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Realcomp II Ltd

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Thursday, May 17, 2012

Divulging Lockbox Codes is Just Plain 'Bad Business'

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  • Lockbox codes are intended for use by REALTOR® professionals only (not consumers).
  • Agents should always accompany their clients on property showings–for the wellbeing and safety of everyone involved.
  • Revealing a lockbox code to a consumer is against the NAR’s Code of Ethics and Standards of Practice. Effective January 1, 2010, article 3-9 says: “REALTORS® shall not provide access to a listed property on terms other than those established by the owner or the listing broker.”
  • Providing a lockbox code or any other type of access to a property to anyone who has not been authorized by the listing broker is a fineable offense by Realcomp of $1,000 per occurrence (as of July 2010).
  • Providing a lockbox code or any other type of access to a property to anyone who has not been authorized by the listing broker can lead to unnecessary liabilities.
  • These policies & practices apply regardless of whether the property is vacant, bank-owned, or otherwise.
  • If you become aware of an MLS Subscriber who disregards this policy, we encourage you to report this individual to Realcomp’s Customer Care Department by email support@realcomp.com or by calling 866.553.3430.
  • Additionally, Realcomp encourages you to contact your Board or Association of REALTORS® to report the matter to them for further escalation.
  • Lastly, as the Listing Agent of a lockbox property, we encourage you to change the access code frequently. Changing the lockbox code enables you to monitor visitor traffic to the listing, ultimately minimizing hazards, theft, and unauthorized re-entry.

If you have any questions regarding this information, please email our Customer Care Department or call us at (866) 553-3430.

Created by fgreen
Last modified 2011-05-19 13:14
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