Question 1
When is it acceptable to give a lock box code to a home inspector or other third party who need to view a property?
a. Once a month
b. Whenever you aren’t available for the appointment
c. Any time
d. Never
Correct answer:
(d) Never
The Rules and Regulations are very clear:
SECTION 12 – TRADING PROCEDURES
12.08
With the knowledge and authority of the Listing Brokerage, keys or other entry systems may only be used by Members for the purpose of inspecting properties or showing properties…. the turning over of the key or information on the entry system to any Person not authorized by the Listing Brokerage, is an unauthorized use.
The member conducting the showing or inspection will remain on the premises during the entire period of access unless permission in writing has been obtained from the Listing Brokerage and will ensure that all security precautions are taken.
a) Keys shall be re-deposited in a lockbox immediately upon exiting the property and the lockbox shall be properly secured.
b) The member conducting the showing or inspection is solely responsible to ensure that all security precautions are taken prior to departing the property.
Members should not be giving lock box codes to third parties and allowing them to enter a locked property without either the listing or selling salesperson accompanying them. The member is responsible for staying with the third party for the entire time and ensuring the property is properly secured again.
Question 2
If you and your buyer can’t get to a showing at the appointed time, what do you do?
a. Show up whenever you can
b. Call the listing office to let them know
c. Call the seller
d. Nothing
Correct answer:
(b) is correct, and (c) may also be correct if you can’t contact the listing broker.
Again, the Rules and Regulations are clear:
Section 8, Selling Procedures
8.04 If a Member is unable to keep an appointment, the Member shall:
(i) where the appointment was made directly with the Listing Brokerage, advise the Listing Brokerage, or if direct contact with the Listing Brokerage is not possible, advise the Seller directly; or
(ii) where the appointment was made directly with Seller as permitted under these Rules, advise the Seller directly.