How Do Lock Boxes Work In Real Estate?
Posted on: 9 January 2019
If you plan on selling your home and using a real estate agency for help, you are basically hiring one agent to be your listing agent, but this does not mean that this agent will be the only agent showing the house. Once the house is listed, any agent can schedule a showing for your home and can go there with a client to let them see the house. For this to happen, real estate agents use lock boxes to allow other agents access to your home.
What is a lock box?
A lock box is a small type of box that looks similar to a safe, and it is a box that your real estate agent places on the front of your house. Normally, the box is attached to your front door handle, but this is not always possible with all types of door locks. If it cannot be placed on your front door, it can be placed somewhere else secure. In this box, you will find a key that opens the front door of your house.
How does it work?
A lock box contains your house key, which is needed for showings on your house, and the only way to get into this box is with a special key. Real estate agents all have keys that work with these lock boxes. Because of this, any agent with a key can get into the box to get your house key to show your house.
What features do lock boxes have?
Most lock boxes are very basic, but there are also some that have a lot of features. One of the most common features is the box's ability to track each time it was opened. The purpose of this is to make sure that a real estate agent actually attended a showing that he or she scheduled, and another purpose is for protection. Additionally, many boxes will track the time and date the box was opened, and some are even able to tell you what real estate agent opened the box.
Is this safe?
Using a lock box is safe, as it can only be opened by real estate agents. The features on the boxes also increase the safety for their use, and you can ask your real estate agent about the features offered on the box he or she will use on your home.
Selling your house may require showing it many times, and that is why agreeing to a lock box is important. If you have questions, contact your real estate agent today.
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