Registrant refers to any registered real estate sales representative, and
"There are nearly 40,000 realtors currently operating throughout the GTA, the board says..." (
https://www.cbc.ca/news/canada/toronto/number-of-gta-realtors-has-doubled-in-past-decade-1.2643410) (Note: this article was written 5 years ago, so who knows what the numbers have risen to in 2019!).
Each brokerage is supposed to have its own policies in place to adhere to. It seems this may be an area however, where there are regular breaches. Seems like there may be some room for error since lockboxes are operated on mutual trust, and not all humans can be trusted to play by the rules. jmo. Not saying this particular fellow did anything wrong, but it seems it is certainly possible that the lockbox could potentially have provided a way to access the home with 'no sign of forced entry'.
It seems way too coincidental, imho, that the home had only recently been listed, and had *just before the murders*, been featured with photos and floorplans available to the public via the internet. I believe there was also an open house just several days earlier as well, but not certain if that was open to the public or just to realtors.
Out of 40,000+ realtors in the GTA, I wonder what kind of percentages we'd be looking at for how many of those may not follow the rules. I also wonder - if a realtor had NOT played by the book, and had, say, given the code to a client, never thinking for a moment that something bad would come of it, how many might fail to come forward with that information, knowing they were responsible for 2 murders and a huge fine, nevermind huge publicity and public outcry?
Listing brokerages
Lockboxes are to be installed only with the homeowner’s written consent, and after a full explanation of the risks and benefits of placing a key in a lockbox that can be accessed by other registrants. Sellers need to make an informed decision about the use of lockboxes.
At minimum, the explanation of risks should include the possibility that:
- The lockbox may be broken into to gain access to the property, which could result in theft or damage to the property;
- An unauthorized person could use the lockbox to enter the property by gaining access to the code or breaking into the lockbox; and
- Keys may be lost or the lockbox may be improperly closed, allowing unauthorized access to the property.
Sellers should also be advised of the type of lockbox to be used, how frequently the code to the lockbox will be changed, and where it will be placed. Lockboxes should be located in a safe, well-lit, secure and accessible place.
In addition, sellers should be encouraged to contact their property insurers before agreeing to install a lockbox, as the use of a lockbox may impact the seller’s property insurance coverage.
Brokerages representing buyers
The following guidelines should be observed by registrants who represent buyers when showing properties that can be accessed by a key in a lockbox:
- All appointments, whether for registrant inspections, consumer showings, home inspections, or access by other service providers, must be made and confirmed through the listing brokerage before entering the property;
- If a registrant anticipates being late for an appointment or cannot make the appointment, the registrant should communicate any change of plans to the listing brokerage as soon as possible to cancel or reschedule the appointment. The buyer’s representative may also ask the listing brokerage if a registrant employed there is able to attend the appointment instead;
- Registrants who have booked and confirmed appointments with the listing brokerage to see a property that has a lockbox installed must only enter the property during the time specified in the appointment booking confirmation;
- Under no circumstances should a registrant communicate or provide a lockbox code to a non-registrant, including a buyer, for the purpose of having the non-registrant open a lockbox; and
- A registrant who makes an appointment to show a property that has a key secured in a lockbox must remain in attendance for the duration of the appointment, must ensure that the property is secured, and must return and secure the key in the lockbox at the end of the appointment. Under no circumstances should a registrant leave the property while other people remain unsupervised on the property. Nor should a registrant give the key to another registrant who may be following them into the property. If the other registrant is authorized, he or she will already have the lockbox code.
Regulatory Oversight
RECO regularly receives complaints from consumers and registrants relating to early or unauthorized access to properties. Most complaints involve inappropriately providing access to keys stored in a lockbox. Providing someone with unauthorized access to somebody else’s home is a very serious breach of trust.
Lockboxes - RECO Website