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Mandatory Lockboxes?

lock boxThe National Association of REALTORS® is considering whether multiple listing services and Realtors Associations should require their members to pay for some services that are now considered optional, reports Matt Carter for Inman News.

"At least three MLSs have notified NAR of their desire to require all of their subscribers to pay for lockbox services, citing security issues when members don't use the devices," says Carter.  

Most MLS services already require this, but making it a universal "basic" service could mean cost savings if everyone participates.

Ultimately, though, it means better security for home sellers.   "House keys kept in real estate offices can be copied, and combinations shared." says Carter. "Electronic lockboxes can only be used by MLS and association members, reducing the likelihood of unauthorized entries."

Real estate experts worry that this might increase the multi-list services power over associations.  They might adopt policies that the associations might not agree with.  

"If the NAR is considering whether to allow MLSs and associations to classify lockboxes as required services," says  it Cathy Libby, operations manager of Maine's statewide MLS, Maine Real Estate Information System, Inc., "it should also review whether other recent innovations like transaction management software, e-signatures and agent websites, could also be classified as basic, required services."

The NAR has decided to look at their policy statement adopted in 1996 and see if more changes are necessary.  "The committee informed the board of directors that MLS Policy Statement 7.57, "Categorization of MLS Services, Information and Products," will be "reviewed and revised, taking into account changes in technology and the real estate business" since the policy was adopted in 1996." reports Carter.

Read the full article at Inman News.

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Posted on November 13, 2012 14:42:39 by Blog Author Broker.IPTV
Blog Categories Posted in Technology And YOU

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