Which Is More Dangerous - Using a Lockbox or Agent Accompanied Showings?

South Florida Real Estate Podcast with Dan and Michael Nathanson

When you’re selling your home, should you use a lockbox or your agent for access to showings? We believe using a lockbox is the best option for a few reasons.

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When selling your home, there are two ways you can handle showings without being present. You can either use a lockbox or have your agent open the home for a buyer’s agent. We’ll go over the difference between these two options and tell you which one we believe is the better option.
There’s really no way to know how long people are going to take to look at a home. Some people are in and out in a couple of minutes and some people take 30 minutes to look at a home. If the buyers and I have to meet with the listing agent, they will usually ask for a 15- to 30-minute time window to meet us there. If the agent is at the third or fourth home we’re going to see, there’s no way to make sure that is timed correctly, which puts a lot of stress on the buyer’s agent.
Agents also might need you to work a showing into their schedule. However, showings should be set up based on what is most convenient for the buyer. If we’re starting at 10 a.m., it’s probably because my buyers work in the afternoon or have other appointments.
Using an agent to show your home doesn’t really add value. In fact, it could end up hurting your home sale. Buyers need to fall in love with the big picture of a home, which can be difficult for them to do when the seller’s agent is talking too much. In short, using your agent to show the property is incredibly inconvenient.

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Homes that use lockboxes get an average of 33% more showings.

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Lockboxes, on the other hand, are very convenient. Not only do lockboxes make it easier to show your home, but statistics say that homes that use lockboxes get an average of 33% more showings.
There are two kinds of lockboxes, combination and electronic. We recommend sellers use an electronic lockbox because combination lockboxes are cheap and are less likely to keep your home safe because they are easier to open.
On the flip side, electronic lockboxes can only be opened by actively licensed agents who are in good standing with the Realtor association. There is also a specific app you need to have on your phone, along with a fob that will allow you to open the lockbox. Anyone can download that app on their phone, but it won’t work without a 30-digit pin from the Realtor association.
We take the security of our clients very seriously, and the right lockbox used properly by the right agents allows more convenient access for showings. This means you’ll get a better chance of selling at a better price and you’ll spend less time on the market.
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As always, if you are looking to buy or sell a home or if you have any other real estate-related questions, feel free to give us a call or send us an email. We look forward to hearing from you!