Today more then ever, it is critical for a seller to accommodate every showing request no matter the date, time or circumstance. To assist in this, the use of a lockbox - a small, hollow metal box that holds home keys and is securely attached to the front doorknob - is a great tool for a seller while their home is on the market.
By using a lockbox, there is no need for a seller to be home, for the listing agent to attend or for the buyer’s agent to pick up a key at the office. The home key is already located in a secure location at the home for the buyer’s agent to access.
A buyer wants a showing. Their agent wants a hassle-free, smooth showing. The use of a lockbox accomplishes both of these things. Showings are scheduled by the buyer’s agent at the convenience of the buyer, so a showing could take place on a Wed morning, a Fri afternoon or a Sun evening. A lockbox makes all of these showings possible.
There are two lockbox styles commonly used in the Orlando market.
Electronic An electronic lockbox provides a reliable, automated system for home access while a home is on the market. Any time an electronic lockbox is accessed by an agent using their “e-key” and pin number, their name, member ID, and the date and time is electronically recorded. An agent’s e-key is deactivated every 24 hours and requires a daily download of showing activity to be reactivated. A detailed record of all showings can be retrieved online at any time.
The electronic lockbox most commonly used in the Orlando market is the Supra iBox. Orlando Regional Realtor Association (ORRA) distributes and manages all iBox lockboxes and e-keys in the Orlando market. ORRA distributes iBox lockboxes and e-keys only to licensed Florida agents/brokers who are members of ORRA. An iBox and e-key are costly for an agent to obtain.
An iBox can only be accessed 9am to 9pm every day of the week. An iBox automatically locks out access for all other times. If an agent attempts to access an iBox at 7am, the iBox will register the attempted access and give the agent a “rejection” error message on their e-key.
Manual The Shurlok and GE KeySafe are the most popular manual lockbox styles used by Orlando realtors today. The listing agent self-selects an access code before securely attaching a manual lockbox to the front doorknob. The listing agent will then provide the access code to authorized agents for scheduled showings.
Manual lockboxes are helpful for providing easy access to other professionals involved in a real estate transaction such as home inspectors or repair personnel who are unable to access an iBox (these folks don’t have an e-key).
A manual lockbox is inexpensive and can be purchased by anyone at Lowe’s or Home Depot. This style of lockbox is also commonly used by FSBOs.
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