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SELLING YOUR HOME.......WHAT ARE THE  PROS AND CONS OF USING A LOCK BOX?

TO LOCK BOX OR NOT TO LOCK BOX.

 

Lock boxes are certainly a convenience, and part of modern day Real Estate services, since they allow access to a property at times when sellers may not be at home. Either Supra boxes or combination boxes are the norm in most marketplaces, but let's discuss the pros and cons of each.

 

THE SUPRA SYSTEMS: Have great features, but the showing agent must subscribe to the service to obtain a special key. The system electronically records when and who entered the property. The advantages are obvious and that is why these systems are popular. The down side is that the key (which looks like a cell phone) and the Supra boxes themselves, are rather expensive, consequently, many Real Estate Agents do not subscribe to these services, and choose a combination lock-box instead.

 

A COMBINATION LOCK BOX: Does solve the issue of agents who do not subscribe to the Supra System, but once the combination is made known to other co-operating agents, it is not possible to determine electronically, who viewed the property or when it was viewed. Since a co-operating agent must first call the listing office to determine the availability of the home, It becomes the responsibility of the listing agent or office to record the dates and times that the home is being shown, along with the name of the showing agent.

 

VISIBLE LOCK BOX LOCATION. Having either type of lock box clearly visible from the street can make a home vulnerable to vandalism. While not common, there have been cases where homes were broken into, when vandals cut lock boxes off of front doors and smashed them, exposing the keys. Whenever possible, it is recommended that the lock box be attached to a rear or side door, where it would not be visible from the street.

 

CONCLUSION. When selling your home, it is your goal to expose it to as many potential buyers as possible, even when you are not there. Lock Boxes allow that to be possible, making the scheduling of showings easier. The question is whether or not sellers are willing to risk missing a showing, simply because the day or time is not convenient for them. What are the sellers priorities?

 

For all your Real Estate, Insurance needs and more helpful hints, contact LEGACY REALTY GROUP. "The New Star in Town", Edison, NJ, 08820

732-744-0400

 

 

exerpted in part from McKissock, continuing education.