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NAR Gains Key Acquisition in SentriLock

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As of December 2011, the official lockbox provider of The National Association of REALTORS® (NAR) is 100 percent owned by NAR, the organization has announced. Now directly accountable to the real estate community it serves, SentriLock, LLC, as the official lockbox provider for NAR, will continue to focus on providing high-quality, technologically innovative solutions that are backed by exceptional service.

“SentriLock is the No. 1-rated provider of electronic lockbox systems in our industry, and they have certainly met NAR’s goal of providing a ‘friendly alternative’ in the lockbox market,” says Bob Goldberg, NAR senior vice president, Sales & Marketing, Business Development & Strategic Investments, Commercial Services, Professional Development, Conventions. “They consistently design ever-smarter systems to meet the changing needs of brokers and their agents.”

100 Percent NAR-Owned

From the time SentriLock was founded in 2003, the plan was for the company to transition to NAR ownership. “Even when our developers began their work on our unique lockbox technology, the understanding was that SentriLock would move from being majority-owned by NAR to being completely under the National Association’s oversight,” explains Scott Fisher, SentriLock’s CEO. “This was part of our initial 2003 operating agreement, and we’re delighted that we’ve reached this milestone. Because NAR initiated the development of this lockbox technology for REALTORS®, it’s only fitting that NAR now takes the helm.”

From a day-to-day operating perspective, NAR’s increased ownership stake means business as usual. “SentriLock, since its inception, has always had its core values aligned with NAR’s to make serving the REALTOR® member priority one. We will continue in that tradition of excellence,” says Fisher.

Cutting-Edge Technology Designed for REALTORS®

With the help of industry perspectives and their NAR connections, SentriLock has updated their systems over the years to offer unique benefits to brokers and their agents. Because you can assign each lockbox to a specific listing, that box captures data every time the property is shown, including which agent has gained entry and when. The agent assigned to the listing receives—by their choice of text message and/or email—immediate notification of every showing. The system also sends an automatic request for feedback to the showing agent when they leave the property. You can then review the number and pattern of showings, and the feedback, to make decisions on factors like price adjustments.

Used by a Quarter of a Million Agents

SentriLock currently has more than 600,000 lockboxes in use by 250,000 agents from over 230 different REALTOR® associations and MLSs in the U.S. and Canada. The company’s REALTOR® Lockbox NXT has received more accreditations from recognized test laboratories than any other electronic lockbox product on the market today, and has the highest level of standards compliance.

And thanks to recent enhancements to the SentriCard® lockbox key, REALTORS® can now track open-house attendance, automatically solicit feedback for open houses and collect a list of attendees, all at no additional cost.

You can find out more about SentriLock at REALTOR.org, where you’ll find complete information, videos and a comparison product matrix.

Re:sources
www.REALTOR.org/realtor_benefits/benefits_partners/sentrilock_llc
www.SentriLock.com/tipsandtools/
www.youtube.com/watch?v=K36j791_fx4&feature=youtu.be

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