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Can you imagine your life without a lock box on every one of your listings?

Well here in New York City this is my reality.  Manhattan apartments that are on the market for sale do not have a lockbox on the door.  When I have told this to agents who work in different states they look at me and are shocked. 

So rather than plopping that lock box on the listing and walking away checking up with whoever shows the property this is what happens in Manhattan.  It's very simple, but it can be very time consuming.  We personally show every one of our exclusives (listings) to either agents or direct buyers that call us. 

What happens if I have three listings in three different parts of the city?   What happens if I have ten, twenty, or 50 listings all over the city?  A lot of running around and "showing" is what happens.  Typically we will try to schedule as many appointments in a series on one day.  Agents will confirm for appointments relentlessly.  When you spend 45 minutes on subways during rush hour to find out nobody is coming you develop a certain amount of impatience and insistence to confirming the appointment. 

What can also happen is that you show the apartment to an agent and their customer and they walk in and out of the apartment in a flash with nothing be said.  A complete waste of time because a lack of prequalification from the buyers agent.

But don't get me wrong I feel there are some definite advantages to an agent's life without lockboxes.  Being at every showing of the apartment I can provide better feedback to my seller because I hear the pros and especially the negative comments from the buyers and agents coming through the apartment.  It also helps because as the listing broker I know the apartment and the building better than a buyer's agents would and can sell the apartment better and answer questions better ultimately providing better service to my seller.

So let me ask you, what would you do if tomorrow morning your lockboxes were gone and you had to show all your listings?

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Morgan_Evans_NYC_Condo_specialistMorgan Evans is a Manhattan New York Real Estate specialist in neighborhoods such as: Greenwich Village, Soho, Union Square, Upper East Side, Upper West Side, Chelsea, Midtown West, Midtown East, Nolita, Lower East side, Financial District in Manhattan. Morgan specialize in working with international buyer, high net worth buyers,  parents buying for children and investors buyers. Contact him today by calling (917)837-8869.

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30 Comments on Life without LockBoxes

NOV
08
2008
1,481,808 Points 276 Featured Posts Localism Sponsor Outside Blog Attended Rain Camp Called Shot Master

I remember back in the old days here.  What a pain in the wazoo!  A lot of us used combo boxes.

9:12pm • #1
217,693 Points Outside Blog Attended Rain Camp

Lock boxes in some areas just seems to me like another thing to break into.

I can remember years ago when there wasn't such a thing as lock boxes. i am dating myself aren't I.

9:14pm • #2
149,153 Points 1 Featured Post

Ahh call in sick? lol...wow seriously...I can NOT imagine having no lockboxes....is that a state law or something? Our lockboxes have a recording in them that tells us who was there,what time and what day...showing the property to another agents clients? That doesn't seem quite right...but then we are in other ends of the Country...So does the other agent call you and say, Yo...Morgan...I gots some clients you need to show tomorrow...got it.....or is it up to you to schedule them?

 

Interesting post....Makes me So glad I am in Cali....Thanks for sharing!!

 

Rick

9:14pm • #3
Localism Sponsor

I actually like the idea of not havign lock boxes, I think the seller gets his money worth when we are actually there to answer their questions.

9:15pm • #4
271,655 Points 3 Featured Posts Localism Sponsor Attended Rain Camp Called Shot Master

Rick-

The other agent will call and set the appointment, but they will show up to the appointment with their customers.

9:19pm • #6
1 Featured Post

What a scary thought!  My broker told me there was a time that every key for every home listed was kept at the local board. Being without keyboxes wouldn't be as bad as that.

9:21pm • #7
176,051 Points 3 Featured Posts

I prefer to show a vacant home.  The buyer tends to tell you what thay actually think of the property versus telling the homeowner what they want to hear.

10:25pm • #8
100,759 Points Localism Sponsor

There are areas in my county (mainly closer to NYC) that have the keys at the Realtor's office.  That is huge pain, as we have to drive around and pick them up, then drop them off afterwards.  I have to say that when there are a bunch of listings available, with all things being equal, I will choose the ones that have lockboxes unless one pops out as being worth the hassle. 

It is truly a nightmare - a few weeks ago I went down-county, picked up a key and forgot to drop off!!!  I had to go back the next day to bring it back because, of course, there'd been another showing scheduled for that day and they only had one key.  No wonder everythhing takes forever to get sold.  :-/

10:25pm • #9
364,412 Points 12 Featured Posts Localism Sponsor Outside Blog

Welcome to the days of old.  Will they allow combo lockboxes?  If not, appointment with client or hire a non licensed or licensed agent to show the home that is paid a low salary/bonus.  When they explain who they are and that they can not represent the client, the client is at ease.  This is the way it use to be..........

10:28pm • #10
NOV
09
2008
2 Featured Posts

I remember driving around to all the different agencies and picking up keys, and then having to deliver them back at the end of the showings. A waste of time,, money and gas! I occasionally will have a client who would like me to be present at all showings, which I will do. I much prefer to put a lockbox on, though. For condos, I usually leave a key with the concierge and call to let him or her know when an appointment has been set up.

1:09pm • #11
2 Featured Posts Localism Sponsor Attended Rain Camp

That would be rough. Though with the high end stuff -most don't use lockboxes anyway.

10:16pm • #12
431,301 Points 26 Featured Posts Outside Blog Called Shot Master

Although lockboxes are commonly used in Los Angeles, I NEVER use them on my Listings.

I believe it is the Listing Agent's job to show each listing, or at least have an assistant help with the showings.

As a Seller I wouldn't want any stranger showing my property without my authorized agent being present.

11:48pm • #13
NOV
14
2008
197,544 Points 1 Featured Post Localism Sponsor Outside Blog Called Shot Master

I relocated from an area that used nothing BUT lockboxes (and provided a tour without the intrusion of the listing broker) and was stunned to walk into an area that wasn't using them. Now, were that the ONLY difference...

2:23pm • #14

There are a lot of reasoning behind having or not having them.  Great post everyone!

2:36pm • #15
2 Featured Posts

This reminds me of a conversation between two agents in the office the other day.  The older agent was regaling the younger agent about the days when they had to take film to be deveoped and have extra copies made to go in the MLS.  Some things are a lot easier these days.  Sorry you have to schlep all over like that!

5:51pm • #16
NOV
15
2008
168,217 Points 2 Featured Posts

I personally would not like it because a lot of house hunters are not really in the market, and it would waste a lot of your time.  I know when working with a buyer, sometimes I have shown them 6 or 7 houses a day, for several days, only to find out they aren't really ready to purchase.  Over time, I have learned to ask the right questions before hand, but in your case, you don't have that choice.  You have to go on every listing without knowing the buying capacity of the client.

I like not having to be at every showing of listings because of this.  The lockbox allows you to know who has previewed your listing, plus you can usually contact the agent at a later time to see how much interest the potential buyer has in the listing, and receive any feedback.

7:45pm • #17
NOV
16
2008
197,637 Points Outside Blog

Hi.. Thanks for your post.  Its always good to see other people's perspective and tips.  Keep the posts coming!  I enjoy reading them and learning something new.

1:35pm • #18
NOV
26
2008
197,637 Points Outside Blog

These days we all take the lockbox for granted.  But the idea of not having them seems pretty strange.

6:27pm • #19
DEC
09
2008
4 Featured Posts Hit Router Attended Rain Camp

NYC is a strange place!  Is it true you still don't have MLS?  Yikes!  But, if it did not work for you guys, you'd change it.  Someday you will ... for now look on the bright side:  the ability to help sell your listings while you're there!

I'm in NJ (Summit, Short Hills, Chatham, Maplewood, etc) and welcome referrals!

Trish Giassa, Keller Williams Realty Premier Properties  201-960-2090 Trish@BestNJhomes.com

7:22pm • #20
DEC
30
2008
440,708 Points 7 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Great post Morgan. I always enjoy reading your postive and informative blogs. Keep up the good work and those blogs flowing about Manhattan Real Estate. Send me an angel.

12:41am • #21
JAN
03
2009
327,553 Points 9 Featured Posts Localism Sponsor Attended Rain Camp Called Shot Master

I feel your pain Morgan!  We're pretty much in the same boat in the Cambridge/Boston market.  Lockboxes are becoming more common but plenty of listings are either accompanied or require picking up keys at the listing office.

I'm a big fan of lockboxes and use them as much as possible.  When I take out buyers I far prefer unaccompanied showings.  We typically have a better experience when we can relax, talk freely, focus on what's important to the buyers, etc.  Of course there are exceptions - tenanted units where you as a listing agent want to run interference, confusing floorplans, etc - where accompanying the showings makes sense.

In a time of high inventory - which is not what we're experiencing at the moment - I find myself putting accompanied showings at the bottom of the pile, all other things being equal. It's just too much of a hassle to coordinate four parties' schedules.  And no matter how many are on the team it's more common than not to run into problems with the listing agent's schedule.

There are lots of opinions on each side of this issue and it's a recurring debate in our office.

Liz

3:38pm • #22
FEB
02
2009
440,708 Points 7 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

We are in the same market, I don't even know what life would be like WITH lockboxes! Best luck to you!

11:00pm • #23
FEB
14
2009

I can see both sides of this issues. But I am so Thankful that my city/state has lock boxes. I cant imagine life without them. I will walk to the halls of the state legislatures if they try to take them away.

Greg
3:31pm • #24

I couldn't live without lockboxes. Where we are we can program our cellphones to open the electronic ones. How swwet is that? No separate key to deal with.

As for those who believe that lockboxes could be broken into then the house broken into I can only say that it's easier to break into a house than it is a sturdy lockbox.

4:20pm • #25
FEB
15
2009

In our market, most agents do not use lockboxes. I try to use lockboxes as much as possible. I'm not waiting for an agent and his/her client if they are running late. In our neighboring county (Cumberland) most agents use lockboxes. Go figure!

Rick

10:26am • #26
MAR
04
2009
262,726 Points

I remember when we had to go to 20 different offices to pick up the keys to show.  (In the 80's)..

and if the key did not work, you had to go all the way back to the office to get another one...

Ginger

3:03pm • #27
APR
05
2009
262,726 Points

I would just die with out lock boxes.  Saved me so much.  Showing or NOT!

8:51pm • #28
JUL
04
2009
120,163 Points 3 Featured Posts Localism Sponsor

We use lockboxes on almost all of our listings.  Every so often there is a situation that requires us to be at the house.  Those don't seem to get as many showings.  I like being there during the showings to overcome false perceptions or objections, but generally speaking a good agent can show and sell the home.  Our job is to get the word out on the home, not to show it to someone else's buyer.  I can't imagine running all over opening homes all day - we have a big inventory and it would limit our ability to do anything else.  The new boxes are secure - might be a consideration for a future change.

10:34am • #29
FEB
05
2010

Imagine that?  Agents would really have to work for thier money.  These days it seems many agents take a listing, throw a sign up, put a lockbox on the door and then disappear.

 

I guess when I started out in the real estate field some 15 years ago, agents were present at their showings.  Yes it's hard work, but what work isn't?  And agents that had so many listings that couldn't be bothered to be present at showing appointments would at least have licensed assistants who could be.  Or the assistant would be in the office working on other things so that the agent could be at the listing appointment.

 

Although I've worked in the field and around agents throughout the years, I've just recently been licensed as an agent and now work on my own.  I do plan on being at most of my listings so that I can answer any questions that may come up and present the home in the best possible manner.

 

Thank you again Morgan for the post.

9:41am • #30
FEB
12
2010
113,681 Points 4 Featured Posts

It sounds like you have to be either a seller's agent or buyer's agent but not both. Your time is all locked up.

7:58pm • #31

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Morgan Evans-New York City Real Estate Expert

Manhattan, NY

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New York City Manhattan Real Estate agent specialize in Manhattan Condominium market such as Resale Condominiums, New Construction condos and condops. We work with first time home buyers, foreign buyers, investors. We Specialize in neighborhoods: Upper West Side, Chelsea, Midtown West, Midtown East, Nolita, Lower East side, Greenwich Village, Soho, Union Square, Financial District in Manhattan. Locations of visitors to this page
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