Comparing Lockboxes: A Must-Read for Home Sellers

If you’re using a for sale by owner service to sell your home and want to install a lockbox so buyer agents can show your property, this post is a must-read. There are tons of lockbox options, and unless you understand the similarities and differences, choosing the right one can be overwhelming. Keep reading to learn what you need to know to make an informed decision!lockboxes.jpg

First, it’s important to understand that there are two basic types of lockboxes – combination lockboxes and smart lockboxes (also commonly referred to as electronic lockboxes). Here’s what you can expect from each:

  1. Combination Lockboxes:

    These are simple to use and only require a specific set of numbers or alphabetical sequence to open the lockbox. The primary advantage of the traditional combination lock is the price, which starts as low as $20. 

  2. Smart Lockboxes:

    These use technology to enhance the security of your lockbox. Some smart lockboxes require an app that has been validated with an agent’s credentials to be accessed. Others use bluetooth and RFID technology to allow people to access the property. Some still make use of traditional lockbox features, like number pads. These vary in price a lot based on features, but generally cost between $150 and $250. 

Lockboxes to Consider:

  • Popular Budget Option 1 – Master Lock 5400D:

    Price Range: $22 – $40
    Style: numerical code padlock
    MLCOM_PRODUCT_5400D.jpgc26-MASTER-LOCK-B0002YP1VC-1-lg.jpg
    The Masterlock 5400D is a popular, budget-friendly option. The website says, “The Master Lock No. 5400D Portable Lock Box features a 3-1/4in (83mm) wide metal body for durability. The portable design offers removable “over the knob” installation. Set your own 4-digit combination for keyless convenience and increased security. The shutter door protects combination dials from weather, dirt and grime; and molded body and vinyl coated shackle prevent scratching. The Limited Lifetime Warranty provides peace of mind from a brand you can trust.It currently has a substantially lower price on Amazon than it does on the Masterlock site. Learn more about this lock.

  • Popular Budget Option 2 – Kidde Access Point:

    Price Range: $27-$35 
    Style: spin or numeric lock pad
    001166-portable-keysafe-push-titanium_1.jpg001012-Titanium.jpg
    Thanks to it’s affordable price point, the Kidde lock is another popular choice. Their website says, “Pushbutton or Spin-Dial version hangs easily on doorknob, fence, railing or pipe. Just open the lid, lift the shackle and hang. No tools necessary. Portable KeySafe is constructed of sturdy metal with protective rubber shell and is guaranteed never to rust.Learn more about this lock.

  • Mid-Range Option – Schlage Auto Locks:

    Price Range: $100-250
    Style:
    keypad lock & touch pad smart lock with app
    schlage-auto-lock.jpgschlage.png

    These locks make it easy for you to provide access to your property without fussing with a traditional lockbox. The numerical lock code is simply typed into the keypad attached to the handle and the door locks behind anyone who exits your property. As a bonus, you may want to take it to your new home and install it for personal use. The button model currently sells for $112 on Amazon. Schlage’s newest touch screen models include an app for more control and retail for $200+. See more details on their website.  

  • Affordable Smart Lock – Danalock:

    Price Range: $141 – $179
    Style: retrofit smart lock with app

    danalock125_EURO-on-white-door-iPhone-in-hand_wide5.jpgIf Dana wants you to know one thing about their locks – it’s that they are easy. The website claims these retrofit locks are easy to mount, easy to install and easy to use. And – they have a long battery life! The design is simple – as is the app you use to manage access. Amazon’s price is about $30 less than the dana site. Learn more about this lock.

  • Mid-Range Smart Lock – Quicklock DOORLOCK:

    Price Range: $169 – $184
    Style: uses bluetooth + RFID technology – replaces your deadbolt
    quicklock.png
    Touted as the world’s first bluetooth + RFID auto lock, Quicklock is a great option for anyone seeking some extra piece of mind. It fits any standard door and you’ll know who accessed your door because you’ll have access to an activity log. The log shows who checked in, who checked out and what time the property was accessed. Bonus – it’ll keep your teenager from bending the truth about breaking curfew! As an added bonus, it’s convenient to keep installed to make it easy to come through the door with groceries – so unlike some of the other options, it may be something you’ll continue to use home sale. You can buy this unit on the Quicklock site. Learn more about Quicklock.

  • Gadget-Lovers Lock – TOOR:

    Price Range: $99 – $149 (special pre-order pricing)
    Style:
    sleek smart lock with app
    TOOR
    If you’re looking for a sleek looking, premium product that’s fully-loaded with features, TOOR may be the lockbox for you. When featured on Shark Tank, TOOR introduced the world to the first-ever smart lockbox that allows anyone to have the freedom to schedule showings – with or without an agent. The innovative app makes it easy to make sure your showings go off with out a hitch and that your home and belongings are secure. To learn more about TOOR – check out their website.  

  • Multiple Property Manager’s Choice – Prempoint App + Bluetooth Lock:

    Price Point: app is free to download – cost for compatible lock varies by style
    Style: app that works with a variety of bluetooth enabled locks 
    phone_group_sat.jpg
    While this app is a little robust for the average seller, it can be a dream come true for an investor or rental property manager. The app works with a variety of bluetooth enabled locks and simplifies the process of managing access to multiple properties. The website says you can:

    • Create a virtual access location, or Point, which is as easy as setting a pick-up location for an Uber or Lyft ride.
    • Add connections to your Prempoint network, which works much like connecting with someone on LinkedIn or Facebook.
    • Authorize which connections have access to a Point you created. Now you and your shared connections can communicate about that Point within the app.
    • Add private and secure things to your Points like notes, devices, media, and documents.
      Learn more about this app.

Your choice will ultimately depend on your budget and preferences. If you’re on the fence on which lock to choose, a mid-range lockbox may be the perfect solution for you. If you have questions or would like advice on which route to choose, please contact us at info@homebay.com


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