It's Not Lockboxes...It's How Agents Use Them!

I simply say do what works best for your seller and what works in your market place. Real estate is local after all and so are showing customs.

Different markets indeed.  All my listings have lockboxes or combination locks.  They call me directly to make the appointments.  I don't have to be there.

Margaret  - so well said. It is not just a simple matter of putting info in the MLS, hanging a sign and putting on a lockbox (unless it's a distress sale perhaps) and you have done your job as a LA. I think it also varies from area to area and market to market. In high end homes we never see lockboxes used, for example.

Jeff

Very interesting, Margaret.  I've never NOT had a keybox on my listings....all of them.  However, that does not mean I have a carte blanche attitude toward showings.  MLS showing instructions never indicate there is a keybox.  Agents are instructed to call my office or myself for showing instructions.  What those instructions are varies by client/property, but in a market where less than 1 in 10 homes are getting sold, where we have about 17 months worth of inventory, and showings are at a premium, I don't think it's in my sellers' best interest to do anything that might impede a prospective showing...we need to make getting into their home as easy for the buyer's agent as possible.  If we don't, they'll simply say the one word we don't want to hear.....NEXT!!!!

Margaret.... I agree, well said... I have heard so many realtors abuse this. I had a buyer in Miami, Florida who dealt with two realtors until they used the person that I referred them to... who both realtors game the buyers the combo to let themselves into the homes. That is just sad and unprofessional.. besides being lazy.  And yes, it should not matter if it's an expensive house or below avg.  Again, well said..

Margaret, in our area we have multiple types of lock boxes and then appointment only too.

I have lockboxes on some of mine...there are sellers that request none and I attend. It all depends on the circumstances. One thing I do require is the same as you. I MAKE the appointments and all agents are to call me and get an entry 'call before showing' code. They DO NOT have access any ole time and I get the specifics and go through everything just to be sure they are wanting this property. If it's one thing I take pride in...is I answer my phone :)

Good post Margaret, I agree that not only expensive homes should get lock boxes..There are many considerations...My market deals with lots of multi family homes duplexes and triplexes and even more...Lock boxes are not that helpful or appropriate in these situations...In these situations we usually get all the tenants and occupants to agree to a 2 or three time frame schedule during the week and try to show during those times only..we then note that on the comments to other agents, that has worked relativly well...lock boxes are one of many tools we use...

I agree it depends on the sellers and it's a discussion I have with them and I alwasy document showing times in the MLS, some agents have been surprised to find that I actually set the access times on my lock boxes according to that. 

Different markets require different marketing. In NC we have Centralized Showing Service- all agents call the same number to arrange a showing. I would almost guarantee that if a buyer's agent had to call one listing agent after being able to make all the other appointments with a simple phone call, that LA house would never be shown.

Not to mention the fact that having the listing agent or the sellers at the house during the showing would really deter the buyers from freely looking around.

Angelia, You have worked it out but it still sounds like you are in control of your appointments.

Monika, That what makes this business work. We do accomodate so we can get properties sold.

Jeff, There are so many different situations. The main point is answering your phone right away for all appointments.

Judi, As an ACRE my dear, there is more than one way to service our clients.

Jeff, At least with the Sentri, the buyer cannot get the code. They must have the sentri card for entrance.

Gary, Thanks for stopping by. There are all kinds of lockboxes. I use the SentriLock like the one in the photo.

Sally, ..."I MAKE the appointments and all agents are to call me and get an entry 'call before showing' code. They DO NOT have access any ole time and I get the specifics and go through everything just to be sure they are wanting this property. If it's one thing I take pride in...is I answer my phone :)"  This is what works for me!

Carlos, These types of properties are more difficult and you have to have the sellers/tenants all cooperating on showing times.

Brian, Thanks for commenting. It depends on the sellers. You are providing the correct info. You are doing it the right way. You have taken charge of the listing.

AMEN MARGARET....As with many things "it depends"....I have actually seen in mls private remarks (seen only by mls agents) the following:  show anytime, lockbox "XYZ"...PUBLISHED RIGHT IN MLS!!!!!  It was a bank owned property, but how crazy! If something happens, the listing agent doesn't have a clue who has all been through there and when....that is irresponsible and lazy...

You are right, about the price of a home  not mattering,  in the lower end prices, and I mean the ones that are like 80,000, those sellers are paying the same percent as all other sellers, if not more when a minimum commision is in play, and that percent is a lot to any seller!  They all deserve our best!

LOL!  I agree, Margaret.  And all markets are different, and of course we have to be sensitive to both market conditions and client's needs.  Fortunately, most sellers here seem to "get it" that we need to find a good balance between respecting their needs and providing ease of access.  In prior years, where we did not have such a severe buyers market, we could afford to be a bit more selective.  Today, when buyers have sooooo many homes to choose from, where competition is so very high to get their attention, sellers are choosing to be a lot more flexible in their showings.  They are simply grateful for each opportunity.

Margaret,

I like your middle ground approach!!! True Professionals use many tools...all judiciously!!! Thanks,   Fran

Pat, When working with buyers and I call to make an appointment, I have had duty a person giving out the code (they are busy) asking NO questions. I have had occasions where agents have entered listings without making appointments. Our sellers need and expect our protection and security.

 Yes we do think alike but take a look at the comments on Matt's post that is linked above.

Margaret; you are right we do have a double standard. I don't use them on high end homes but consider it necessary for the more "normal" range.  And yes, agents are the problem not the boxes!

Margaret... true, I just got slightly off track. Sorry.... but yes, just answering your phone too.

Morning Margaret,

We use lockboxes when and if appropriate. There are many instances when they work, mostly on vacant homes, however in all cases the buyers agent must call to schedule an appointment prior to showing. We like feedback and this procedure provides a means for follow up.

Bottom line the problem(s) are the agents and not the device.

Margaret, I have lock boxes on almost all of my properties. I do not attend showings except on very rare occasions. However, by far, the majority of my listings are vacant. On the ones that are seller occupied, the sellers usually let the folks in and then disappear. I don't see any advantage to being at the showing in my market area.

Linda J, We have CSS in our area also. The concept is a good one...but only works when they answer the phone, when they have the right instructions. I have gotten to a listing where CSS has made the appointment, property on lockbox. But it was a combo and they did not know the number or the lock box was not in place or you needed a code to get into the building to get to the lockbox. The one call to me is faster than calling CSS. The system is only as good as the agent supplying the info!

Pat T, "It depends" but they all do deserve our best.

Judi, I knew you would be LOL. Just because this is a different market, we still need to give the same kind of responsible service.

Fran, May I quote you? "True Professionals use many tools...all judiciously!!!" I just did.

Eileen, Bingo. The problem is not the lockboxes.

Jeff B. You off track...no way. We both are proving; we answer our phone...always!

Hal, Well said!

Bryant, You answer your phone, You know which property has a lockbox and you are in constant touch with your sellers. I have listings with special seller needs, as  described above, that I do service and I do attend. But I always make all my own appointments.

Question to Listing Agents: who never make your own appointments, never go to showings:

Just how often do you(or a member of your staff) check the condition of  your listings to see if they are secured? Are the  lights, heat and AC adjusted, Is there any wind or rain damage. How about a leak in the water tank. No, we are not property managers but we do have a responsibility when we take a listing.

Margaret - as always, you're right on target! I have a specific page in my listing agreement that is to set up "how the house is to be shown". It lets me discuss it clearly with the Sellers, put it in writing and make sure there's no confusion.

BTW, I've given you the Lemonade Award.

I finished your book today. Stay tuned for my review. I'll be sure to give you a heads up.

Connie, Great idea to have a separate showing page in your listing agreement.  Lemonade award...you gotta be kidding. I will go check it out. You used to be one of my favorites. LOL

Bryant, Oh boy! I'm tuned in and standing by.

All of my listings have lock boxes, but are shown by appt. only.  My vacant homes can be shown anytime.  It works for me.

Margaret, I have electronic lockboxes on my listings.  I will meet agents to show if needed, but typically let the buyers agent show the house.  If I have a vacant listing, I am the contact person for the listing.  I talk to the agent and let them know that the listing is vacant, it can be shown.  I want to know who is going in and out of the house.

Hello Audrey, my new AR friend. Loved meeting you last Monday. 

Have you read Matt's post?  Are you Cheating your Sellers by using a Lockbox? Read this one and then read his follow up post. Would like to hear your take on them both.

Margaret,

All of my properties have a lockbox on them.  My REO properties are included in that and they must have an appointment to show.  All of the properties are check at least twice a month and the REO's have a month end report sent to the companies.  I also try to keep the combo lockboxes to an absolute minimum. I want to know who is in the property.

I have lockboxes on all listings and seldom am there if there is a showing.  But all are shown by appointment only.  I have had sellers ask that I be available during all showings and I do it.

Different strategies should be employed as the situation requires. Use of common sense and consideration should rule.  In Tallahassee, Realtors use electronic lockboxes which record the agent who used it and also restrict showing times to whatever is reasonable for a particular situation. This solves many problems.

As listing agent, our goal is usually to get the house shown as much as possible. To do that, we make it easy for Realtors to show it to their clients. It helps to have a frank discussion with the seller when we take the listing about accessibility and help them understand that requiring lots of notice and/or requiring the LA be present for appointments may delay the sale and/or not get top dollar since the number of buyers seeing the house is restricted.

Thanks for the post. I do believe showing the home is something I spend quite a bit of time on with my sellers. Each seller has their own set of circumstances to consider upon allowing agents in to view their home. I always formulate a plan tailored for each sellers needs. I do use lockboxes and ours are wireless so can go on line and see when an agent has entered the home. In most all cases(unless it's vacant) the agent needs to call first to make an appointment before entering. In today's market the sellers are grateful for each showing so are generally trying to be more flexible. Each area of the county is different but I think it is good to learn others customs, they might be able to be incorporated in our own!

Margaret, I find that most of my sellers want the lockbox, but I always talk to them about it.  If there are any special circumstances we address them on an individual basis.

Margaret:

Nice post. Good luck on the comments. So far looks like you have found a lot of positive feedback!

- Matthew

Hi Margaret - you are so right about every seller, no matter the price range of their property, deserving the same level of respect and treatment.  Every agent who wants to show one of my listings speaks to me, and I set up the showings.  Some are unaccompanied and some I accompany, based on the seller's needs, etc. 

I love Fran's quote that you used in one of your replies - I may borrow that one, too.

And I saw that Bryant mentioned your book - I'll have to look to get a copy to read.  I'd love to read "Real Estate the Rome Way", and get some new ideas to implement into my business - always looking for ways to offer stand-out service to my clients, and I suspect you have loads of that in your book, judging from the posts of yours that I've read over time.

Ann

Margaret;  I do appreciate everything that you have said about lockboxes, but, I believe that the house has to sell itself.  We conduct the marketing, and 'sell' the deal, and therefore, time efficiency is very important.  I use the lockbox every time I can.  Selling real estate is a process, and not an event, and thererfore I have to treat it like a business, efficiently.  I cannot be following up as much as I do if I have to be present when a property is being shown.  I can't do any 'selling' of the deal at the house with another Agent's client.  I prefer to speak with that Agent on the phone afterward, and do what needs to be done to get an offer.

Of course there are times when I have to be at the appointment because the Owner has specified it, or there is a Tenant that has done so, or some other valid reason.  I prefer to have the Office make  the appointments when possible, unless I just have to do it myself because I have to be there.  This just slows everything down.  Unless there are assistants to do this, anyone with several listings will become a slave to them, and have little time for anything else.

After 40 years in this business, I am a believer in delegating and lockboxes.

Sincerely,

Jeffrey

I think answering your phone is the most important part of our business! How homes are shown is very much a customs factor! I love to "cause the phone to ring", it is music to my ears!!!!

Seems like you have mixed reviews on your post... I guess there are many ways to approach it...  I cannot understand those Realtors who sit back, miss many calls and generally take a hands off approach on their listings... some only doing the bare minimum...  but on the other hand; there are others that go above and beyond the call of duty and make their choices on lockboxes, showings and the like responsibly.  Thanks for your take on it!

I always have a lock box or combo lock on homes listed. The only time I don't is when the seller doesn't want one and showings are by appt only.  I prefer the combo boxes myself. Alot less expensive and it works great with Realtors who do not belong to the MLS.

Happy 2009!

Hi Margaret,

I really enjoyed reading this blog. It's sure given me something to think about. I suppose on vacant houses it's usually a non-issue, but I sure can see where it would be a great service to the seller to not have to have them always be on a moment's notice to get out of the house for a showing.

Very good food for thought. Thanks for sharing your strategy.

Tamara

Hi Margaret,

Every market is different, we don't have lock boxes. Listing agents are always present at showings. I suppose our version of a lockbox is that the doorman or concierge have keys. Even when an apartment is vacant the buyer's/selling agent has to make an appointment with the listing agent. If the listing agent agrees to let a buyer agent show a vacant apartment it usually has to be set up in advance. The listing agent has to fax the building managing agent or doorman the selling/buyers agent's credentials in order for them to gain access to show.

I've had listings where the sellers had moved out or they were out of town sellers and the home was vacant but I still like to be present. I feel it is my job to show and answer questions. (type E personality)

Several buildings no longer allow Open Houses and many have enacted a policy where one agent has to be up in the apartment and another agent has to be in the lobby to escort the buyers to the apartment.

All the best for a Happy and prosperous 2009.

Hi Margaret, Great Post.

At the listing we talk about showings and the pros and cons of using a lock box. The use of a lock box has nothing to do with the listing price unless the home is bank owned. All bank owned get a lock box. In this area a lot of agents don't even bother to show a listing if the listing agent has to be present at the showing.

What I do is to change the LB codes often and request that appointments are by appointment only and confirmed with the seller unless they ARE A BANK.

It is againt all MLS rules to give out LB codes to anyone other than a licensed agent.

You are definitely on cue when you talk about setting appointments for your lsitings. IT is just one of the many opportuities to have that one on one contact with your seller. Happy New Year Michigan Wynne

Thanks Margaret, great post.  I agree 100%.  Showing instructions are always call listing agent for my listings.  The whenever possible I accompany.

Margaret, I do the same.  I carry my appointment book with my everyday.  I am able to grab the feedback easier:)

I just started reading your book.  I have been nodding my head yes almost on every page.  I also make my own appointments and could not understand doing it any other way for all the reasons you listed and a few more.

Hi Margaret,  I think lockboxes are nearly always a good idea.  You can put i the showing insturctions that there is a lockbox but they must call the listing agent before showing.  This gives you the chance to be there if you can (or if you want to), and gives you a chance to warn the sellers.  It also allows your sellers the ability to have a family day where they have asked that there be no showings that day.  For a vacant listing, I put no restrictions and let the buyers' agents go when they wish, but then I check the lockbox readings daily and call all those who accessed the house and ask them for feedback and/or answer any questions they have.

Margaret - all the homes where we have lockboxes have a "Call Before Showing" code, so agents can't just decide to open a lockbox (i.e., the seller is in the shower and doesn't hear the doorbell). We not only make the appointments, we have a chance to "market" the property to the showing agent, tell them about the unique aspects, and decide whether it would be better for us to be there or not.

Lots of good points here. Different sellers require different showing and appointment stragegies, whatever works best for them. I'm flexible and will do whatever is necessary to accommodate my sellers but I also try to get them to see it from the buyer's/their agent's standpoint and make it as easy as possible to show.

I use lockboxes, both elctronic and combo, but I don't post that on the MLS for agents to see. I confirm ALL appointments myself and YES I have been hassled about it by other agents and even my managers.

I simply don't trust other agents answering phones to treat all callers as I would as th listing agent. My sellers deserve my personal attnetion - and that means setting appointments, in my humble opinion.

But then I'm a control freak!

Interesting thoughts for the new year.

Don and Nannette, Thanks for sharing your systems.

Colleen, My properties get shown with ease. The appointments all go through me.

Dorie, We all need to be flexable.

Ann, Thanks for stopping by.

Matthew, Seems to be a touchy subject. Thanks for starting it. I am enjoying your posts

Ann Cummings, I admire the way you work. Thanks for the kind words about my book.

Jeffrey, I do treat it like a business. Apointments through me are faster than any office can make. I don't have to stop and look up numbers and showing instructions. I can confirm with the same call. I delegate but not the contact with my sellers!

Caren, Keep causing that phone to ring or, in my case, vibrate!

To No Name, Mixed reviews because there are so many different personalities..So is there a Right way or as I say a ROME way?

Bonnie, Combo boxes, in my opinion, are not safe or secure for the seller.

Tamara, My sellers really expect and appreciate my calls rather than CSS or some other impersonal contact. It really is a time saver for me in keeping in touch with my listings. Thank you for reading.

Call Mitchell Hall, How is that working? Don't you just love Ny? Thanks for your support and Happy New Year.

Lyn, Would love to discuss this with you. I will never be too busy since speaking with my sellers IS the best use of MY time. I do have a waiting list for sellers and only take the amount I can comfortably handle. I limit my listings to 15 at a time..

Wynne, "You are definitely on cue when you talk about setting appointments for your lsitings. IT is just one of the many opportuities to have that one on one contact with your seller. " Happy New Year ! 

Gabe, Wow 100% agreement. Thanks my new friend..lol

Frances, It is easier to grab the feedback. Thanks for commenting.

Randy, I appreciate your support and encouragement. Did you see that the book made Trulia's Top Ten for 2008? Happy New Year, my friend.

Susan, You have worked out a good  system  IF the agents follow the instructions. Checking the lockbox when an agent does not show does not help alleviate the frustration of the seller.

Sharon,"Call before showing" is the key! Have found that not everyone follows the correct procedure. We do think so much alike.

Kelsey, I like your approach...being flexible to accomodate your sellers.

Dee, Would love to talk with you and I understand "being hastled by agents..." etc. Sounds like we feel strongly about how we handle our showings and our sellers.

Mike H. Many more thoughts for the New Year. Make it a good one!

I learned along time ago not to put in any kind of instructions into Matrix other than CALL 1st CONTACT!

Interesting. I have always felt that it is more important to not have any impediments to showing but you make some excellent points about servicing your clients.

Marcy

Michael, It's nice to see another Maryland agent on Active Rain. When you say "Call 1st Contact", are you answering the phone?

Marcy, That is my point. one phone call to me, no impediments, your showing is made. Thanks for stopping by.

Pardon me for bothering you with this proposition.

We are group of  business organization as a cooperate lenders, Our area of business interest is to secure loan for investors, farmers, business partners, personal business emergency fund, cooperate organization, financial firms, companies, projects, or turn down by banks because of your low credit score, that is our interest of business. 

So considering your wild range of experience as an agent perhaps you could be of help by working as our agent too, to actually scout for interested business investors that seeks for loan  

We offer cheap and affordable loans at a satisfy interest rates. This offer may not be your interest but it may be the interest of your client, friends, organization, business partners, someone that want to start up a new business or who needs an adequate capital to expand his/her business. Our business is your business. We look forward to serving you.

So if you are interested write us and asked any question.  

This is our contact: wfalender@live.com

Tel: + 44-(703) 190-2845 

I find it curious that in this market of high inventory of homes for sale, that there are coaches teaching that you need to have as few as possible impediments to getting buyers in.  What you do makes a whole lot of sense to me, especially if they don't have to sell in a specified time frame.  It also kind of says the sellers are choosey as to who they will let purchase their home.  They care about it.  Or does it say the Agent is particular?  I don't know, but I do know it is a thought provoking article.  I went back and read I do and I do part II as well.  Nicely done!

Evelyn, Thanks. You are an absolute delight. I really enjoyed talking with you today. Wishing you a wonderful 2009. Let's definitely stay in touch. Look forward to reading your posts.

I have no idea how you do it, Margaret. I couldn't possibly be present at every showing. With 10 listings and 10 showings a day, I can't be in 100 places at the same time, much less even begin to THINK about working with buyers. My hat is off to you.

Elizabeth,

I am not present at all those showings but I do make EVERY appointment. So put that hat back on your pretty head.

With the use of lockboxes comes responsibility. One of my properties with a lockbox, agent went in and "forgot" the security code. Boom, the systme calls the seller in Texas....and I knew which agent went so I could make contact right there and make sure the alarm was reset and reassure the seller.