Posted by MIRELA MONTE on February 23, 2009 at 11:01am
Agents Using Cheap Lockboxes: A Legal Liability Waiting to Happen?Our MLS lockboxes are very expensive - they cost just above $100. They are computerized lockboxes that take a reading of every agent showing the property. The listing agent can get on the Supra Website (the Lockbox Vendor) and ascertain exactly when the property was shown and the agent who showed it.The agent's name, telephone number and e-mail address is included, so the listing agent can quickly follow up on the showing and see how it went. Staying on top of the showings has been very beneficial to me as a listing agent. Possible problems are ascertained early on and corrected. Objections are addressed promptly and offers are encouraged more efficiently.Our MLS lockboxes are extremely safe: they are programmed to allow access into the property only between 9am and 9pm. Unless the person trying to gain access to the lockbox is a registered, active board member in good standing, he will not be allowed to penetrate the lockbox, which is indeed impossible to break into. Each agent is assigned a special Supra Key that has several layers of pass codes and protections, so that a lost key is virtually useless to anyone else other than the agent the key was issued to.In spite of all the advantages a computerized lockbox confers, many agents in our area do not use them due to their high cost, opting instead for the very unsafe lockboxes priced under $20 and easily available at most hardware stores. These cheap lockboxes have a code you can program for access, a series of three or four letters or numbers. If you give someone the code, they can come back again and again and gain access to the property at any time. If the numbers are not rolled back after the showing, any intruder can also gain access to the property.In my opinion these lockboxes are extremely unsafe, and I will not use them on any of my listings. They are a legal liability waiting to happen and I am perturbed by their frequent usage in our market area. I am amazed that some very expensive homes with high end furnishings have these flimsy lockboxes on. I wonder why the Sellers are not asking their Agents some hard questions...What are your thoughts on this subject?Mirela Monte, Your Myrtle Beach Real Estate Connection Join the Optimist Group!
I hate these bulky, troublesome electronic lockboxes. Seems my "card" always requires renewal when I need it most. And if I am in the boonies out of cell range...tough luck. AND YES, they are expensive. I suppose if I was selling 1M+ homes I would want to use them. Unfortunately, our median price is about $150,000.
As for agents going in again and again...well, we are SUPPOSE to be professionals, aren't we!!! (That is a joke in Indiana..mirror foggers indeed!!)
The Phoenix, AZ MLS also uses the SUPRA box's and I personally would never put a combo box on a property that is occupied and or has personal belongings. To much risk and liability. Many of the REO agents use the combo boxes as the banks require one be available and the cost to install the SUPRA box and a combo is deemed to be to costly? Are we setting the industry up for an image problem by the failure to use the best available and most secure box's? I think so and have raised the question more than once only to be turned back with comments of its to costly for members. How much is our image worth?
I definitely agree on using the electronic lockboxes - every time. Yes - they are more expensive. Yes, it's true that if someone wants in somewhere badly enough - they WILL find a way. However - the combo boxes are a JOKE. Not only are they less secure than the electronic ones (we use Supra in KC also) - but they are a ginormous pain - they all open differently, and standing there for an extra minute jacking with entering a code anyone can watch over your shoulder & memorize puts the agent and the listing in unnecessary jeopardy. I can type in my code for my E-key in the car, and it will search for 5 minutes - so all I have to do is walk up to the box and Tah-Daah! I am in. In addition, having the info of every person who enters the property & when is well worth the extra cost.
Mirela our MLS had the same lock box problem that Tinarsha described. Last year 70 houses were broken into by the same criminal via the Sentri lockbox using the method Tinarsha described. The criminal was caught but please know that the expensive boxes are no more secure than the cheap ones. The furniture he stole from all these houses was never recovered. I also belong to another MLS in a different state and we use the Supra boxes there so I know about both brands. Let's not have a false sense of secuity because we are using expensive lock boxes.
here is the issue i have with those lockboxes (supra) in our area. during the winter months on occassion they freeze up and wont release the key. it does not happen all of the time but it does happen. anything mechanical has a good chance of having issues in the Wisconsin and Minnesota areas due to to extreme cold, snow, and icy conditions we have.
I use the 100.00 lock boxes and recently had one of my listings broken into via the 100.00 lock box.
They used a sledge hammer to break off the exterior blue plastic, then the used an instrument to bend the metal back and gained access to the key. I thought these boxes were Super Secure. I contacted GE (the lock box manufacturer) and they said their boxes are not guaranteed. Needless to say there was no comfort in that information, we contacted the police and was informed that this is becoming common and my case was not the first time they've seen this done...I am not a fan of combo boxes, just for the reasons of unlimited, unknown access.
Mirela kudos! I am hoping for an exodus of agents at CT license renewal time in May that have the mentality of not spending money on their business... However, let's put the blame where blame belongs for this type of mentality... the Broker/Owners who hire anyone that fogs a mirrio and never teaches the attitude to thrive.
Our MLS uses Sentri, which I love and will only use. Some agent who do REO claim that they have to use the cheap boxes because thier banks and lenders require them to use the same code however, with Sentri, each box can be programmed with any unique code in order to make your lenders and banks happy.
Regardless, the MLS lockboxes are the only way to go.....at least as for protecting yourself from the liability as outlined in your blog...which is great!
Comments
As for agents going in again and again...well, we are SUPPOSE to be professionals, aren't we!!! (That is a joke in Indiana..mirror foggers indeed!!)
Jesus: I'm glad you agree!
Tinarsha: I guess where there's a will, there's a way...
i agree they do have alot of upside though.
They used a sledge hammer to break off the exterior blue plastic, then the used an instrument to bend the metal back and gained access to the key. I thought these boxes were Super Secure. I contacted GE (the lock box manufacturer) and they said their boxes are not guaranteed. Needless to say there was no comfort in that information, we contacted the police and was informed that this is becoming common and my case was not the first time they've seen this done...I am not a fan of combo boxes, just for the reasons of unlimited, unknown access.
Regardless, the MLS lockboxes are the only way to go.....at least as for protecting yourself from the liability as outlined in your blog...which is great!