BIC TIP #1322: Safeguard the Lockbox
When someone gives you the keys to their property, whether in residential sales, commercial, or property management, that is a very high level of trust. Stephen Long, your Notorious BIC, says we have to guard it with the utmost security.
Secure the Lockbox
- Make sure every lockbox you use is secure
- Make sure no one without lawful access gets the combination
- Do not use the same combination you have been using for 15 years
- Change the combination and codes from time to time
Stop Giving Out Combos
We do not want people coming back and using the combination when they are not supposed to be there. Giving out combos so people can enter a home without you is still a huge issue with the North Carolina Real Estate Commission. Unless you are the agent showing the property, do not give the combination to anyone who should not have lawful access, especially without the seller’s permission.
The Practical Takeaway
Treat access to a property as seriously as the seller does. Secure the lockbox, rotate the codes, and keep the combination with the people who are authorized to use it. Safeguard the property and you will be great.
This BIC Tip is general real estate education for licensees and consumers, not legal, tax, or financial advice. Rules and forms change, so verify current NCREC rules, MLS rules, and standard forms, and consult a North Carolina attorney or qualified professional about your specific situation. See Disclaimers & Disclosures.
