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#265479 - 12/19/08 07:29 PM Re: "The Way" vs. The Right Way & The Rules of This Forum [Re: Mr. Foreclosure]
shana Offline
Major Contributor

Registered: 11/06/07
Posts: 1602
Loc: Nevada
"Nar and the state associations do not impose any lock box requirements. Even if the local board wants lock boxes on a property the property owner can refuse."

I know of at least one local board that is now REQUIRING GE electronic Supra boxes (only choice) on all MLS-listed properties that have a lockbox. This means if the agent currently has a combo box on the property, they will need to purchase an electronic Supra box and put it on the property also. If agents don't comply, they will receive a "citation". what comes after the citation I don't know.

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#265491 - 12/19/08 10:31 PM Re: "The Way" vs. The Right Way & The Rules of This Forum [Re: shana]
Mr. Foreclosure Offline
Major Contributor

Registered: 09/01/06
Posts: 2834
Loc: upstate New York
Perhaps that board can dictate the use of the Supra lock box but I'm confident it is still subject to the property owner's permission to have any lock box.

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#265667 - 12/21/08 10:55 AM Re: "The Way" vs. The Right Way & The Rules of This Forum [Re: Mr. Foreclosure]
Devil's Advocate Offline
Veteran Member

Registered: 01/03/05
Posts: 538
Loc: Ontario, Canada
Lockboxes Locally a lockbox is not mandatory, but some years ago when it was announced that the electronic lockbox would soon be available, I made a telephone call to the national distributor and was told, to my surprised, that the local board had purchased quite a few of their lockboxes with the intention of selling them at a profit to their members and to subsequently follow up with subscriptions fees from their members.

Subsequently, the Board was promoting these new lockboxes and offering a credit to the members who turned in their current lockboxes, but never did they mention anything about the forthcoming subscription fees.

Basically, this credit was an effort to remove all the current lockboxes from the local market, with the only alternative being the new electronic ones.

The older and wiser brokers retained their older combination lockboxes and have never regretted doing so.

Important Notice: This information is provided as basic educational information by the author and is not a substitute for the advice of an expert and/or the advice of a lawyer. There is NO epresentation as to legality, accuracy, correctness of the herein information and the reader is strongly urged to consult a lawyer in the relevant jurisdiction to ensure accuracy before acting on this information .

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#265674 - 12/21/08 11:39 AM Re: "The Way" vs. The Right Way & The Rules of This Forum [Re: Devil's Advocate]
shana Offline
Major Contributor

Registered: 11/06/07
Posts: 1602
Loc: Nevada
^^^

yes, a manipulative tactic characteristic of the existing Board/MLS systems.

the bottom line is...the local board has no business telling local brokers and agents what lockbox they should use, while forcing them to pay more for eKey subscription fees.

that decision is a matter strictly between the broker and the client.

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#265682 - 12/21/08 12:21 PM Re: "The Way" vs. The Right Way & The Rules of This Forum [Re: shana]
broker Offline
Major Contributor

Registered: 08/16/04
Posts: 2066
Loc: Cary, NC
Amen. Revolt against the machine.
_________________________
the real estate industry is changing...

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#265806 - 12/22/08 12:26 PM Re: "The Way" vs. The Right Way & The Rules of This Forum [Re: broker]
Pikes Peak Offline
Major Contributor

Registered: 12/15/04
Posts: 2799
Loc: FL
Quote:
this effectively forces the agents to buy GE Supra lockboxes, if they previously did not use them. it also forces the agents to purchase the annual eKey subscription, paid to the local Board/MLS.


It is at the sellers option to use a lockbox or not, any type.
Obviously you don't care about the additional security features that the Supra boxes provide for your clients.

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#265811 - 12/22/08 12:43 PM Re: "The Way" vs. The Right Way & The Rules of This Forum [Re: Pikes Peak]
broker Offline
Major Contributor

Registered: 08/16/04
Posts: 2066
Loc: Cary, NC
Are you saying combo boxes are not as safe as Supra boxes? Shouldn't a broker/agent have the choice to which they use?
_________________________
the real estate industry is changing...

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#265838 - 12/22/08 04:07 PM Re: "The Way" vs. The Right Way & The Rules of This Forum [Re: broker]
Pikes Peak Offline
Major Contributor

Registered: 12/15/04
Posts: 2799
Loc: FL
Quote:
Are you saying combo boxes are not as safe as Supra boxes? Shouldn't a broker/agent have the choice to which they use?


Yes.
and
Yes. Brokers should have the choice of lock boxes, to NOT provide the best and safest method available if they so desire. (until they get sued by the seller or are not covered under their E&O for not providing the most secure method available)

http://www.srcar.org/supra_faq.asp

http://tinyurl.com/gymf5

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#265881 - 12/22/08 09:33 PM Re: "The Way" vs. The Right Way & The Rules of This Forum [Re: Mr. Foreclosure]
Bubba Offline
Member

Registered: 02/19/08
Posts: 39
Loc: Nevada
this is a ridiculous requirement, and should be of no concern to the local Board. The broker/agent is responsible for the management of the property. It is the broker/agent's and client's decision to determine which type of lockbox is appropriate. Any benefit accrues strictly to the local Board and GE, their exclusive vendor.

Shana

This requirement from the Board of Realtors in Las Vegas stems from the reality that a lot of agents give the MLS printouts to their buyers and if there is a combo lock box the buyer will have easy access to the house. This does not satisfy the requirement to ensure that only Realtors have access to the house.

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#265886 - 12/22/08 11:02 PM Re: "The Way" vs. The Right Way & The Rules of This Forum [Re: Bubba]
Mr. Foreclosure Offline
Major Contributor

Registered: 09/01/06
Posts: 2834
Loc: upstate New York
That is a BS reason! I use many combo lock boxes but never publish the code in MLS, showing instructions are for the agent to contact me for the lock box code.

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#265899 - 12/23/08 02:53 AM Re: "The Way" vs. The Right Way & The Rules of This Forum [Re: Mr. Foreclosure]
shana Offline
Major Contributor

Registered: 11/06/07
Posts: 1602
Loc: Nevada
^^

exactly. lockbox codes must be put in the "agent only comments" field of the listing, which is not visible in a client printout. MLS members are required to distribute ONLY the client printouts to clients.

for REO brokers, electronic lockboxes are usually an unnecessary expense.


Edited by shana (12/23/08 02:55 AM)

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#265900 - 12/23/08 03:02 AM Re: "The Way" vs. The Right Way & The Rules of This Forum [Re: Pikes Peak]
shana Offline
Major Contributor

Registered: 11/06/07
Posts: 1602
Loc: Nevada
Originally Posted By: pikes peak
Quote:
this effectively forces the agents to buy GE Supra lockboxes, if they previously did not use them. it also forces the agents to purchase the annual eKey subscription, paid to the local Board/MLS.


It is at the sellers option to use a lockbox or not, any type.
Obviously you don't care about the additional security features that the Supra boxes provide for your clients.


If the bank or client doesn't require them, then yes, the broker will use his discretion. the point is, this is the broker's decision. the local Board committee should not be making those business decisions for the broker. It's not the purpose for the Board's existence.

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#265947 - 12/23/08 11:20 AM Re: "The Way" vs. The Right Way & The Rules of This Forum [Re: shana]
Pikes Peak Offline
Major Contributor

Registered: 12/15/04
Posts: 2799
Loc: FL
Quote:
If the bank or client doesn't require them, then yes, the broker will use his discretion. the point is, this is the broker's decision. the local Board committee should not be making those business decisions for the broker. It's not the purpose for the Board's existence.


Do you have a link to your boards policy manual showing the required use of the SUPRA lockbox?
I can't believe it's in there.

Here is a link to ours.

http://www.pikespeakrsc.com/PPMLSRULES.pdf

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#356143 - 10/29/10 06:32 PM Re: "The Way" vs. The Right Way & The Rules of This Forum [Re: shana]
Temeculaproperty Offline
Member

Registered: 10/29/10
Posts: 42
Loc: Temecula, California, USA
i so agree with you. my board is fining people $500 for having combo boxes on properties without a supra. i asked the board what if the owner has a combo box on the property and they said it doesn't matter. my board also fines $500 if there is a minor error in a mls listing. i really feel the board is our enemy even though our dues pays their way.

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#356174 - 10/30/10 08:32 AM Re: "The Way" vs. The Right Way & The Rules of This Forum [Re: Temeculaproperty]
Devil's Advocate Offline
Veteran Member

Registered: 01/03/05
Posts: 538
Loc: Ontario, Canada
Locally: Lock-boxes

When the Supra Lock-boxes first came out, I telephoned the corporate office to perhaps purchase a number of their lock-boxes only to learn that they could not sell direct to me as their manager had just entered a exclusive wholesale agreement with the (local) real estate board, who in turn planned to retail them to their members.

In other words, in their promotion of lock-boxes the board had a profit motive.

An agent liability for the seller’s property is generally in the area of "gross negligence" on the part of the agent and difficult to prove, the agents defence is that they made a “reasonable” effort to safe-guard their seller’s property.

A combination lock-box authorized by the seller would be a reasonable in the eyes of the court.

Further, an agent would not be held liable, where it could be shown forceable entry of the premises occurred by persons unknown.


Important Notice:This information is provided as basic educational information by the author and is not a substitute for the advice of an expert and/or the advice of a lawyer. There is NO representation as to legality, accuracy, correctness of the herein information and the reader is strongly urged to consult a lawyer in the relevant jurisdiction to ensure accuracy before acting on this information .

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