REINCheck

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VO [00:00:06] You're listening to REINCheck with Andrea Rice, Contracts and Industry Specialists at REIN, where you get the latest member news and information delivered straight from the source, REIN MLS.

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Andrea Rice [00:00:20] Hello and welcome to REINCheck. I am your host, Andrea Rice, and today we are checking in with Felicia Linsmier. She is REIN's Customer Service Supervisor. And we're here to talk today about the keybox recall. Felicia, thank you so much for taking time out of your schedule to be here today.

Felicia Linsmier [00:00:37] Thank you for having me.

Andrea Rice [00:00:39] Yeah. And so, you know, REIN is once again in the midst of a keybox recall. And while a lot of our members are familiar with the recall, we do have quite a few members who are new to REIN this year. And I was wondering if you could just, you know, let everyone know exactly what a keybox recall is, you know, in case they don't already know.

Felicia Linsmier [00:01:00] Yes. So REIN conducts a yearly recall to replenish our stock of keyboxes. That's to make sure that we have boxes on hand for our agents as they get new listings. The recall is for REIN key holders only, and it requires anybody who has more leased boxes checked out than eligible listings to return those excess boxes. So as a reminder for everyone, in order for a listing to be eligible, the listing must be active or pending for no more than 90 days. The lockbox type has to show as REIN, and you would also need to be listed as LA1 on a listing.

Andrea Rice [00:01:35] All right. Good to know. And how will an agent know if they're actually a part of this recall?

Felicia Linsmier [00:01:42] So if you are part of the recall then you should have received notification via postal mail, which will outline the number of boxes you're required to return, as well as giving you a list of the boxes that are currently assigned to you. If you're thinking you might be a part of the recall but you didn't receive a notice, please feel free to call customer service and we can take a look for you.

Andrea Rice [00:02:03] Okay, great. And what are the timelines and deadlines this year?

Felicia Linsmier [00:02:08] All right. So the reports were run on Monday, August 29th and mailed out that week. Excess boxes will be due on Friday, September 16th. Any boxes that are not returned by the deadline will be invoiced a replacement fee, as well as a nonrefundable admin fee of $25 per box. And the final due date for payment of those invoices will be September 30th.

Andrea Rice [00:02:31] Okay, so some important dates to keep in mind and what should an agent do if they already know that they have lost or misplaced a box?

Felicia Linsmier [00:02:42] So that's a great question. If you know that you're missing a box or if you're unable to locate the box before the due date of September 16th, please call customer service prior to the due date to pay the replacement fee of the box. As I mentioned earlier, any boxes that aren't returned prior to the 16th will be charged a $25 admin fee per box in addition to that replacement fee. So if you know the box is missing before invoicing, if you go ahead and pay for it, you'll avoid that $25 per box admin fee. Now, in any case, if you do find the box after paying for it, you can return it for a full refund. However, that $25 is not refundable. So if you wait, you won't get that $25 back.

Andrea Rice [00:03:25] Yeah, that's I think, a really important point to keep in mind. You know, don't worry, if you do find it later, you can always get refunded for it. Before we wrap things up, is there anything else that you would like to add about the keybox recall?

Felicia Linsmier [00:03:38] Yeah. So I would like to emphasize that recall credit will only be given for box numbers that are listed on your report. So be sure to check the box numbers you're returning against the numbers on your report to ensure that they count towards your number of boxes returned. Also, if you have any questions at all about your eligibility or the recall in general, please reach out to customer service and we'll be happy to assist you.

Andrea Rice [00:04:01] All right. Great. Thank you, Felicia. And I hope that, you know, gives you a little bit more insight into the keybox recall. Why we do one. What you need to do if you are a part of the recall. Thank you again, Felicia. I really appreciate you taking the time out of your schedule and helping us stay informed on this year's recall. And thank all of you for listening. I hope you enjoyed this episode of REINCheck. And again, if you missed any of the previous episodes, you can go to REINMLS.com and listen to all of the past episodes. You can also subscribe so that you get new episodes delivered directly to you when they are released. Thank you and have a great day.

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VO [00:04:42] You've been listening to REINCheck with Andrea Rice. Stay in the know from those who know. Delivered straight from the source, REIN MLS.

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