Electronic Lock Boxes Provide The Best Security for Home Sellers.
Lock Boxes are a critical component in the home showing process. Realtors set an appointment with the listing real estate agent and use the code provided to access the house key in the lock box so they can show their potential buyer a house.
The majority of Realtors in the Denver Market use traditional combination lock boxes purchased at Home Depot or Lowes. These lock boxes typically feature a combination numerical or alphabetical code specified by the listing real estate agent. Although the code can be changed at any time, it does require dismantling the lock box to change the code.
Often, a real estate agent will rarely change their lock box codes. In fact, many real estate agents have used the same code for years on 1 or all of their lock boxes. This poses a potential security risk for home sellers. The same lock box combination code obtained for a showing can be used at any time to access the home by anyone who has the code.
The traditional lock boxes cannot provide a record of who accessed the lock box and when it was accessed. This is an additional security risk to the owner because access to their home cannot be verified.
Fortunately, there is an alternative to traditional combination lock boxes.
Here at The Tom Gross Team we provide each of our home sellers with a secure electronic lock box. The electronic lock box requires a unique individual code for each confirmed real estate agent’s scheduled showing. The wireless system provides a record of when the lock box was opened by the assigned agent.
The agent’s code is only valid for one day and we have individually programmed each of our electronic lock boxes so the code expires 90 minutes after the lock box is initially opened. This prevents the real estate agent (or their buyer) from returning to the house after the showing.
Denver Channel 7 recently featured a story regarding this potential security issue.
As the Denver Channel 7 story noted, the electronic lock boxes are far more expensive than the traditional combination lock boxes. Also, electronic lock boxes are more complex and require an annual service agreement and fee.
Realtors in Denver have been slow to adopt this security technology for their clients. Before you agree to have a lock box installed on your home consider the benefits of an electronic lock box.
If you have any questions or would like more information about the Tom Gross Team or our electronic lock boxes give me a call at 303-591-2116. I would be happy to answer your questions or discuss your real estate plans.