When you hire a real estate agent to help you with the sell of your home, you will likely need to find a location for a lockbox on the outside of your home. Utilizing a lockbox is an important component of the selling process, as keys to your home and other locked areas of your property are contained within the lockbox. By keeping these items inside of the lockbox, the Realtor can easily access your home when it comes time to show it to a potential buyer.
Using Lockboxes to Reach More Buyers
In addition to the fact that the lockbox makes it easier for your Realtor to access your property, it also makes it possible for other agents to gain access to your home. Unless you have specifically requested to work exclusively with just one agency, your property will likely be listed in a database that allows other agents to show your property as well. If this agent makes a successful sale, he or she will share the commission with your listing agent.
Obviously, it would be a poor use of time for your agent to run the keys to the other agent. By keeping the keys in the lockbox, on the other hand, your agent can simply provide the other agent with the combination necessary to access the box and your house can be successfully shown to more potential buyers.
Types of Lockboxes
There are two primary types of lockboxes that a Realtor may use. In the past, the mechanical lockbox was the most commonly used. Although some Realtors still use this type of lockbox, it is becoming increasingly less common. This is because the more modern form of lockbox, the electronic lockbox, offers even more security than mechanical lockboxes.
Electronic lockboxes use electronic keys, which can be programmed to be automatically refreshed at certain intervals. This helps ensure that they can no longer be used after a certain period of time. In addition, electronic lockboxes can maintain logs of who has been accessing the box, so the Realtor can easily monitor who has been in and out of your property and at what times.
Whether you are still living on the property or have already moved, the lockbox provides for a convenient method for your Realtor to show your home at times that are convenient for potential buyers. It also helps you reach a larger market of buyers, which will only serve to help you sell your home faster!
Posted by Crystal Guthrie, Realtor. Crystal can be reached at 512-344-6000.