I am starting to think the Lock Box post was a wise decision on Matthew Ferraro's part.

That's a lot of comments.  I like lockboxes but haven't seen the post.  I'll head that direction in a minute.

I heard we were all supposed to go to electronic. So I am game for those...... As for the codes...it was one of the first things I learned. Give your investors the codes, it makes you life much easier...sooooooo I would have to say, electronic all the way.

Steven,

I read the post! Thank God, I'm a title man!!! :) BTW, I can see merit on both sides of the issue!!! It is surely a hot buttonbox issue!!! Thanks,   Fran

It seemed to me and this is only my impression that he has never worked in real estate because if he had he would have already known not only why we use lock boxes but why they are so popular as well. I was one of the first few people that responded and then I held my tongue further. It seems after going back and reading the first 50 or so responses everyone pretty much said the same thing that not only is he completely wrong it is a really misguided way of looking at things.

The basic problem is that he assumes the listing agent is the one selling the house and anyone that works in real estate knows that this is hardly ever true. The majority of the time the buyers agent is the one bringing the buyers to buy the house. No one has to sell anyone anything. The listing agents job is to get the house in order and get materials ready for other people to show the house and then represent the sellers through the rest of the sale. His argument is flawed and really seems to lack any sort of experience in this area. I dont think this has anything to do with lockboxes but just trying to understand how real estate sales work. It felt like trying to explain to inexperienced customers how the process works and I just didnt understand how someone in his position could not know this.

Meet me at the listing and that's great. Now get back in your car. They are my clients not yours (my opinion).

I saw the post last night and was surprised there were so few comments but I guess that was due to the holiday.  I understand the point he is trying to make from a sales perspective (he compares it to selling a car) but think that the point doesn't apply to real estate transactions where typically there are two people working the deal.

I don't sell Real Estate (I'm a mortgage professional) so in my unbiased view I think that he in a way discrediting the role of the buyers agent.  Is the listing agent more qualified to show the property? Perhaps, but if the buyers agent wants to close the deal they need to know how to sell the features of the property as well. Besides a good agent will not only be "selling" that property but how it compares to other properties in the area, the location, the neighborhood etc.

Michelle

Well I haven't read the post, but I am on my way to read it right now.  I will comment again after reading.  Happy New Year!

I read the post and some of the comments and do not agree with him at all.  I believe in lock boxes for many reasons I don't need to explain. I do not believe in "selling" people,as buyers agents we are advisers, educators and facilitators.  Thanks for bring this post to my attention. Interesting perspective I guess differences are what makes us all unique in our own way.

Steven I don't agree with Matthew Ferraro's negative opinion on lock boxes and he view of  only listing agents showing their own listings.  I wonder how well thought out Matthew's opinion was  because he is not looking at the big picture. If he has a client whose house he has listed who is going to buy another  house is he intending to only show his client his listings? Is Matthew also going to withdraw his membership from the MLS since co-operation with other member agents is the main idea?  Many state's real estate commissions do not allow dual agency so the listing agent is not allowed to represent both the buyer and the seller.  That is for the protection of the buyer.  It sounds as though Matthew is  against a buyer having their own agent to represent their bests interests?  What about people relocating to his area?  Will they need to be in contact with 20 agents in order to buy a house from a listing agent?  How impractical and ridiculous is that!   It sounds like a selfish thing for an agent to not want a buyer to have their own agent and for listing agents to only be able to sell their own listings.

He obviously does not work in my market.  It would be perceived as 'cheating' your seller not to have an electronic lockbox on a listing here.  We respect a seller's privacy and scheduled showing hours and use the lockbox to keep track of who has been in and out of a property. Homes sold by appointment only often take significantly longer to sell.

My buyers do not want  a seller or a seller's agent present when viewing a house.  They want to be able to talk openly and honestly about a property. When sellers are present, my buyers usually resort to whispered comments about the house and it is my observation that they usually can't wait to get out of there!

A well packaged,marketed, AND PRICED home should not require explanation--it should speak for itself (with some help from a Buyer's Agent who understands the Buyer's, and not the seller's, motivations!