Combo lock boxes...do your sellers realize the risk? Yes, I really believe there is a risk involved when using combination lock boxes. Often out of area agents that list homes here at Lake Anna will use combination lock boxes because they do not belong to the same association that we do and therefore use different types of lock boxes.
Even though our Listing Agreement has a section were it specifies that there are sellers that may not understand the ramifications when an agent has check off 'will not'. Many owners may not even notice and there are possibly some agreements that have the 'will' check off but still do not use the electronic lock box.
The most important disadvantage is the insecurity posed by using combos instead of an electronic box. There have been a number of out of area agents that I have called, simply told them my name, the fact that I am a REALTOR® and the name of my company. Hardly any, if any, of these agents know me and many probably do not know the names of all of the real estate companies here at Lake Anna. How do they know I am who I say I am, that I am indeed a REALTOR®, and that I am affiliated with Dockside Realty? They do not!
Yet, when I ask for the code to enter a house they give it to me.
What kind of secuity is that?
It is important that both sellers and their agents know exactly what is in the contract (Listing Agreement), what has been checked off and what is expected from all parties.
Sometimes combo boxes are used to facilitate other agents access to a listing and that does make it easier for the listing agent instead of having to come a distance to open up an electronic one that local agents cannot access. Perhaps that is one more reason it is wiser to use a Local REALTOR®.