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Real Estate Advice
The key to selling your home: Lockboxes and showing appointments
Published Thursday, 19-Apr-2007 in issue 1008
To real estate professionals, unlocking other people’s houses and walking inside is a routine fact of everyday life, because selling means showing. But for many homeowners, the most disconcerting aspect of the entire real estate process is handing over the keys to a complete stranger.
In order to sell your home you have to let buyers tour it, and for that reason it is important to understand the way the lockbox system works, to ensure your well-informed comfort level. Let’s first look at homeowner options and then examine the technology of the lockbox.
As a home seller you have options
The most common system used to conduct home tours involves leaving a message to inform the homeowner that there will be a real estate showing and then using the key left in a secure lockbox to get into the house. But most consumers, including those who have sold homes many times, are not aware that there are various options and alternatives regarding the business of keys, appointments and showings.
Here are three examples:
No lockbox listings
When listing your house, you can specify that you do not want to use a lockbox. If a buyer’s agent wants to show the house, they have to go to your listing broker’s office and pick up a key, which they sign for and promptly return after they tour your home.
Restricted showings
When listing your home, you can require that your broker only show the house on weekends. On the other hand, if you prefer to have privacy on the weekends but are away from home during the workweek, you can insist that showings only happen while you are at work and that there can be no showings during evenings, on weekends or holidays.
Accompanied tours
When you list your home, you can insist that whenever anyone comes to view the house, your listing agent – or your listing agent’s personal assistant – must also be present. To make this happen, the buyer’s agent would be required to make an appointment to view the house, and then your agent would meet the buyer’s agent and the potential buyer at the property. Your listing agent would accompany the other agent into the property and remain present until the showing is finished and it is time for your agent to secure the house and lock it.
The downside to restrictive showing procedures
While the options listed above may be necessary for the peace of mind of some sellers, keep in mind that each of those strategies will cause added inconvenience and scheduling problems for your buyers and their realtors.
Especially in a highly competitive real estate market, it is best to do whatever you can to generate more buyer activity by showing your house. For that reason, it is recommended that you facilitate easy access to your home, without compromising your sense of security, safety, privacy and overall comfort.
Unlocking the mystery of the real estate lockbox
Because of the need to strike a balance between a homeowner’s comfort zone and a homebuyer’s convenience, the real estate lockbox was invented. Millions of homeowners will bear witness to the fact that this incredible tool has proven to be a reliable, remarkably ingenious solution to a variety of problems and concerns.
While real estate lockboxes come in a variety of styles and have different types of mechanisms, they all function in similar ways and serve the same purpose.
The lockbox is designed to hang conveniently on a doorknob, fence, or other structure, in such a way that it cannot be removed.
One of things that homeowners can do to enhance their sense of security without placing restrictions on buyers is to ask that the lockbox be placed in a discreet location. For example, you can place it on a back door or below eye level on a handrail leading up the steps to your door. Proper placement can also help to protect the paint or finish on an expensive door from getting scratched or marred.
Each lockbox contains a hidden locked compartment to stash a house key. To access that compartment, special security clearance is required.
The main thing to understand about lockbox technology is that it involves sophisticated security mechanisms, including a high-tech memory. Opening it requires an encrypted code and leaves behind an internal record or “footprint.” If necessary, the lockbox memory can be audited by authorities to reveal the chronological identity of every person who accessed the box.
When interviewing brokers to list your house for sale, ask them to explain their showing procedures and answer any questions you might have regarding appointments, scheduling and key access. Your comfort is the most important thing, and once that is established it will help to ensure a good relationship with your realtor and a quick sale.
To find a qualified real estate agent to help you sell your home, call 888-420-MOVE or visit www.gayrealestate.com. These experienced professionals specialize in serving the GLBT community worldwide.
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