Lockboxes are tools used by agents of real estate to get a hold of keys of houses and properties that are listed as available for purchase. Lockboxes exist for the number one reason that it is an effective tool to ensure that only authorized agents could enter inside houses that are up for selling.

Lockboxes are called as such because that is what they are. Usually, these boxes are made out of metal and are attached to the doorknob in front of the house or any other secure area nearby. Inside this box is another smaller sized box. This is where the key of the house is located. This makes sure that no unauthorized strangers could freely come inside.

However, the lockboxes that are available now are more advanced. Current lockboxes contain a small microprocessor and utilizes an electronic key for it to be opened. This key would only be available if one is a member of a listing service. Each key holds a specially marked identifier. The agent who is a member of the listing service in their local areas are also assigned a unique and specific code that is highly personalized. Only they could have access to this code as they are not allowed to give it to other listing agents.

The purpose of this is so that whoever enters, the microprocessor sort of records or makes a log as to who went inside the house as well as what time and date. This is an effective security tool for the homeowner. But primarily, lockboxes are there in order to make it easier to sell a house.

There may be instances wherein the seller might leave the door open after giving buyers a tour around the house. Via the lockbox, there is no second guessing as to who did such and such. The questions of who let the cat out or who left the water running in the kitchen sink is no longer an issue since the identity of the agent who comes and goes is immediately known.

More importantly, lockboxes are great avenues for showing off property and houses one is intent to sell. Newer features of certain lockboxes limit the access of anyone to only a specified time, day and hours. This is in case the seller requires privacy once in a while. More complex lockboxes have a feature wherein agents are required to call first before showing up in front of the house they are intent on selling.

In the absence of a lockbox, the seller of the house would then be required to be present when a potential buyer comes by along with his or her agent. Because of the lockbox, the seller's presence becomes voluntary and not a requirement. This results in lesser amount of problems caused in conducting house viewing as only the buyer would be required to confirm the appointment. But in any form of technology, there are bound to be certain loopholes, which leads us to the question of whether security would be of an issue.