A realtor lock box hanging on the doorknob of a house for sale

A real-estate lock box is a padlock-shaped box that generally hangs around the doorknob of a house that is on the market. The device holds the keys to a house to allow communal access for all real estate agents, while continuing to keep them secure.[1] Permission is generally required from the seller, who is the owner, to install such a device on the door.[2] Lock boxes can also be used for the general storage and security of keys for the use of familial access.

Traditional real estate lock boxes are secured either with a manual key, a security code, or a swipe card,[1] while newer versions operate in tandem with mobile devices, incorporating logging and remote control and configuration.

Advances

New[when?] technology allows for computer generated codes to access the keys from a lockbox. When a buyers agent requests to see a property, a computer program will send a one time use code to the agent for a one time entry. This advancement allows for maximum security, and is nearly the equivalent to changing the lock every time a customer leaves. Other locks use mobile apps to grant access upon arrival of the customer.

See also

References

  1. ^ a b Callahan, John. Empowering Consumers with How To-torials: A Revealing Roadmap. p. 122.
  2. ^ Pivar, William H.; Anderson, Lowell; Otto, Daniel S. California Real Estate Practice. p. 182.