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What is a lockbox?
A lockbox is a box that stores the listing key. Also known as a
keybox, real estate agents hang a lockbox on or near a listing to
store house keys. Lockboxes come in two forms; mechanical and electronic,
and are opened with a special key, combination or both. Mechanical
lockboxes require a combination, a special key, or a key and combination.
Mechanical lockboxes do not record information and do not provide
time of day lockout. While they make a great closing
gift for the new homeowner, they are not recommended for use
in real estate due to their lack of security or combination control.
Electronic lockboxes require a special electronic key to open them.
Electronic lockboxes record who has opened them, capturing name,
date and time opened, and office and phone number. Electronic boxes
allow listing agents to customize the hours a box can be opened.
If a key is lost or stolen, those keys can be shut down and will
not work with the electronic box.
Why use a lockbox?
Lockboxes allow agents to quickly and easily show listings. The
keys are handily stored right at the listing, resulting in more
showings and quicker sales.
Since electronic lockboxes record who's opened them, if something
is missing or the cat has been let out, listing agents have an audit
trail of who's been in and when. Supra boxes have been instrumental
in helping solve thefts.
Knowing who's been in also gives the listing agent a marketing
tool. Follow up with prospective buyers and find out why they didn't
make an offer. Maybe new paint or carpet will make the difference
on a written offer.
With the ability to customize access hours in an electronic lockbox,
day sleepers and latchkey kids needn't be disturbed by agents who
might just drop by.
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