As long as real estate has needed security, lockboxes have proved to be crucial tools real estate professionals and their clients use to provide safe, controlled access to properties. Agents, brokers, and real estate professionals use and rely on lockboxes to ensure that prospective buyers and agents can tour homes efficiently and securely, helping expedite the showing and buying processes. Lockbox companies such as Sentri Lock, Supra, Master Lock, ShowMojo Box, and others have long supported the real estate industry. That said, recent lawsuits targeting the National Association of Realtors (NAR) have brought much-needed scrutiny to certain practices, including lockbox access policies. In light of these developments, we’ll take a good, hard look at the top four lockbox companies used by real estate professionals and discuss how these companies might be affected by the ongoing NAR lawsuits.
Lockbox Policy and the NAR Lawsuit
The lawsuits against NAR have made it clear that the (NAR) association often enforces an anti-competitive and restrictive lockbox policy (via their associated MLS companies). Traditionally, this policy allows sellers to place property keys in lockboxes, giving buyer agents associated with NAR the ability to access homes with seller consent. The “keys” to these lockboxes typically rely on Bluetooth technology, allowing secure access.
However, the lawsuits claim that only realtors affiliated with NAR and its associated Multiple Listing Services (MLS) can access these lock boxes. The plaintiffs in the case have often argued that this exclusivity limits competition by preventing non-NAR realtors from accessing properties, which may ultimately hinder the buying or selling process. This policy has often been seen as creating a “closed ecosystem” to the detriment of agents and brokers who are not affiliated with NAR.
Potential Fair Housing Violations by Lockbox Companies
The NAR lawsuit has not only raised questions about the exclusivity of MLS access but also about potential violations of fair housing laws. By restricting lockbox access to NAR-affiliated agents, current lockbox policies may inadvertently limit access to certain properties, which could prevent buyers from receiving equal opportunities in housing. This could potentially be seen as a violation of the Fair Housing Act, which mandates equal housing access regardless of race, color, national origin, religion, sex, familial status, or disability.
Restrictive lockbox policies could be interpreted as discriminatory if they inhibit the ability of buyers to view homes solely based on the affiliation status of their agents. For instance, buyers working with non-NAR agents have often been met with limited access to certain properties, which not only potentially reduces their housing options, but also their ability to build trust with prospects. Those types of restrictions could be seen as “steering” and result in unequal opportunities for buyers based on their choice of representation, which could constitute a form of discrimination.
Food For Thought: The two companies garnering the majority of DOJ attention for anti trust are Supra and SentriLock. While Sentrilock does allow for any real estate professional to conceivably receive a one-day access code to their lockboxes, Supra leaves that choice up to the board of each MLS company.
Moreover, any systemic practice that restricts access based on agent affiliation could be seen as creating unnecessary barriers that conflict with fair housing principles (you or your MLS company could get sued). Lockbox companies, as well as the MLS companies enforcing these policies, really must be careful they don’t indirectly contribute to practices that could be seen as discriminatory or exclusionary. Fair housing violations are not only civil infractions—they are criminal offenses punishable under federal law. If the lawsuit leads to a more open access model, lockbox providers would need to adapt to ensure compliance with fair housing regulations, reducing any risk of violating these crucial standards.
As the lawsuit progresses, lockbox companies that serve NAR-related MLS companies very well may see substantial pushback from the DOJ. With that context in mind, here are the top five lockbox companies in real estate today and what the future might hold for them in light of the lawsuit.
Sentri Lock
Overview: Sentri Lock is the official solution of the National Association of Realtors and is owned by the NAR. Sentri Lock has a keypad, which allows for access codes to people who don’t have a dedicated key. The key isn’t really a key; it is an app on your phone that opens the box using Bluetooth technology.
Strengths and Market Position: SentriLock benefits from its direct ties to NAR, which provides it with a built-in customer base and strong integration across many NAR-affiliated MLS systems. SentriLock’s app-based access also allows agents to manage and monitor access to the property in real-time, with features like secure access codes, remote entry tracking, and audit trails for enhanced security. As a result, SentriLock is highly favored by NAR-affiliated agents and brokers.
Impact of the NAR Lawsuit: Seeing as they’re owned by NAR and have exclusive integration with NAR-affiliated MLS systems, SentriLock could face significant market shifts if the lawsuits lead to policy changes that open lockbox access. A ruling mandating broader access could reduce SentriLock’s competitive edge by requiring it to accommodate non-NAR agents. This might compel SentriLock to adapt its model and offer more inclusive access options to maintain its market position.
ShowMojo
Overview: A showing management scheduling and software platform that integrates its own lockboxes and its scheduling and management software. ShowMojo is widely used by property managers and real estate professionals who appreciate the seamless integration of scheduling, automated access, and client management.
Strengths and Market Position: The company’s competitive edge lies in its integration capabilities, allowing agents to use their lockboxes in conjunction with their scheduling and management tools (similarly to their competitors). ShowMojo’s platform automates showing requests, making it highly efficient for busy agents managing multiple properties.
Impact of the NAR Lawsuit: ShowMojo might benefit if the lockbox access rules become less restrictive. As it serves both NAR and non-NAR affiliated real estate professionals, a shift toward a more open-access model would likely expand ShowMojo’s client base, creating opportunities for growth among independent agents.
Supra
Overview: Known for its durable Bluetooth-enabled lockboxes, Supra provides agents with real-time access tracking, granting enhanced security and transparency for homeowners, agents, and property managers alike.
Strengths and Market Position: Supra’s strength is in its high-tech features, including remote access management and advanced tracking. It’s one of the preferred lockbox systems in NAR-associated MLSs due to its ease of use and security.
Impact of the NAR Lawsuit: Their customer base is largely tied to NAR-affiliated agents, any ruling requiring open access could disrupt its stronghold in the market. However, Supra’s sophisticated technology would remain attractive to agents across all affiliations. This might prompt Supra to consider expanding its reach and offering services to non-NAR members in the future.
Master Lock
Overview: They have a longstanding name in security solutions, and they also provide real estate lockboxes known for reliability and security. With options for both digital and combination locks, Master Lock provides service for a wide-range of clients, including (but not limited to) real estate agents, property managers, and landlords.
Strengths and Market Position: Master Lock’s reputation in general security and adaptability across industries makes it a versatile choice in real estate. Its straightforward design and affordability make it accessible to independent agents and smaller brokerages.
Impact of the NAR Lawsuit: As Master Lock’s product offerings aren’t exclusively tied to the NAR, the company may see a boost if the industry moves toward a more inclusive lockbox access policy. That alone would make Master Lock an appealing option for both NAR and non-NAR agents alike, allowing the brand to further establish itself in the real estate sector.
BONUS: Showing Time (showing software)
Overview: Known primarily for its showing management software, ShowingTime also provides lockboxes from other vendors that moore seamlessly integrate with its platform. ShowingTime has a strong presence within NAR-affiliated MLS networks, as it allows agents to streamline their scheduling and access in one unified system.
Strengths and Market Position: ShowingTime is a leader in showing coordination and is widely regarded as a trusted source for MLS-integrated scheduling. The platform’s robust tools allow agents to manage viewings, access information, and track showings, making it indispensable for NAR-affiliated agents.
Impact of the NAR Lawsuit: Since it predominantly operates within the NAR system, a move toward an open MLS structure could lead ShowingTime to adapt its business model, potentially broadening its services to non-NAR members.
The Future of Lockbox Companies in a Post-Lawsuit Market
The ongoing NAR lawsuit has potential repercussions not only for NAR but also for the lockbox companies who rely on NAR-affiliated MLS systems. If the lawsuit forces lockbox policy changes that enable broader lockbox access across MLS affiliations, the market for these companies could shift in the following ways:
- Expansion of Client Bases: Companies like Sentrilock, Master Lock, and ShowMojo, which serve a mix of NAR and non-NAR real estate professionals, could see increased demand as more independent agents seek accessible and competitive lockbox options.
- Intensified Competition: The removal of NAR’s exclusive lockbox policy could open the door for new lockbox providers to enter the market, challenging established players like Supra and Sentrilock, particularly if new entrants bring innovative features or competitive pricing.
- Pressure on Technology and Security: The industry may see a push toward higher security standards and advanced technology to maintain client trust. Bluetooth-enabled “smart” lockboxes with enhanced tracking, remote access, and automated features might become standard expectations, urging lockbox companies to invest in technology development.
- More Open Ecosystems: The lawsuit could lead to a shift away from “closed” MLS ecosystems, where only NAR-affiliated agents access listings and lockboxes, toward a more open system that allows broader access. This could benefit companies that serve a diverse range of real estate professionals, as well as buyers and sellers who would experience more competitive representation.
The NAR/Lockbox Conclusion
As the real estate industry watches and waits for the outcome of the NAR lawsuits, lockbox companies will have to prepare for potential shifts in policy that could affect the competitive landscape. For now, Sentri Lock, ShowMojo, Supra, and Master Lock remain the best overall choices for agents and brokers. However, if the lawsuit leads to more open access, we may be on the brink of witnessing a reshaping of the lockbox market entirely. Companies that embrace openness adopt innovative security features, and cater to a broader range of real estate professionals are likely to become big winners when the dust settles. Real estate professionals should stay informed of these developments to ensure they’re aligned with the best tools and practices in the industry.
