The MLS doesn’t allow us to use lockboxes that can be opened with a code. The reports coming from sellers are indicating some additioanl negotiations where the brokerage does their home inspection (paid by the owner already) and now wants additional fees to fix inspection items. Posted on May 31, 2010 by daytonapopalock. This Company Marketplace homes offers too homeowners that can NOT sell their home due to poor conduction of the home or just can’t sell for some reason. Here is another scenario for potential idiot buyerw who enter a home without an agent. They send hack emails attemtpting to redirect closing funds. By him/herself? There is no account ability. “The expectation is that they keep those lock box codes zealously protected.” CityNews has found that expectation is being undermined alarmingly often. I would much rather have the combination code without an agent than to have to wait for an agent to meet me at the property. It denegrates our profession and leaves not only us in liability hell, but most important our clients in jeopardy and unsafe conditions!!! Marketplace homes, has poor customer service. Why would a seller allow this? The idea was they could track who entered the home via the code and then charge me for any damages or theft. They have your pictures and proof of location. These guys are on the right track. If we use listing booster, visual tours, multiple photos, etc serious buyers know about the home and can arrange the appropriate showing time. Just don't give out codes. Really? Never give code or let buyers go without agent. As an agent I want to read my buyer’s reactions to what they’re seeing. Just saying!!!! They could come back later with friends, give a friend who is also looking for a home the code, just list the code on Facebook to brag to their friends about the cool home they just saw. Even vacant homes, as theives take appliances, ac, fixtures etc.. No showing after dark, No showing before 9am. Lance Owens not everyone can live in Mayberry 1955. or they'll decide that "being a Realtor" just ain't that big a deal….. and the agents that don't qualify for your new "Realtor" status will use Zillow or other sites to market their listings…problem solved. Sounds a lilttle like today’s Agent Open House. Danger and law suites in the future!! Catch….it is being done and fines don't seem to be put in place. The knowledge of the code should not be allowed and should only be given to a realtor. Thinking at ths from the Sellers perspective – I feel it will not be tolerated in our market. No wonder why Realtors have such a crappy public reputation. Wake Up America! As soon as a few houses get robbed….game over. I could tell they were here because lights were left on and blinds were cinched up. Sure the fees are a little higher, not much. Dozens of real estate agents have been slapped with fines by RECO over the last few years alone. some realtors do it no doubt but if they are caught they are in trouble. Insane for a broker! I thought I would ask, "are you an agent?" This is a list of possible lockbox codes. This is unethical and against the law in Florida. As a Seller… yea… You remember the seller… The person whose home these unattended “buyers” will be going through – I would NEVER sign off on this!!! Step up your game loser! I believe this could be a really great thing if implemented correctly. I replaced all combo LBX's with Supra units that day. So I would say they (the buyer) has just as much liability as any buyer who walks in a home with a physically present agent. This way there's a record of exactly which realtors entered the property. Why on GOD Green Earth would any Seller or any competent agent would even want to take a chance on this app. Only Newbie and Stupid Agents would show a listing without checking loan ability and POF. Some lockboxes use keypads, while others use an external device that is provided to agents. BUT  owner occ homes NO freaking way as you state that is just asking for trouble or a tragedy. The agent should be the one walking thru the house on FaceTime. Would you want them to let someone just go in you house unwatched. The listing agent doesn't need to give out a code, because the showing agents already have their key pad. Some just require that the home be rekeyed with a certain number key so they can gain access. All in all, I feel this is a bad idea. Crazy!! Is your property secure? Who decides whether you are good enough or not to see a house alone?? Traditional lockboxes are typically placed on the doorknob of a home. Andrew Berman is a wonderful friend of the NREP Daily. Many clients are the same way, and the ones that do have keys, leave the windows in the house open 24/7, so the locked door is just to keep the honest person, honest. Realtor MUST be physically present in order to show home to any buyer. We can't even bother to show a person, the largest purchase of their lives', a couple houses live and in person? A person/Company with a video camera that will be handling one of the biggest purchases in a home owners life, I don’t think so…On line photos and on line video is all home buyers need, too look at a home. With the best, most secure Realtor lockbox in place, agents and sellers can rest easy. It would be better if the video platform used a cloud based archive system to store and save the video session, for security reasons. Why do I have to be fingerprinted and licensed again? I can use them so that means anyone can use them. We do not know the whole situation here but you do not give out that kind of electronic access to anyone. Even a burglar can levy litigious action against a home owner if they get injured while in a sellers home. Giving a lock box code out is insane. We as agents that are full time and this is our career must stand together. Absurd to think that any seller would allow this type of showing. I understand what you are stating though. If you use a Supra electronic box and put CBS (call before showing) code in it, only the person you give the code to can open it. The combination method is typically more secure, since keys can be lost or stolen. Sellers don't want just anyone off the streets walking into their home – unsupervised. I actually a have a worse story - about 10 years ago I was looking for a house in a smaller town (about 50,000 people). But this could have a use for vacant inner city listings shown to an investor. If for example the call center could open the box once they were on Facetime. Lest we forget, they need us for the transaction. How do they get the lock box code? Ray and Dan are true leaders within the real estate industry and their weekly shows prove it. Face Time GOOD… Lock Box Codes NOT GOOD. Of course Realtors want to show the best pictures online so a more realistic representation would have to be given so the buyers can make informed decisions based on reality. I would never say that. Marketplace leases these homes with problems to family’s and won’t return repair request calls, the home owner are NOT concerned with paying out any on going repairs leaving the lessee, the start too their nightmare… Marketplace homes is a company that wants too sell to home buyers and sellers a Zip Plan, people today want trust,service,goal’s and needs meet. Clearly the viewers are full of crap, the realtor who authored it is just lazy..not out to hurt anybody, I wouldn't go on the warpath if i were you. I have to look at specifically what the listing agreement says about lockboxes & showings but I am pretty sure it speaks to the fact the seller agrees to allow the home to be shown by licensed real estate professionals. tell me her last name. What if they also used an app you had to download and it added geolocation to the mix? They promise home owners, if you buy a home from one of our builder partners we will lease your home for six years and guarantee your payments for the 6 years. The criminal can get in with a simple boxcutter and cut the screens, better yet, they just remove them, so they have no weapon if the were to get caught. Our MLS uses electornic lockboxes which record the time, date, and agent opening the box. Hopefully you'll get to the bottom of it shortly and things will work out for you. Unless it comes with a security system with cameras in every room and a one use code this is not an option. The current technology uses infra-red signals like a tv remote, but some of the new ones are using blue tooth. Lazy agents creating this . Is this a home that you and your family currently occupy? Insane for a Seller? @Phillip Dwyer  & @Jay Hinrichs  Thanks for the clarification guys. For traditional sellers of an occupied home, Bad, Bad idea. They couldn't (wouldn't?) I can't imagine that any of these agents would feel "just fine" if you sent in an unaccompanied buyer to one of their listing. It's interesting that people have come up with a way to reduce the need for an agent meanwhile legal fees, inspection fees and bank fees are on the rise, crime rates as they relate to theft and home invasion could certainly increase as well. Oh ok, that's a great idea giving each realtor a separate code to keep a record. Another way to do it would be for your local agency to provide this service where the agent meets you once, verifies you are who you say you are, then offers the codes out to the client as needed. Frank asked a good question at the end, what if the company created a way for the buyer to pick up a smart phone from the office that is programmed to track the clients where about, but also allows the client to use the ibox from the phone. May as well leave the door open. PasswordUse at least 8 characters. It is never in a seller’s best interest to ever allow an unaccompanied buyer into their home. All showings must call my office for access. And there’s no agent present to insure that shoes are removed so that no dirt/mud/snow gets tracked through out the house. Did not accompany her clients when they came to my home to view it without an appointment. Fake ID's and fake FB pages for someone looking to rob (criminal mind) is not rocket science. After the showing, the agent can then lock the property and return the key to the lockbox, which is then available to … As far as fake FB pages. Why would someone let Buyers (not knowing if they are even qualified)into their home unsupervised. And although we reset the key codes, we do so after room is cleaned and reset (so cleaners can access unit). .they will send an e mail to the owner of the lock box ( agent)  the minute another agent access the box .. they are really pretty incredible and depending on the agent very valuable tools to monitor showing's. The Keyguard SL-590 box is large and offers a tough exterior. If a seller approves of this, their agent better have a something in writing telling the seller their house could be robbed, vandilized, burned down, or just graffitied and that they will be totally liable for any damage. Apparently this model isn't the latest and greatest that emails the information right away. Given their fine provenance, I thought it might be a challenge to attempt to decode one. I like the convenience but HUGE potential law suits. My realtor sent me a list of about 30 houses that met my criteria. That's a … Your email address will not be published. Listed on the description of her house was the key code to the lock box. Mary your confusing a construction lock box with a dial code or number punch code with a  RMLS board of realtors electronic lock box to vastly different things.. and if a seller is ok with an agent putting a contractor box on the home and allowing the agent to give the code out that's up to the seller. Vickey is correct. After a few lawsuits and agent fines or jail time I feel the unprofessional agents will be gone. Facebook and an ID is not enough qualification for me to open the door for a potential buyer. Tina S. - Realtor For guest lockouts or after-hours arrival, my agents don't have to drive out to the property, we can just send a code to access the keys. There will always be one to push it a bit too far. Shred Media was created for industry professionals by industry professionals. That is why we are hustling daily to build a community where today’s top influencers and thought leaders come together to collaborate. The rules are very clear. Perhaps this is what was meant? I think we all might be a tad nervous our services are being marginalized. This gives us an opportunity to screen the caller, get their license number, and meet the potential buyer and their agent at the property. No Supra Lockbox. So really depends on the asset on how an agent goes about showing it. This Site Might Help You. What if there are two or more of them? I hope the listing agents protect themselves although they are somewhat complicit, aren't they? Team, Traditional Financing, and Single Family, Buyer making entry and starting work prior to closing, BiggerPockets Daily 115: How Much Should You Save for Retirement? 2. These guys are talking about electronic lock boxes where the REALTOR has there own key card. Shop 12 Pack of Key Safe Realtor Lock Box with Set-Your-Own Combination Lock. I love technology but I hate mediocrity. I will not even do an inspection for an appraisal on a house without some one being there unless it is vacant, thus nothing there to be accused of being taken. Sounds like a law suit waiting to happen. Is there a hard line that says you say too many bad things on Facebook? by G. Brian Davis, Rookie Podcast 47: 0 to 7 Deals in a Year Using Other People’s Money with Andres Bernal, Rental Arbitrage: The Secret to Making a Fortune on Airbnb Without Owning Property. We live in the home now. If your a seller and allow this, dumb deserves what dumb gets! The E&O insurance companies are going to have a field day with this. And exactly how do they Vet these people? And the phone number they gave me for her turned out to be bogus. Bad idea. They represent the most common known codes. What? i wouldnt use a realtor who uses the dinosaur lock boxes. On a side note, Realcomp has now changed their wording to include "with Seller's permission". In addition it has placed the safety of my fellow realtors and their clients in jeopardy. It's a pain and takes time away from other business but it's what we do. Aside from the convenience to the user, I have heard positive things about the way Uber "qualifies" their drivers. I have a current client that worked with an agent one time and that agent gave my current client lockbox code to get in homes. The fines averaged $3,000, though RECO says agents can be fined up to $9,000. No closing hassles for the owner. When to Use a Real Estate Lockbox. I heard the “we will buy your house” pitch years ago in the 80’s now a new generation gets to know reality of this statement. No un-escorted buyer is going into any of my listings! Liability, liability, liability. Of all the silliness this takes the cake. This could allow buyers to go anywhere is the country without an agent, taking business from local agents. about 6 years ago You then have problems with possession, eviction, claims homeowner abandoned the property, etc. Agents: If you insist on going cheap, don’t EVER give out a lockbox code over the phone or via email (same goes for gate codes to gated communities). I am a real estate investor and find the majority of agents are ones that took a weekend course so they could get licensed but know nothing other than how to fill out the forms to make a sale. She even admitted it when I confronted her. Collect Move-in Fee, No Sec Deposit Correct? Not some FaceTime call center minimum wage non licensed individual. construction lock box's and leaving a card are generally on low valued assets not peoples personal homes that are being retailed.. Homebuying is such a personal and significant life experience why wouldn't you want your agent with you. I would hate to be one of those buyers getting accused of stealing something when more than one buyer has the same code and can give to how many others. Required fields are marked *. Forget it. 3. They may give you the code if it has a key pad on it, but they could lose their licences because of it. It is a crazy concept! This is INSANE! I was looking at a rental property in Indiana (as a consumer) and to see the property I had to provide a credit card for liability purposes and then they would give me an electronic code to view the property on my own. Yes, let’s go for it! Seems like you haven't laid down clear rules with your realtor to abide by and to relay to other realtors to abide by. 1 entry per code number and a running video of you in the property. EDIT- just ask you real estate agent to go back, I'm sure they won't mind cause they can't make money if you don't buy the house, and the way the market is right now they will probably jump to do anything you want them to do This is not a value added, safe, or legal technology to use. Do i go basic or decent on appliances on new rental? Period. We overwhelminlgy, as a members voted to stick to the mechanical ones. I tell you what, if I was selling my house I would NOT allow this. and moved out of the house. Lots more to say, but why waste my time on this ridiculous idea…. ! & No!!! LOL, this is the best terrible idea ever. What we must first do is create another handful of laws, rules, and regulations regarding lockboxes. Now this "facebook buyer" has the code forever. What happens is after they show the bank the rental agreement the home owner off sets their payment on the house, the home owner can’t sell. Or if the buyer could download an app that opened the box but only while the app is communicating with the call center who is once again controlling the timing of the opening. A person/Company with a video camera that will be handling one of the biggest purchases in a home owners life, I don’t think so…On line photos and on line video is all home buyers need, too look at a home. Hurting the reputation of the industry for fees we fight hard to negotiate. With Supra, every time an agent opens the box I get an email with the name and time it is opened. then go for it !! No seller will TRUST just anyone walking thru their home. Don’t many in the industry let “potential buyers” wander through homes without even providing an ID or a prequal letter? Maybe they can submit it to Inman for a Tech award. . I am sure many other incidents which I am not thinking of at this time…. Not a fan.My sellers would oppose potential buyers in their home with out a Realtor. For best security most investors change the code every few days. A real estate lockbox is a convenient gadget: This small combination box containing the home's key allows buyer's agents and their clients to access the home when the seller isn't there. In Sheikhan’s case — he believes an agent from another brokerage gave clients the code to the lock box and then tried to cover his tracks. The Jurgensen Group - Fairfax, Prince William, Stafford & Fredericksburg VA, Barry Habib – They’re Lyin’ About What They’re Buyin’. She texted me the code which I still have on my … Some real estate lockboxes need to be replaced every 72 months, and of course, real estate lockboxes can break, so agents should budget for real estate lock box costs. Ya gotta agree with Vicky but soooo many agents these days don't want to pay for the Supra Key…. Not to sellers, not to home inspectors and not to the public. We can all agree that service of any kind is becoming a thing of the past in America. Mary your confusing a construction lock box with a dial code or number punch code with a RMLS board of realtors electronic lock box to vastly different things.. and if a seller is ok with an agent putting a contractor box on the home and allowing the agent to give the code out that's up to the seller. @Jay Hinrichs   It may vary from state to state but there have been times when I went to see a property and the realtor gave me the lockbox code and simply asked that I let them know when I had seen it and yet there have been times that I was accompanied by the realtor to see the property which had a lock box on it. She fired her realtor, I'm not sure if she turned him in for the violation though. Security issue. I asked (as the listing agent), "how were you going to see the home without your agent?" If your client would have no concerns about an unsupervised and unauthorized person gaining a key and entering their property…. Too many opportunities for deceit. How lazy does someone have to be to not meet buyers at a home and put at risk someones personal belongings? Although this option may work for a buyer that has already been qualified and has actually met with a realtor, I believe most sellers would prefer the agent representing their property to be present. let the millennial create their own list of incidents. All I can see is chance of huge liability for all concerned…buyers, sellers and agents…not to mention total lack of professionalism on the part of agents to allow buyers access to lockbox codes! BAD IDEA. I said," yes". that's only 2 a month, are you sure that 12 per year is enough? The Master Lock 5400D is a versatile choice because it is available for real estate agents on a budget. Even vacant homes can be vandalized…plumbing, wiring gone,appliances, etc. Now you have completed vetted the borrower and they can go house hunting…it is not that hard every body. Face time does not show the big picture of what is going on in the home plus Buyers knowing the code could come into the home anytime. There are so many things wrong with this idea, which is clear by some of the points already brought up. @Joe Gore That's not exactly the case. Great content for mortgage and real estate pros alike! Total disrepect for your seller. I had a horrible experience with a buyer showing up knocking on the door of my listing saying that they had an appointment to walk through the house with their "virtual agent" When I called Realcomp our MLS, they stated that their rules do not specifically state that you must be physically present…..pick your jaws up! Second, discount brokerage model aside, we as agents should be promoting better service NOT cutting corners. Facetime is only as good as where someone points the camera. Stupid agents. Mainland USA. Many agents start their relationship with new clients as a buyer’s agent and hope to make a great impression so that the buyer refers your information out to others in that new neighborhood for which they just moved into. I don’t like it. We do not have these types of things hardly at all in commercial real estate. Now you can ask for all the rest of the documentation. So while there's noone looking they "lick the donuts" left out by the seller (aka ariana grande style) Pretty sure its not just realtors that may not like the idea… Not sure sellers would like strangers off the street without licensed FINGERPRINTED agents with them. By the way, it seems that a couple of their "qualified" drivers have been accused of assaulting/ raping customers. Think about it – rape, murder, child molestation, etc. Absolutely should not be allowed. He was pretty upset when he heard about this. One of them was my friend's home that she was selling. no, let's make it 24 homes …. Our MLS also has fines for sharing the passwords and PINs with others. Another person from a separate realty company showed up and had the code to the lock box. Borrower wants to see a house great let me do an LE for you. If so, what can I say. Every morning, you’ll receive a coaching video from Barry Habib which will help you beat your competition and be a true advisor in this rapidly changing environment. How would you feel about a smart phone app that allows potential buyers to get a lock box code to tour a listing? Borrower says great and signs the intent to proceed. Sounds like an Agent Open House with a twist to me. Just wait for the first law suite!!! I asked if their agent was meeting them? As technology advances and new products discovered, we will see more and more of this in our industry. Buyers typically choose a realtor based on their performance history of selling prior properties. All it's going to take is for a few agenst to get sued to put a stop to this. Only about 1% of the agents use it though. They bring great content and amazing guests to you in a fun and interactive way. What needs to be done is to educate buyers NOT to allow this sort of practice for their own protection. They were waiting for me to put the keys back in the LBX. Most of the time a lock box is used when people don't want to have to accompany every potential buyer to view the property. You can change the lock box code at will. After viewing their likes, will buy. After all it is the sellers’ decision to allow it, not the agent. Could there be anymore shitty discount companies in this market! I would never give out a lock box code to a stranger, but if it is given to you, I don't see the harm in entering. Your first thought should always be WWCW – what would the client want. I have found these key boxes in use by Realtors in multiple states. If this comes into use in my area I'm not listing so I can at least be around when people are rummaging through my stuff. Here in Texas, we were having problems with people moving into vacant homes and saying the owner abandoned the house. When he … A couple thoughts. Tune-in their latest weekly episode right here on the home page of the National Real Estate Post. I like what you guys are up also. After that, we can discuss the problem. The buying and selling process needs professionals involved. Just food for thought and before you all go nuts with the new TRID rules think about it this way. As the owner of a home of which I was trying to sell; I would not want anyone unaccompanied by an agent to be in my home. All the more reason to use a Supra Lockbox…. Now what if something happens to the home. Nuts! Supra / Sentri…The only way to go. I understand this might be what a buyer wants but I'm pretty sure there a scummy people out there who have already figured this out. What disrespect to my sellers!!! As far as reliability, there is a lot of talk about Uber in my area. Save my name, email, and website in this browser for the next time I comment. It's difficult to believe that anyone other than perhaps a millenial nerd would even allow this type of access. Free delivery on eligible orders of £20 or more. this lockbox thing is insane I would like to start a revolution …..if you want to be a member of our profession and associaiton you must close 12 transactions a year. I'd rather go see a house without someone who has something else on their schedule. Or provided a one-day code to compare your rent in your neighborhood read my buyer ’ s for the in... Who use the cheap, hardware store combination code lockboxes are just trying to figure who! Would only have listings, why make more problem ’ s consumer has fines for the. Out that kind of thinking is unbelievably naive for all of us further night and shot... Anyone can use them so that no dirt/mud/snow gets tracked through out the house contents talked into unattended... Is selling the house, but it gives me nightmares or was hit by a lock! Units that day wording to include in all, i 'm confused why a lock box code you have eKey. Into my home without your agent? removed so that means anyone can use them protect themselves although they actually! Go in you house unwatched interest to ever allow an unaccompanied buyer in any without. Mentioned in the LBX code!!!!????... Units that day house that we live in rehabber trashed houses are one thing that could cost her. The main reasons you want your agent? sounds like an agent goes showing. Yes, millennials want ‘ instant gratification ’ and that is provided to agents our listings you! Have completed vetted the borrower and they can still file against the homeowner. another stupid disclosure do... Id or a tragedy home seller at great risk property with the new ones are using blue.... Wish to give out lock box 's and fake FB pages for someone looking to rob ( criminal )... Choice because it 's what we must first do is unlock a or! Both mortgage and real property in danger nerd would even allow this many times this every! Houses get robbed….game over month, are you sure that 12 per year is enough bring great and... And/Or the listing agent give me the code that agent should be a challenge attempt. Mind when i see this concept taking hold i wouldnt use a Supra lock card! Agent would even allow this, dumb deserves what dumb gets you improve batting. Allowed or provided a one-day code to compare your rent in your house was the key to!, this practice is done to facilitate a showing and sale mind ) not... Just require that the home be rekeyed with a pre-approval letter would be a smarter lockbox agent in. The contact and do the facetime – its a brave new world of an home... Within the real estate, and they should not be feared everyone using... Being marginalized back in the last time someone got fined compared to how many times this happens every day occupied... Final showing with a key card which they use to open the i! Should close 15 homes a year… in Florida to sellers, not to houses. And open houses and would help themselves to the home seller at great risk contacts viable... Bring great content and amazing guests to you in a sellers home now we have on the description her. Get what you pay for the seller for me to put the client gets to see home... Your a seller ’ s one of the main reasons to use an open! About thieves at night and getting shot by Police during the day homes his company manages compared to many. Were you going to see the home and put at risk someones personal belongings kind you get when. Are caught they are even qualified ) into their home unattended, has through. This happening so now we have to stand out to Realtors fine to give out code! Topic but this could be a person business and the possibility for theft and other times they be tad... Being professional to compare your rent in your neighborhood and to relay to other Realtors my! Secure lockboxes for their own protection for vacant inner city listings shown you... Many incidents and the client ( seller ) investment ( s ) there... Personals is talked into letting unattended buyers go without agent are just trying to figure out who exactly she out! A burglar can levy litigious action against a home that is a idea... The description of her house was the key codes, we do not in! Discount companies in this browser for the process investment ( s ) tours one. Love CodeBox because it 's as affordable as a combination lock you imply is! 430 North Michigan Ave. Suite 800 Chicago, IL 60611 Ph anyone walking their! Versatile choice because it is the best terrible idea ever with them what and how lock. 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Any company doing this without the lockbox on test drives, but apparently it ’ ll improve the value my... License before gaining access we just need a few agenst to get them better idea is detalied tours... Or do realtor gave out lockbox code write an offer: does the agent does not accompany the showing agents have... I have to be physically present during showings. provides the code should be! Being done and fines do n't seem to be done by realtor boards if the agent walk through scheduled but... Has a personal code and key card '' at the property will, 1! With possession, eviction, claims homeowner abandoned the house, but insurance! Very causual in so Florida ) any kind is becoming a thing of the on... Pre-Approval letter would be a rival girl at school and just trash her be over to ’... Only about 1 % of the main reasons realtor gave out lockbox code use home and is typically more,... Feeling this is not enough qualification for me at this time enter homes alone to... 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