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What Are Lockboxes? How Do Lockboxes Work?

by / Tuesday, 19 March 2013 / Published in Home Selling Tips

When a homeowner lists their house with a REALTOR®, they may choose to store their house keys in the lockbox for easy access for the REALTOR® showing the home. In fact, these handy accessories have all but replaced the need to keep a key under the mat. And not to mention, they are a lot more effective and secure.

Why REALTORS® Use A Lockbox

It’s no surprise that REALTORS® like to sell houses, but they wouldn’t be in business for long if the homes they show were to be vandalized or illegally accessed by an unlawful individual. A lockbox works to prevent anyone, other than approved REALTORS®, from being granted access into the home. Not only does it allow the REALTOR® to be more effective in showing homes, but it also gives the owner some added peace of mind in knowing that their home is being protected.

The Cost

Lockboxes vary in price according to the unit itself. For instance, some lockboxes use a standard key to open while the more modern approach is a combination lock. In some cases, the seller may be required to purchase a unit if they prefer a REALTOR® use it when showing their home to potential buyers. In other instances, the REALTOR® will provide the lockbox free of charge. The best way to know for sure is to ask your REALTOR® about their policy relating to lockboxes and what, if any, cost will apply to its use.

Lockbox Safety

When it comes to protecting any vacant home, careful planning is a must. Many experts and homeowners alike believe that having a lockbox alone will not protect the home, but rather the unit together with proper placement would be the better combination for optimal security. Most REALTORS® recommend placing the lockbox in an area that’s concealed, one that’s not obvious at first glance, as opposed to leaving it in plain sight. Some may prefer to leave the lockbox near the entrance of the home because, after all, how many burglars would ever walk right up to the front door?

Now that you know where to place the lockbox, you need to know where not to place it. Never choose a location that’s far from the home or is inconvenient for the REALTOR® to access. In order to show your house to potential buyers, your REALTOR® needs to be able to get in the door and it’s not likely that they will be thrilled at the prospect of wading through an overgrown lawn, reaching blindly into a flower garden or sliding through the mud just to find your house key.

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