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. $100 kit @ Tiger Direct! I love technology but I hate mediocrity. In those instances I can certainly see giving investors the code and I can see especially in areas of he country were you talking very low valued homes  that the RE broker is not going to want to be showing up at every showing to sell a 20k house and make their 1200 dollar commish that they have to split 2 or more ways.. It takes a long time to legally evict them, years even. 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. Your email address will not be published. Second, discount brokerage model aside, we as agents should be promoting better service NOT cutting corners. . I tell all my owners to tuck away small valuables as well as ALL medications. They said,"our agent said it was vacant so it was OK to give them the LBX code!!" Using a phrase of random words (like: paper Dog team blue) is secure and easy to remember. Use the Realtor remarks section of the MLS. We need to have control over our buyers because they can almost do anything over the internet already and this new system can give them even more “power”. Maybe they can submit it for an Inman Tech Award. I will also consider and look into a process of dening access to any Zip client without a member of my team being present, which in turn unless they are accompanied by a licesed Realtor at that visit, will immediate activate a procuring cause even via having the prospective unaccompanied prospect sign a BRNN (Buyer Representation Agreement) for that property and also any subsiquent other property we in turn show them. There are fifteen realtors in this market with the same first name that I was given by the people who showed up in my living room. Yes, millennials want ‘instant gratification’ and that is not a bad think. Why not just create a new "top dog" (TD) designation as a Realtor and invite your buddies to pay fees (based on closed sales) to join your "club"… and leave the poor appraisers (that also pay dues and user fees) alone ??? I never put a combination lock box on a home that is occupied because they are to easy to get into. Given their fine provenance, I thought it might be a challenge to attempt to decode one. This could allow buyers to go anywhere is the country without an agent, taking business from local agents. A few times the listing agent was already there at the property and other times they weren't. If (and our brokerage does) assign all lock boxes to a particular property that data is gathered and we always know exactly who/what/where a lock box was accessed. NUTS !!! I suspect the homes your locking at were the agent just gives you a code are OREO of some type  fixers no one living there and no real personal property of any value. 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. tell me her last name. Nevertheless, giving out a lock box code is simply NOT the right thing to do. Associations or MLSs may suspend the right of lockbox keyholders to use lockbox keys following their arrest and prior to a nal determination on any such charge if, in the determination of the association or MLS, the charge relates to a crime that relates to the real estate business or puts clients, customers, other real estate professionals, or property at risk. ALS 0618 4928 AMER 0909 5555 AMN 1215 5858 AMQ 1973 7145 AMQ- 2313 7559 CAT 2361 7711 DMC 2609 8306 FID 2658 8590 FMC 2952 HNB 3006 LIT 3872 LLS 3902 NRE 4372 OCN 4620 SNT 4625 SPI 4722 WLS 4923 7388 If you find that none of these codes work, try the last All in all, I feel this is a bad idea. She was out of town that week, but was a single mom with a small toddler. Has a pool.Buyer drowns in it. I said," yes". Lock boxes are designed to protect your valuables or personal information. This is just 1 little scenario. Each member has their own password to operate their key pad. The solution is simple, no lockbox on door and your realtor mist accompany all showings...problem solved. Andrew Berman is a wonderful friend of the NREP Daily. No way, you are duty bound to protect and represent the seller in all aspects of marketing and security is at the top of the list…jack poole. There are so many things wrong with this concept that it scares me to even think that Realtors would even consider it a viable option or tool. Crazie, I have sellers who are afraid of a lockbox with a liscensed agent. For traditional sellers of an occupied home, Bad, Bad idea. Yes, let’s go for it! Gave her clients her lock box code and key card so they could enter my home without an appointment and unaccompanied by a realtor. The phones can be tracked and have to be returned to the real Estste office and the ibox generates a time stamp to keep track of when it was opened… This still protects the home owner and the buyer still has to return the phone back to the office, yet allows them to go see the houses on their time. "Buyer agent to be physically present during showings." Buyers typically choose a realtor based on their performance history of selling prior properties. Maybe they can submit it to Inman for a Tech award. Keep up the good work. As soon as a few houses get robbed….game over. 1. Absolutely insane for a seller to allow something like this. It's a pain and takes time away from other business but it's what we do. I'd rather go see a house without someone who has something else on their schedule. There is no account ability. This is truly crazy…but I have a feeling this is only the beginning. Be sure to tune-in to MNN right her on the National Real Estate Post to see what Andrew has in store for you. The only way to incresas our professional standards, and the public opinion is to take control of our profession. My realtor sent me a list of about 30 houses that met my criteria. 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. Don’t many in the industry let “potential buyers” wander through homes without even providing an ID or a prequal letter? This way there's a record of exactly which realtors entered the property. If we use listing booster, visual tours, multiple photos, etc serious buyers know about the home and can arrange the appropriate showing time. Is this a home that you and your family currently occupy? Just another stupid disclosure like don't iron your clothes while wearing them. Mike Kalis owner of Marketplace homes won’t even call his clients, that lease the homes his company manages. I can’t imagine any seller with a halfway decent house saying “Sure, I don’t mind you giving absolutely everyone with a Facebook page and a driver’s license access to my home without a licensed Realtor present.”. Carry on the excellent works guys I’ve incorporated you guys to my blogroll. They feel safer! I went to show a condo and it had the owners phone number and still listed in MLS and when i called the owner she gave me the code after I gave her my phone number and she would have never know if i gave that code to 10 people to code or evern left the door unlocked!!! No risk to the now non-owner. I think we all might be a tad nervous our services are being marginalized. Realtor’s are professionals that are needed. John Santamaria If agents don't turn in violators none will ever be fined. Simply have it part of the showing instructions. After the showing, the agent can then lock the property and return the key to the lockbox, which is then available to … Just wait for the first law suite!!! She fired her realtor, I'm not sure if she turned him in for the violation though. The real estate industry has finally gone certificable nuts if this catches on – trust is the first and most important aspect of agency and what we as agents are most about. Only about 1% of the agents use it though. Some realtor -- and we're still trying to figure out who exactly she was. I would think that many people would prefer that the property was left open so they could just look around whenever they wanted to. Posted on May 31, 2010 by daytonapopalock. Or do they write an offer for a house they have never seen? Lance Owens not everyone can live in Mayberry 1955. Many REO companies do require a lockbox with a code, but not all do. Mainland USA. . 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. 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. Real Estate and Lock Box Codes. Ya gotta agree with Vicky but soooo many agents these days don't want to pay for the Supra Key…. That is why we are hustling daily to build a community where today’s top influencers and thought leaders come together to collaborate. If you've been left with a lockbox by a contractor or Realtor, it may be difficult to get it off. Danger and law suites in the future!! Apparently this model isn't the latest and greatest that emails the information right away. Now what if something happens to the home. Realtor MUST be physically present in order to show home to any buyer. For associations that use the electronic lockbox (ours uses SUPRA boxes/keys), each member has their own key pad with the serial number attached to their membership ID. thenationalrealestatepost.com © 2015-2021 National Real Estate Post. There are problems with Realtor’s stealing from listings, why make more problem’s for the process. 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. I will check with our MLS here, but I am sure an agent providing lock box codes for this purpose would be kicked off the board. Thinking at ths from the Sellers perspective – I feel it will not be tolerated in our market. Lazy agents creating this . They send hack emails attemtpting to redirect closing funds. This gives us an opportunity to screen the caller, get their license number, and meet the potential buyer and their agent at the property. How would you feel about a smart phone app that allows potential buyers to get a lock box code to tour a listing? I should come with an entry camera and a rolling programmable code on the lock box. 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. All in all, I feel this is a bad idea. Here in my MLS, My Florida MLS, it is up to a $5,000 fine to give out lock box codes. When is the last time someone got fined compared to how many times this happens every day. I am a licensed broker, certified appraiser, registered arbitrator for property tax appeals, and instructor for the Realtor University and the Real Estate Commission… and have a practice that dates to the mid-1970's… but I wouldn't "qualify" under your new rules – I don't "sell" enough to be an "active" Realtor. @Mary B. Allowing this type of unaccompanied access may seem like a great idea, it erodes the purpose of having a Realtor who was ‘hired’ to safeguard a seller’s best interest. They bring great content and amazing guests to you in a fun and interactive way. I’ve recently heard of real time video tours of homes and thought it meant the agent going to the home and FaceTime /Skyping themselves to potential buyers, not the other way around. They represent the most common known codes. . Goes into anyway. If a FSBO elects this type access, then they also accept the responsibility for anything that happens as a result. 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. First and foremost, while I think this is ridiculous, does the seller allow this? Stupid is as stupid does! After a few lawsuits and agent fines or jail time I feel the unprofessional agents will be gone. read Phillips response he has it laid out how it is.. the new lock box's can be programed to only open at certain hours and certain days and you can also access them with your I phone app. If that’s the case, simply have an open house sign in the front yard and level for the day with the front door open. And the best toilettes not flushed after potential buyers use. The durable nature of the lockbox is excellent, but you may be disappointed by the limited storage capacity. I can say that my agent's view on this is in line with @Jay Hinrichs  and @Joel Owens  take on it. I told her I did not want them coming to my house . These safety protocols are in place for  a reason. We do not put in the MLS that there is a lockbox. They may give you the code if it has a key pad on it, but they could lose their licences because of it. You then have no control. Why would someone let Buyers (not knowing if they are even qualified)into their home unsupervised. Obviously, using a digital lockbox on all listings is an important step to making a sale. Now this "facebook buyer" has the code forever. Sellers are nuts to go along with this. If it goes unreported how would everyone feel if this agent did it again and again and a month from now someone was seriously hurt or robbed etc. 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. Not worth your energy unless something got stolen/damaged. 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 love CodeBox because it's as affordable as a combination lockbox, but with the security of an electronic lockbox. 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. Just think of the number of people which have no intention of buying, simply using this service to view their neighborhoods home and are simply window shopping for fun. Great content for mortgage and real estate pros alike! (Your Purrrfect Realtor) Darlene. The combination method is typically more secure, since keys can be lost or stolen. My wife and daughter weren't home at the time. If a lower commission is the incentive that seems pretty stupid! Instead, Realtors should just take the simple steps to invest in the most secure lockboxes for their clients. If I were a listing agent I'd want permission from my seller in writing before I offered this type of service; in terms of security I can see it working better in a vacant house. 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. Lazy agents are the ones that would use it and we certainly don't need any more of them! In short you would only have listings, and there wouldn’t be buyer agents. I had no idea they were coming over unattended . No seller will TRUST just anyone walking thru their home. Let’s take this a step further. The Master Lock 5400D is a versatile choice because it is available for real estate agents on a budget. Barbara Anne West interesting how you imply illegality is taking place. Any agent wanting to show the property will, #1 Be required to pre-register before being given access to any of our listings. They called me first and explained they wanted to see the home but wanted an agent there. They couldn't (wouldn't?) The buying and selling process needs professionals involved. 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