Ask Frank Anything: Buyback Costs

ARMLS Guest Blogger Frank

I sleep like a baby. It’s my clear conscience that does it. It’s simple with me. You ask a question and I answer it – frankly! That’s the plan.

Hey, I get it. Sometimes you just want a straight answer to a direct question. Now’s your chance, Bubba. Send your clearly articulated question on any ARMLS® topic to Frank using the form below:

So let’s start off with an inquiry about the latest hot topic – the Lockbox Buyback Program.

J.W. wrote in with a simple enough question,  “Why the markup on used lockboxes?”

Frank:To J.W. I say, Dude, unless you are excited about possibly being the next owner of a grimy lockbox with melted Oreo debris in the key pouch, then ARMLS needs to allow for staff time and effort to clean and approve these things before they are redistributed.

Let’s not forget that ARMLS staff also needs to transfer ownership of each device, maintain on-hand inventory records for each Support Center location and perform accounting transactions on each box as they are turned in. When a box is purchased, even more processing occurs to individually reprogram the unit with a new shackle code at the point of sale.  As you can see, there are legitimate staffing costs associated with running the new process.

The “markup” is in no way a profit-making strategy. The Lockbox Buyback Program simply offers Subscribers an alternative. Buy a new one at $95, a used one at $40 or $50, or feel free to negotiate whatever you feel is a fair price from a fellow real estate professional – your choice.

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