Can Realtors Give Out Lockbox Combinations to Clients for Unsupervised Home Viewings?

In the world of real estate, the practice of providing lockbox combinations to clients is not as uncommon as one might think. However, it raises significant ethical and legal concerns. This article explores the practice, its implications, and the reasons why realtors do or do not provide lockbox combinations.

Understanding Lockbox Combinations in Real Estate

A lockbox combination is a code that grants access to a property through a lockbox, an alternative to traditional realtor attendance during viewings. While this practice has its benefits, it also comes with risks and potential ethical violations.

The Ethical and Legal Concerns

The primary concern with providing lockbox combinations is the security of the property. If unauthorized individuals gain access to the property, it can lead to theft, vandalism, or other forms of property damage. As a realtor, you are responsible for ensuring that the property remains secure. Providing lockbox combinations to clients could be seen as a violation of this responsibility. Additionally, real estate regulations vary by location, and providing lockbox combinations without proper permission can result in disciplinary action.

Scenarios Where Lockbox Combinations May Be Given

There are specific situations where a realtor might consider giving a lockbox combination to a client:

Established Trust and Relationship: If the realtor has developed a strong and trustworthy relationship with the client, and they are confident that the client is a serious buyer, the realtor might decide to give a lockbox combination. Pre-Approved Buyers: Clients who are pre-approved for a mortgage might be granted access to view properties independently. This can be useful for clients who need to quickly assess multiple properties. Open House Periods: During designated open house times, clients might be allowed to view properties independently. However, this should be closely monitored to ensure that security is maintained.

Professional Responsibility and Ethical Considerations

While the occasional demand for lockbox combinations might arise, realtors must prioritize the security and integrity of the properties they represent. Providing lockbox combinations without proper oversight and without adhering to local regulations can lead to serious consequences, including disciplinary action from professional organizations like the National Association of Realtors (NAR).

Modern realtors often rely on more secure methods of property access, such as electronic key boxes. These systems offer added security and better control over who accesses the property.

Conclusion

In conclusion, while there are circumstances where providing lockbox combinations to clients may seem beneficial, it is essential to balance convenience with the security and ethical responsibilities of the realtor. Real estate professionals must prioritize their clients' and property owners' best interests, ensuring all actions comply with legal and ethical standards. As a responsible realtor, it is recommended to maintain the physical presence during home viewings to guarantee property security and client satisfaction.