When it comes to real estate, one term many people hear but don’t know exactly what it is, is the term Lockbox. A lockbox is a secure container that you put a house key into when you are selling the house. This allows Realtors access in case the seller is not around to let them in.
There are two types of lock boxes. First there’s the electronic lock box, which is the most prevalent one in use. With this key lock box the Realtor who is showing the property enters a four digit PIN number into their key. The key either be a standalone device or it can be their phone communicating via Bluetooth. There is an electronic paper trail which is left behind. In the memory in the lockbox, it keeps track of what realtor enter the property and when. There is also cell phone technology involved which sends a signal out to the local cell tower, which then transmits the information to the listing Realtors account on their lockbox website. In short it’s not possible for a realtor to use a lockbox key and enter the property without the listing realtor being able to find out exactly who was in the house and when. I
The other type of lock box is a manual one. It’s just a simple combination lockbox. It’s not very secure because there is no paper trail. But if a realtor needs to get access to show a house with a combination box, the realtor just needs to get the combination from the listing agent.