Sacramento Appraisers and Lockbox Keys or Lack Thereof

Sacramento appraisers without a lockbox key are at a disadvantage.

Sacramento appraisers who do not belong to our MetroList are somewhat like the real estate agents from the Bay area who want to represent buyers in Sacramento, yet also don’t have a lockbox key. Without a lockbox key, aka display key, a professional cannot access the common Sacramento Supra lockbox and open it. That puts them at the mercy of the Sacramento listing agent whom, regardless of her affinity to assist, is not required to cooperate.

In many instances, however, it is in the best interests of the seller for the Sacramento listing agent to help out. Since a Realtor is required to put the interests of her seller above her own, there could be some pressure for the agent to arrange for access to the home. The problem becomes more complex if the out-of-area agent without a lockbox key writes a purchase offer because that agent, believe it or not, is not entitled to a commission if she does not belong to our MLS.

The situation becomes who will give access to all of the home inspectors? Who will be present for the final walk-through? Who will show up to assist the buyer? Does the out-of-area agent have an understanding of how purchase offers are written in Sacramento or local customs?

It doesn’t mean the listing agent can’t pay a commission, though. We do it all of the time. There is little reason not to cooperate with a Bay Area agent, although we might say, if the tables were turned, we would NOT go to San Francisco, for example. We would refer the buyer to a specialist there. There is no quid quo pro. It also doesn’t mean the listing agent can’t help Sacramento appraisers do their job, even if the appraiser is not equipped for business like all of the other local Sacramento appraisers.

I will generally try to find a way to help out an appraiser without a lockbox key. I realize it is hard to make a living as an appraiser these days, being plucked from a random pool of appraisers, forced to accept discounted fees because the management company has its fingers into the fees. Although I have been known to call the lender and request a new appraiser when the appraiser is from out of the area, does not know the neighborhood, and is unusually demanding, on top of not having a lockbox key. I’d rather keep our appraisals local.

One of our Sacramento appraisers called me a few days ago to appraise a home in Elk Grove. We arranged an appointment with the tenant who, at the last minute, had to leave the house. Well, the appraiser could use the lockbox. No biggie. Except her key had died; she forgot to charge it. It was OK, she said, she could come back the following day.

The next day, she removed the key from the lockbox and by accident dropped the key in the grass. Oh, I’ve been there and done that. This is when you need one of those metal detectors you see old guys in sandals and socks on the beach using. Where are you gonna find one of those? She searched for 45 minutes and could not find the key.

It just means she didn’t look where the key was. Keys don’t evaporate into thin air. This poor appraiser was beside herself. It has never happened before. She was losing 2 for 2 on getting into this home in Elk Grove. I called the tenant, but the tenant was far away. The seller had given me her key, so she did not have an extra key; regardless, I checked anyway. Just as I was about to jump into my car and drive over to paw through the lawn with her, the appraiser found the key!