For Sale by Owner Risks
Saturday, May 24th, 2008That “For-Sale-By-Owner” Sign may be an Invitation to Complete Strangers.
If you consider selling your home on your own, envision this scenario: A friendly, well-spoken stranger wants to see your home. You invite her in. She compliments you on your home and asks to take some photos so her husband, away on business, can see the pictures online. You are flattered and have no objections. In fact, the prospective buyer has just taken pictures of some your most valuable possessions. If you have a security system, she may have taken a picture of the motion detectors and the security key pad in preparation for another, perhaps less well-intentioned visit.
Safety is always on the mind of a real estate professional. Alerts are posted on the Multiple Listing Service member website which reports suspicious activites. Thanks to these alerts, several suspects have been identified by police before more damage was done.
For Sale By Owner Sellers (FSBO) may be ignoring safety risks.
The FSBO seller likely lacks formal training in personal safety and is not experienced in dealing with complete strangers. Seemingly innocent questions by a “potential buyer” may be designed to find out who is at home and when the home may stand empty. The contents of the home can be at risk and, worse, so can be loved-ones, including children.
What’s the best protection for the FSBO? First, don’t be “home alone” when the stranger comes calling. If that’s not possible let someone else know when you will be showing your home. Have the visitor sign a guest book and ask to see identification. Equally important: don’t advertise the home as “vacant.” Other safety precautions include removing prescription drugs and valuables, such as jewelry. Eliminate evidence of personal contacts, such as which school your children are attending. Remove those photos and notes from the refrigerator door! Visit the National Association of Realtors website for more information on safety for home sellers.
Safety is KEY
Licensed real estate agents and their clients benefit from the security system managed by the Northwest Multiple Listing Service. The system records every entry and identifies all agents who have entered a property.
A critical element of the system is the daily update of the agent’s access code on a GE Supra DisplayKEY™ or similar device which opens the lockbox via infrared signal. If not updated, the code that allowed entrance into a home yesterday will not work today. The lockbox, located near the entrance of a home, can be programmed by the listing agent to suit the home owner’s schedule.
Every time the lockbox is unlocked and the house key(s) become available the safety system records the agent’s identity and time of entry. The listing agent can access the information to confirm this information not only for safety reasons but to gain valuable marketing information which allows immediate feed-back from all agents that have visited the home for preview or with their clients.
The Northwest Multiple Listing Service (NWMLS) Takes Safety Seriously.
The keybox safety system protects real estate agents, home sellers and buyers. Through their listing agent sellers will know exactly who’s been to their home and when.
A $5,000 Fine
The NWMLS takes safety serious. Using another agent’s Supra DisplayKEY™ or Supra eKEY™ key to gain entry to a property is a violation that carries a $5,000.00 fine.
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