Heath's Blog

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Insurance for Houses on a Lock Box - Another new insurance cost.

It must be insurance month.  The other day I posted about a new insurance product specifically for open houses.  Today I see one about lock boxes.  Although I agree that placing a listing on a lock box has some risks, I haven't seen an insurance offering for listings on a lock box before.  I don't use lock boxes, so I am not so worried about the insurance.  But, having a few listings on lock boxes listed by other companies can make showing homes a little easier.

The electronic lock boxes were tried here, but never took off.  We accompany all our real estate showings so we can hear comments, get feed back, and so we know who is actually going in.  Many agents here and off-Cape will give a non-agent the lock box code so they don't have to actually show the house.

I hope it doesn't come down to requiring more insurance for things like this.  Accompanied showings can slow down looking at homes a little, but it does make getting information not in the listing, less difficult.  I guess if some of the foreclosures that are on lock boxes weren't, they'd still have their copper pipes.

Happy Selling and Listing!

Heath Coker, Associate Broker
Robert Paul Properties
www.CapeGroup.com / capegroup@capegroup.com
508-274-5613  Licensed in MA
Its a beautiful day on Cape Cod!
@CapeGroup  Skype: heath.coker

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Comments

What will they think of next?  I have already had insurance companies cancel homeowners insurance just because the house was vacant.

Posted by Evelyn Johnston, The People You Know, Like and Trust! (Friends & Neighbors Real Estate) over 11 years ago

I have had one try and make a claim on a current policy, only to be rejected because the house was unoccupied.  Now we need insurance for the insurance. LOL

Posted by Associate Broker Falmouth MA Cape Cod Heath Coker, Heath Coker Robert Paul Properties Falmouth MA (http://www.CapeGroup.com & http://www.REindex.com) over 11 years ago

I go to all of my showings too and think it makes a big difference.  I've just started listing REO's and the banks require them whether I'll be there or not...

Posted by Maya Thomas, Broker, Please see my client recommendations. over 11 years ago

Yeah, boxes on bank reos make them easier to show.  There is a company here that "works" with a lot of reo stuff.  If there weren't lock boxes on them, they would keep the showings to themselves.  The low prices get a lot of attention.

Posted by Associate Broker Falmouth MA Cape Cod Heath Coker, Heath Coker Robert Paul Properties Falmouth MA (http://www.CapeGroup.com & http://www.REindex.com) over 11 years ago

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