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Choosing a Lockbox

August 21 2013

This is the latest in a series of 'Buyer's Guides' that feature questions to ask and options to consider before making a new purchase. See our previous guides to purchasing a CMACRMDocument and Transaction ManagementElectronic Signature, iPad App, and Lead Generation solution.

What do I Need to Know about Lockboxes?

lockboxLockboxes have become standard for most real estate professionals. You've become accustomed to seeing them on your own listings and those of others – but are you really taking advantage of what this technology has to offer? A lockbox can be so much more than a mere security and accessibility tool. It gathers valuable data that can be used to make important strategic decisions about your listings. By doing your research and being selective, you can unlock the possibilities of this new technology.

Questions to Ask

There are some important questions to ask when buying any real estate technology product and some that are unique to choosing a lockbox.

First, let's look at general questions you'll want to ask.

  • What are my objectives for this piece of technology and will this product help me achieve those objectives?
  • What is my budget?
  • What kind of customer service and training programs are available? Are there webinars and, if so, are they recorded so you can view them at any time? Is the vendor's online help sufficient?

After you've asked and answered these questions, you can get down to the lockbox-specific questions:

  • Is there a preferred lockbox provider in my MLS or Association? Does my broker have a preferred lockbox provider?
  • How will the lockbox perform in adverse weather?
  • Does the lockbox require batteries? If so, what type and how long will they last?
  • What tracking and reporting tools are available?
  • What showing software integrates with the lockbox?
  • Do I need a specific phone or specific software running on my phone to use the lockbox?
  • How easy is it to schedule privacy times when the lockbox will not allow entry?

Your Options

For full details on your options for lockboxes and other technology products, download our 2013 Technology Guide2013 Technology Guide.

  • SentriLock: Owned by the National Association of REALTORS®, SentriLock is on the leading edge of the real estate industry. Their NXT Lockbox allows REALTORS® access to advanced logs and reporting tools. Discover how to use them to your advantage with the award-winning customer support from SentriLock.

Next Steps