What's a Lockbox?
Great Article, our MLS just signed a new contract with Sentrilock to get the Next Generation Lockbox. The other cool feature they offer at no additional cost is Showing Feedback for your seller. (just released)
What’s a Lockbox?
A lockbox is a tool used by Realtors® to allow access to a property being offered for sale.
You’ve decided to list your home for sale (put it on the market) with a Realtor® like me. Part of my job is to provide access for myself and other agents to show the home and as the process moves forward, meet inspectors, an appraiser and contractors if need be.
At the beginning or the process, once the Exclusive Listing Agreement is signed and Lockbox addendum, the seller typically supplies me with a spare key. I use the Lockbox to hold the key and provide secure access via a card key.
Lockbox Parts
- Cover
- Shackle
- Secure key door
- Lockbox body
- Card key
- Card key reader
- Key pad
Once installed on a door knob or other secure location near the main entrance, it looks like this. The lockbox will not change the way you normally enter & exit your home.
The only way to access the key to the home is with a valid card key in good standing with the lockbox service provider. In Maryland & Pennsylvania SentriLock is a commonly used Lockbox. Although I own my lockboxes, as many agents do, I/we pay an annual service to monitor the lockbox card reader.
When a Realtor® is showing the property to a potental buyer, the Realtor® will use their own card key to access the key inside the lockbox.
Only the lockbox owner has the code to release the shackle.
The benefits to the seller:
- Professional Lockbox provided by me, your Realtor®
- Secure access to the property without keys in the listing brokers office which is simply not efficient in most cases.
- Electronic card keys held only by industry professionals.
*Please note, there is a possibility that a person may use the lockbox in an unauthorized manner or pose as a buyer to gain access. See the lockbox addendum for full details. As the homeowner you should ALWAYS secure valuables, medications and firearms or remove them from the property while it it being offered for sale.
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