I was reading another blog earlier today that was in regards to what your lock box can reveal and do for you. Well this reminded me of something that happened here just a few months ago that really caused a scare to the sellers as well as a big hurt to the broker.

 

Just as all towns and cities do, we have the larger Broker companies and many small mom and pop Brokers. Well one of the mom and pop Brokers had 75% of their lock boxes stolen over night. Why? Because they had the same code for all of their boxes! Well, whoever had stolen them had figured out after showing a few of their listings that all the combos were the same for all their boxes.  I guess in the late hours of the morning, someone decided to go to their listings and steal the boxes with keys included!

 It doesn't take a genius to figure out once you have knowledge that all the broker's lock boxes are the same code to go into the MLS and find all their listings!

Well, only days after this had transpired, about 50% of their listings cancelled or were withdrawn. They had lost a lot of their listings because of something so simple that could have been prevented if they had used more discretion.

A few simple rules that should have been followed:

  1. NEVER use the same combo on all your lock boxes
  2. Have your lock boxes in a more discreet location on the home
  3. Rotate your combo every few months

Apparently they still have not learned their lesson because even if you call to book a showing, you can still get the same combo for the lock boxes on their current properties!

 

9 Comments on Vanished into thin air- the case of the missing lock boxes

that's really interesting.  Here the shackle code is different from the code to obtain keys.  Everyone has their own code to get the key out, but only the broker/agent has the code to release the shackle which holds the keybox in place.

Thanks for the heads up!

09/01/2007 10:50 AM by Nora Adkins (Realty Executives)


Many Realtors do that in my area as well.  I guess it's out of convenience.  Who would think that another real estate agent would go and do such a horrible thing.  I only assume this was an agent, because that would be the person who had access to the code.

09/01/2007 10:51 AM by Deb Johnson~Farmington Hills real estate RE/MAX Farmington Hills, MI (RE/MAX New Trend)


We have several types of boxes here on Fort Myers Beach but the most common type is electronic.  I t records day/date/time/agent, etc.  Not sure if we are also vulnerable.

09/01/2007 11:02 AM by Bill Gillhespy Fort Myers Beach Realtor (Century 21 Tripower Realty)


You have a much bigger problem than missing boxes.  This is a huge risk factor that your local Board of REALTORS and MLS need to correct ASAP.  If Seller property is damaged or stolen, the broker will probably be held liable.

09/01/2007 11:51 AM by Larry Wright (nwRealty.Com)


Most of the lock boxes in my location are easy to remove. Once you have opened it with the code ther is a small button to move that will release the shackle. No code is needed for that.  This is a very big problem and after hearing of this- I made sure to change the combos on my lock boxes.

 

Another problem around here is that some of the agents/brokers are too lazy to bother to create their own code and they leave the code that was given my the company that produced the boxes.

 

With security issues that seem to be on the rise between the MLS needing or should I say requiring to change passwords, lock box issues and appraisers that are sexual offenders, well there needs to be something done soon or Real Estate will go down in flames. Everyone will be afraid to take a listing in fear of a lawsuit or show buyers a home in fear of accusations of stealing the lock box and keys.

What has this world come to?

09/01/2007 01:42 PM by MAUREEN STACCATO Associate Partner Massachusetts (KELLER WILLIAMS OF PIONEER VALLEY)


Goodness, some people are slow learners!  You'd think they might change the combos!  We have electronic lockboxes, but some agents still use the combo ones - I'll never understand why. 

09/03/2007 07:37 AM by Margaret Woda, Maryland REALTOR (RE/MAX VISION)


If you must use combo lockboxes, be sure you keep the combo to yourself...don't repeat it as you're opening the door for clients, appraisers or inspectors.  As this becomes more of a problem, electronic boxes will become the norm as they are in many areas in NJ.  They're great because you can get a print out on your computer to show sellers who's been in and it also helps in getting broker feedback.

Laura G, NJ Realtor 

09/28/2007 07:03 AM by Laura Giannotta Keller Williams Atlantic (Keller Williams Atlantic Shore )


We have electronic keys, code changes every day which is a pain if you forget to put the key on the charger at night, but I prefer that to someone being able to get into my listing. Great Post!

09/28/2007 09:30 PM by Debbie Malone, RE/MAX, Lynchburg, Smith Mountain Lake, Real Estate Agent (RE/MAX 1st Olympic, ABR, e-PRO, ASP)


I agree that you must think before you speak- it doesn't take much for temptation for those who have no ethics!

09/29/2007 08:35 AM by MAUREEN STACCATO Associate Partner Massachusetts (KELLER WILLIAMS OF PIONEER VALLEY)


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Real Estate Agent: MAUREEN STACCATO Associate Partner Massachusetts (KELLER WILLIAMS OF PIONEER VALLEY)
MAUREEN STACCATO Associate Partner Massachusetts
Springfield, MA
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KELLER WILLIAMS OF PIONEER VALLEY

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