RED ROCK, INC.
Jean M. Price
Beware the Dreaded Lockbox!
A Lockbox is like a Green
to a Housebreaker!
The purpose of this
light-hearted cartoon is to draw your attention to
important issues you need to consider when selecting a
real estate broker.
What is it you expect your listing broker to do after the
property has been listed? How do you judge whether
or not that broker will do a good job?
At Arthur Lee of Red Rock, Inc., we emphasize service.
Every time your property is shown, there will be one of
our licensed agents there to supervise the showing
no exceptions. The security and integrity of your
property are of the highest concern. Also, each
customers reaction to the property needs to be
directly observed. This can provide both of us with
valuable feedback that may help improve marketing of the
property. That is why our agent is there.
Unfortunately, there are some less-dedicated real estate
agents, who rely heavily on cooperating brokers to
actually make the sale. They list your property on the
Multiple Listing system, then sit back and wait for
participating brokers to bring a buyer. It is common for
such agents to accept lower commission for their service,
which appears very inviting to the unsuspecting property
How sweet it is for that agent to collect half a
commission with little, or no effort!
One clear indicator of this practice is the use of the
lockbox. When another agency calls to show the listing,
the listing agent states that there is a lockbox on the
property, and that the cooperating agent may go there
whenever they wish. The lazy listing agent will give out
the security code to the box, and simply not appear for
They are doing you a grave disservice, because they are
not taking due care of the property entrusted to them,
and they cannot have first-hand feedback on the showing.
When you are interviewing prospective brokers, you need
to find out if they use lockboxes. As anyone who has
worked in sales will tell you, knowledge of, and
enthusiasm for the product is a key factor in sales
success. The same is true in real estate. It is the
listing agents responsibility to convey knowledge
of, and enthusiasm for your property, not just to the
buyer, but to cooperating agents from other brokerage
houses. Enthusiastic representation can make all the
difference between making, or not making, a sale.
The listing agent will fail to
adequately represent you unless there is an unyielding
commitment to full service of your property listing.
Lockboxes send the wrong message.
If you list with Arthur Lee of Red Rock,
Inc., we guarantee full service of
your listing all of the time