New Lockbox Distribution Program Begins in December 2013
A new lockbox distribution program will commence in December of 2013 and will provide most, if not all, KCRAR members with an adequate number of lockboxes for their residential listings. The following is an overview of how the new distribution program will work:
● Distribution of lockboxes will be determined by an annual “allotment” based on residential listing activity in Heartland MLS.
● In December 2013, each KCRAR member (who is a Supra key-holder subscribing through KCRAR) will be provided a lockbox allotment for use in 2014. The lockbox allotment is based on the average number of residential listings in Heartland MLS for each key-holding member from November 2012 through November 2013.
● Allotment lockboxes are leased to KCRAR key-holding members for the entire year at no cost. Members who may need extra lockboxes over and above their “no cost” allotment during the year may lease lockboxes on an annual basis at $2.50 each per month, prorated to March 1 annually.
● Each January for the life of the program, a new lockbox allotment number will be created for all key-holding members from the previous 12 months of residential listing activity in Heartland MLS.
● If a member’s annual allotment increases the following year beyond the number of lockboxes in a member’s possession, the member can pick up the extra lockbox(es) at any time within the 12 months at no additional cost.
● If a member’s annual allotment decreases the following year, the member will have approximately 60 days (until March 1, beginning in 2014) to return the additional lockboxes in their possession to avoid annual lockbox lease fees on the extra lockboxes.
It’s important to note that the new lockbox distribution program helps ensure members have the appropriate number of lockboxes as determined by their listing activity, but also encourages members to return lockboxes they don’t need. A primary objective of the new lockbox distribution program was to create a program that is equitable for all members. The old/existing lockbox program required all members who joined KCRAR after 2003 to pay for lockbox leases.
While most REALTOR® Associations across the country require their members to purchase lockboxes at a cost of approximately $100 or more for each lockbox, the KCRAR Board of Directors felt strongly about providing this valuable service to members at little or no cost. “This new lockbox distribution program is a huge financial commitment for the Association,” said 2012 KCRAR President Steve Banks, “but it’s a way our Association can truly help members by eliminating some of the costs of doing business.”
Please note: During the conversion period, members will be required to return all existing/old iBox equipment at the time they pick up their allotment of new lockbox equipment. The lockbox conversion will take place the first two weeks of December. Members can return and pick up equipment at a site near the Kauffman/Arrowhead Stadiums during the first week in December, or at a site in Lenexa during the second week. For those members unable to participate in the conversion during the first two weeks of December, lockboxes may be picked up and returned at the KCRAR offices during business hours between January 6-17, 2014.
As December approaches, please watch for more important details about the lockbox conversion, including personalized communication providing you with a total number of lockboxes leased to you (lockboxes from both the 2003 conversion and annual leased lockboxes) and an appointment date and time you are requested to attend one of the conversion sites near you. Between now and then, please be sure that you account for all lockboxes that have been leased to you.
Posted on Thu, May 2, 2013
by Mia Katz filed under