowner. You will still use your own key and/or garage entry.
If you have any questions about lockboxes or other safety and security related issues when selling a home, please call us at 479-717-7710 or by emailing us at firstname.lastname@example.org
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