14 Businesses Doing A Great Job At The House Market

Being able to showcase a home without the sellers in the room to monitor every move you made was a step in the right direction for the real estate market. Agents are well aware of the scenario when a seller will stay at home while displaying but "pretend" like they are taking care of business, while the buyers tip-toe through the property, trying not to interfere while trying to get an idea of it was in.

This is a distinct departure of the typical open house when the sellers aren't present; buyers will be able to look around in order to gain a clear view of the home. In the absence of the sellers, the buyers get an opportunity to gain an idea of what the home might feel and if they imagine themselves living there. Simply put, it makes an improved, more pleasant selling experience.

In response to this problem, the lockbox was born. The lockbox was a device that secured the key to allow certified real estate agents who could provide prospective buyers with a tour, and it also allowed the sellers (or their representatives) the option of having the house shown without need to be present. It saved time, as well as facilitated a better display experience. This was truly an win-win.

However, early lockboxes were simply a combination lockbox. They're definitely not expensive however one of the main drawbacks was the lack of security the house in question once the lockbox code was known. Sellers could count on the ethical standards as well as the ethics and professionalism of agents to ensure the confidentiality of the code, but sometimes the code would end up in the hands of people who weren't agents. More often, the code could be discovered by those with malicious intentions.

With the obvious shortfall of not relying on honor systems to ensure that lockbox codes are kept secret and secure, it opened up the possibility for a better solution which would permit transparency and the ability to show a house with no seller present. As a result, it took only a few years for "smart" lockboxes using electronic technology to be created that revolutionized the process of displaying a house. Before , a seller and their agent could not even know whom was showing their property, other than the appointments that were made. Then, flash forward to today we have the ability to determine who , and precisely when, people show properties through the utilization of an electronic security lockbox. With these intelligent electronic lockboxes, only an agent or an authorized person can access the lockbox's contents, insuring a seller that only properly approved individuals are displaying or entering their home.

There are two main companies that offer these electronic lockboxes to real estate association associations. They are Supra key and Sentrilock. Together, they constitute the largest portion of the market for locking boxes The only other competitor is not even close.

Supra (or SupraKey) is owned by general electric and provides lockbox solutions to many niche industries including real estate lockboxes as one of the most popular. Bill Love, national account manager for Supra says that, within a specific area or region of the country, Supra, on average has a 80% market share. Supra has sold over a million lockboxes in the past to realtors and Love estimates that There are 1.5 million+ Supra lockboxes being used by approximately 750,000 real-estate agents across the United States.

The supra key itself features cylindrical shapes that run up to the "shackle" (the loop part of the lockbox which will tie around an object and hold it securely in place) in which the shackle is incorporated perfectly. Its simple design is pleasing to the eye. in order to turn on the lockbox an agent has a "digital key" that's about the size of a small flip phone and has a number pad and a screen on it. Agents set the key to unlock a box and point it at an infrared detector on the box itself. When the lockbox recognizes that it's being accessed using the remote digital key it will allow access and the inside of the lockbox's bottom will slide out when forced by the agent and voila, you have the access key for the house is now available for an agent to collect and let the door open for the viewing.

Love has stated that Supra will be making upgrades to the current model lockbox which will provide for wireless Bluetooth access as well as synchronization. In addition, instead the key that is digital in the event that the person who is using the key has a smartphone, Supra offers an app for use with the phone instead, making it simpler and more convenient with a monthly cost. Love says that the main advantage of the Supra Lockbox is that "it keeps intelligence in the hands of the user." Instead of relying on extra equipment or other tradespeople is in control. Supra has been operating its current model for a number of decades, but has had to make regular software updates along process. If an agent wishes to purchase a new Supra lockbox, it will cost around $90, but the actual amount that an agent pays is determined by the company they are a part of.

Sentrilock is the second significant player in the real estate lockbox business. Sentrilock, which is based in Indiana and is controlled by the National Association of Realtors has existed for just less than 10 years. It is now serving about 250 of the 1,000plus Realtor associations across the US and Canada in addition. These associations include around two million agents and more than 500,000 lockboxes currently used. Sentrilock has 2 main models that are currently used which is a silver lockbox which resembles a mobile phone that was made in the 1980s which is bulky and heavy. It is smaller than the larger lockbox. It has a key pad situated on the top of the lockbox itself, and houses the key inside the door, which opens open when you enter.

The other lockbox available is smaller and compact blue lockbox that is more cube-like in design however it has the same functionality features. The main difference between blue and silver lockboxes can be seen in the way that the blue box allows more space inside the lockbox (which is crucial for those trying to sell a condominium or other property and need to include an "access fob" in addition to the key for the front door of the property as there isn't enough room to accommodate multiple keys or the fob for access with Sentrilocks stainless steel lockbox). Sentrilock provides their boxes at about $125 a piece however, this can vary on the location you're getting the box from, since prices for retail are established by the regional real estate associations that market the boxes.

Both companies provide extensive guarantees on the products they sell. Additionally, they have an support team that's almost always at hand in the case of difficulties accessing the lockbox, or for troubleshooting purposes. Both companies provide an online tool which can give information on the results of showings and the use of the specific lockbox , which agents are able to use for sharing with their clients.

One of the major differences among these two are the manner in which the lockbox is opened. Sentrilock doesn't need an extra piece of equipment to access boxes. Instead, they use an "Smart-Card" which is essentially a credit-card that fits into the lockbox. It has a chip inside it which shares your personal information with the lockbox you are accessing. This card is all that you need to gain access to the lockbox unlike Supra requires a digital key. They have addressed this issue by way of a smart phone app to allow agents to use their mobile in lieu of the digital key. Both systems require an update; In other words the smart card that is used for the sentrilock system requires you to stick your card into a "card reader" that you get when you buy your smart-card that hooks into your computer. Every couple of days (the specific number of days is determined by your region's Realtor association) you have to update your card through the card reader. This will allow you to display your property as well as transfers the information about the locations you've shown on the systems of Sentrilock which in turn is then capable of being viewed by agents that owned the lockboxes of the places where you made use of. If you are in a pinch, you can change your card through by phone, however you're only allowed to do it at most once or two times.

The other way around is that supra keys can be updated wirelessly. The system wasn't always this way in the past, when you were required in keeping your "digital key" docked on an charging station hooked up to a phone line. It was required to update your key each day and the system would both update your card as well as send your showing data to the system. The wireless update feature has been around for at least a year ago, and has taken the headache out of the process of having to update your card every day.

The back-end system of Sentrilock permits an agent to design access codes specific to single-time access to a certain lockbox. This makes it extremely Informative post convenient for a contractor, appraiser and termite inspector. to be able to access any property by using a number that is only valid for one time because that code will expire when the date the code was intended to use. This is a wonderful feature that Supra can't provide a solution to.

While there are some advantages to both systems, an agent can't choose which lockbox system they'd prefer to use It is decided accepted and contractually bound between either Sentrilock or Supra as well as the community real estate club. The associations once they've settled on a choice of system, can "tweak" the system to their preferences and discretion. Things like the cost of a lockbox, if the lockbox is sold or leased at a cost to the agents involved, amount of times an agent is able to renew their keys by phone, and the number of days before an update of an access key is required all of these options can be modified, and the majority of real estate professionals are unaware of the other options or choices that exist.

When looking at the benefits of your traditional combination lockbox an agent has to be able to justify the extra cost of a digital lockbox using the value it can bring. It's easy to do so particularly when you consider the best interests of the seller at heart, as the smart lockbox provides the accountability of the seller and will provide a better safety and security safeguard for the show process and the house that it is. The information it collects on analytics and its capability to limit who can actually gain access to your home are tantamount to successfully being aware of the amount of interest of a property because of the number of people who are keen to view it as well as be confident for that the home will be shown using the best security way possible.

As of the most recent downturn that has hit the economy, real estate markets across the nation were swamped (and some remain) with foreclosure homes. Some real estate brokers were specialized in this type of distressed property enjoyed the top years of record-setting production for the 2008 and 2009 years. All of these properties needed to be showcased and sold needed lockboxes, however the value of the smart lockboxes offered by Sentrilock or Supra did not justify the expense of purchasing one, especially when distressed-property brokerages had inventory of 50 100, 200, 300 and 300 homes at a moment in period. The smart lockboxes were too costly, especially when you take into consideration that the house in question was located in the custody of a bank. it was vacant, and analysis of the showings did not matter for foreclosure properties that sells in no time and with numerous offers. If an agent is carrying at least 50 listings using an electronic lockbox, that requires $5000 worth lockboxes required on every property that are for sale. It is at this point that you can get a combination lockbox that is less expensive from Lowes priced at $7 will look better , and the price for the locks is considerably lower. It's a combination of utility value and overall price paid from a perspective of a real estate agent which raises the question, what is the reason why smart lockboxes are costly?

Simply put The market will accept this current price point of both the Supra and Sentrilock lockboxes as the benefits that they provide is well worth the price. It is true that some businesses have popped up with the intention of taking advantage of the large number of agents who want to sell their used lockboxes , as well in the agent market who don't want to spend retail for one of the lockbox(es) they need for their business. Blake Nolan, co-owner of San Diego based LockboxSwap created a website with a secondary market been established and is regulated for both the Sentrilock as well as the Supra locking systems. Nolan says that his business can assist agents to buy or sell their lockboxes. They can in the process, save costs and time. "Right now there is no real place online that offers what we offer" Nolan claims. He adds that "if you call into (any association) and ask about used lockboxes, or where to sell your own lockboxes, they say to go try craigslist or Ebay. We created LockboxSwap to address this vast and untapped market opportunity."

Nolan's' LockboxSwap company is planning to launch its new business this summer as well as the initial beta-testing users have received glowing reviews.

In the realm of Realtor lockboxes they are more popular due to the benefits of being able to protect homes, manage access and having analytical accountability far exceeds the value of a basic combination lockbox (or none at all) Although the 2 main competitors with respect to the Realtor lockbox marketplace have two top-quality products, they both fall just short of being perfect. They do a few things excellently and have capability that the other does not. It would be wonderful in the event that we could merge the two concepts and products, but since that is not feasible, it's the individual Realtor organization to speak with their members and decide which one is the best "fit" for them. In the end, at the end of the day, both organizations and their respective products even though they aren't perfect, offer competition among themselves, which keeps production and innovation on the rise while keeping costs in check. Companies such as LockboxSwap assist in this even more by inventing and establishing the precedent for a market that isn't even in existence yet but is able to offer a cost-efficient alternative to Realtor professionals for their requirements for locking boxes.

In any case, it's obvious that the field is moving forward in the right direction. we're witnessing technological advancements which help Realtor professionals perform their jobs better and more efficiently. it's interesting to observe what's expected in the near future , as well as the longer term. For now, Realtor professionals should be confident in knowing that while it's good where we are in the present, the future will becoming brighter and brighter.

If you're planning on buying or selling a property, choosing a real estate agent may be the most important decision you'll make. Real estate professionals who are knowledgeable can make a huge difference in terms of time and money. They will also make sure that the process of buying or selling can be an enjoyable and unforgettable experience. Here are some tips for choosing a real estate agent:

1. Ask Friends/Family for Referrals

Get your family members and friends to give their advice on local agents. So, you are sure to locate an agent with a positive reputation.

2. Take into consideration more than one Agency

There is an array of agents who will do anything to protect your company. It is for this reason that you should be interviewing as many agents you are able to. Compare agents with regard to their knowledge of the industry as well as their experience and credentials. Also, request references from past clients.

3. Select an agent who understands the Importance of Customer Care

If you talk to different agents you will be able to determine the quality of their customer service or how far they will go to satisfy their customers. Check out things like the way they handle phone calls and their willingness to meet with you.

4. Choose an agent who Handles Homes that match your price Band

When you opt for an agent that specializes in properties within their price range, you will be sure to be with an agent that will give their the best effort. Some agents focus on exclusive properties and are accustomed to receive high commissions. They are more likely to attend to these properties first.

5. Choose an Agent that Respects Your Time Schedule

If you will not be allowed to visit properties during business hours, you'll need to find an agent who is willing to do business after hours or over weekends.

6. Search for an agent You Can Communicate With

Communication is crucial when buying the property or selling it. Make sure you choose the right agent for you. Choose one who understands the needs of your clients and communicates well. You will be best off if you choose and agent that has an extremely high level of confidence to you or who you're able to get along with.

7. Choose an agent that provides Multiple Services

It's an added benefit finding an agent who handles the selling and buying process as well and other services, like arranging property inspections or who will refer you to an experienced real estate lawyer.

8. Choose an Agent That Can Negotiate

Negotiating skills is an essential quality for a great real estate agent. Make sure you select an agent who has proven negotiations skills.

9. Select an agent who has lots of Resources

Contact agents to inquire about where your property are going to be advertised. Make sure that the agency uses print advertising (newspaper/magazines) as well as other promotional material such as brochures. Also , check if the agency utilizes the Internet for advertising their listings.

10. Follow Your Instinct

Choose an agent that makes you feel at ease and with whom you are confident. You level of comfort and satisfaction will tell you whether you've met with the right agent.