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November 1st, 2007 · No Comments · MLS Boards

162,000 Lockboxes to be Deployed as Part of New Multi-Year Agreement

SentriLock LLC, (http://www.sentrilock.com) a leading provider of electronic lockbox solutions for the real estate industry, today announced that the Regional Lockbox Consortium will convert its entire lockbox system to the SentriLock REALTOR® Lockbox solution.

In choosing SentriLock over competing lockbox solutions, officials with the Regional Lockbox Consortium the largest group of its kind in the nation lauded SentriLocks system for its advanced technology and easy-to-use features. The Regional Lockbox Consortium comprises 21 REALTOR® boards throughout Maryland, Virginia, Delaware, Pennsylvania and Washington D.C. Originally organized by members of the Maryland Association of REALTORS® in early 2004, the group eventually organized as a separate corporate entity in March 2007 with the goal of upgrading their lockbox systems.

The Consortium will stagger its implementation over the next 24 months but has already begun purchasing some of the 162,000 lockboxes on behalf of their 45,000 members. Each individual REALTOR® Board or Association must still exercise their option to participate in the Consortium agreement with SentriLock.

SentriLocks lockbox solution is built upon its SentriCard® technology that also serves as the electronic key for the lockbox. SentriLock’s system is Web-based so all lockbox settings and showing information are easily accessible from any Internet-connected PC.

The SentriCard® is an ISO 7816 compliant smart card. Unlike their credit card counterparts, smart cards utilize an embedded chip that contains the security data for the lockbox system. This chip is immune to magnetic fields and employs tamper detection logic and circuitry. These high-security devices use 128 bit encryption technology, ensuring the cards cannot be copied or altered by unauthorized means.

About SentriLock, LLC

SentriLock LLC, founded in 2003, is majority owned by the NATIONAL ASSOCIATION OF REALTORS® (NAR) and is the official lockbox solution of NARs REALTOR Benefits® program. SentriLock has more than 150 REALTOR® Association clients using its REALTOR® Lockbox system representing nearly 200,000 agents. For additional information on the REALTOR® Lockbox system, contact SentriLock toll-free at 1-866-736-2322 or visit http://www.sentrilock.com.

About the NATIONAL ASSOCIATION OF REALTORS®

The NATIONAL ASSOCIATION OF REALTORS®, The Voice for Real Estate, is Americas largest trade association, representing more than 1.3 million members involved in all aspects of the residential and commercial real estate industries. Information about NAR is available at www.REALTOR.org.

REALTOR® is a registered collective membership mark which may be used only by real estate professionals who are members of the NATIONAL ASSOCIATION OF REALTORS® and subscribe to its strict Code of Ethics. Not all real estate agents are REALTORS®. All REALTORS® are members of NAR.

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