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If you’re on the Board of Directors of one of the REALTOR® Associations preparing to deal with the trial period for electronic lock boxes, you’ve probably taken some heat on the issue. I have most definitely been beaten up about it. So to heck with it all...I’m going to tell you why I think I want to use electronic lock boxes on my listings.
1. It seems, from what we hear from other users across the nation, to be a good system. The reality for users and clients in this marketplace will be determined in a trial period. I encourage you to try the system, keep an open mind, and get feedback from your clients.
2. This system allows for voluntary participation for those that want to use them without disrupting access to listings by those who do not.
3. I can obtain the date, time and contact information for anyone who accesses the lockbox. This verifies entries and allows me to find out who was in the property if any issues arise.
4. Specific access hours can be easily set to accommodate special needs of my clients.
5. Smartcards can be deactivated if they are lost or stolen; no entries by unauthorized individuals.
6. The system reduces my liability because I will know who enters the property and how many times someone may go back to the property without authorization.
So, I ask you these questions:
Do you trust every real estate agent that shows your listings? Wouldn’t you like a record of who is entering your seller’s property so you can assist them if problems arise?
How many times do agents fail to show consideration for our sellers by calling when they must cancel their showing? Wouldn’t you like to know if the property was shown or not?
How many times do agents fail to leave a business card when showing or provide feedback calls. At the very least you would know if the property had been shown.
How many times do your sellers have an issue after a showing, but you’re unable to find out who created the problem?
If some agents don’t care about these issues, how can you trust them? Why do you trust them? Should your client’s trust them?
If we want sellers to subscribe to our services so that together, we can sell their property, then we should be motivated to provide them with the most secure system possible. Maybe we can’t “save” our sellers, but we do have options to better protect their properties.
Let me get downright selfish about this whole controversial thing:
I want to know who has been in my listing, when they entered, when they left, and whether they came back in.
IF showing agents use a Smartcard (which is a feature of the voluntary electronic lock box system), then I have a record of every time they go in or out.
IF they don’t have a Smartcard, then they are issued a special one-time code good for one day. The code terminates 20 minutes after the lock box is closed back up. I have a record. And IF they go back in within the 20 minutes of grace time, I have a record.
We are working in an industry that is undergoing significant change. Technology offers the consumer more information that has increased their expectations. Brokerages are changing business models to remain competitive and profitable. The days of agents working in the office and attending training or sales meeting are nearly gone. Common courtesies, industry standards and keeping everyone informed about the transaction are no longer commonplace.
So, do I want more protection for myself, my company and my clients in this changing environment? You bet I do!
While I’m not suggesting that electronic lockboxes are the perfect or only solution, I am suggesting that the ability to verify entries and set times when access is prohibited is just one more tool to reduce my liability and increase the security for my clients.
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