The use of lock boxes on properties to be sold or leased is common practice to facilitate the sale or lease of a property and is regulated by the requirements of the MLS services available within the state. For general information on the placement of lock boxes on properties listed for sale or rental it is imperative to review the specific terms and conditions of each listing service.
In any event, the safety and security of both real estate professionals and the clients they serve is of the utmost importance. This extends not only to all individuals involved in the sale and purchase of property but to the premises listed for sale or rent. It has come to the attention of the Commission that some licensees are not taking the necessary precautions to ensure that those clients interested in the purchase/lease of the home are being accompanied while viewing the property. In addition, properties are also being left unlocked and/or not properly secured after access.
Regardless of the reason – home inspections, room measurements, showing family members the home, etc. – no one should be allowed to enter the property without proper supervision and under no circumstance should unaccompanied access be granted without the seller’s full knowledge and consent. Failure to do so may subject agents to sanctions in violation of N.J.A.C. 11:5-6.4 and other pertinent regulations.
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