There are two types of lockboxes used in real estate – a combo box or an electronic box (called a Supra). Only someone with an electronic key or the combination can get into the lockbox and access the key.
The listing contract specifies whether you allow a lockbox or not. It is locked into place, usually on the front door and cannot be removed. Only other agents can access the key that is located within the lockbox. Without the lockbox, agents representing buyers would have to set appointments to gain access and view the home. While some people believe this would be inconvenient, we believe that it is important for a member of the listing agent’s team to be at all showings in order to truly represent the home. We want to be able to highlight the important features of the home and neighborhood and express the value and opportunity your home presents.
Not only that, but without a lockbox you won’t get any surprise visits from agents who haven’t called to schedule in advance!
Next: Real Estate Commission