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RMS Mortgage

RULES AND REGULATIONS FOR THE SENTRILOCK LOCKBOX SYSTEM REALTOR® Members

I. Definitions:

            A. “Association” refers to New River Valley Association of REALTORS®

            B. Lockbox refers to Sentrilock System.

            C. SentriCard® refers to the Smart Card or any future product introduced by Sentrilock.      

            D. SentriCard® Holder (“Holder” or “Cardholder”) is any licensed real estate associate or licensed appraiser under the supervision of a Designated REALTOR® or certain Affiliates as defined in the Personal Assistant and Affiliate Members addendum to these rules, who has executed the Sentrilock SentriCard® Authorized User Agreement (“SentriLock User Agreement”).

            E. Designated REALTOR® (“DR”) is any principal broker or his/her designee or principal appraiser in accordance with NAR rules.

            F. User Agreement is the Sentrilock User Agreement.           

            G. Person means an individual or entity.

 

II. Policies:

            The policies governing the Lockbox and SentriCard® systems are as follows: Upon execution by the Cardholder of the Sentrilock User Agreement, the Holder agrees to all the terms and conditions of that Agreement. Violation of any of such terms and  conditions may constitute grounds for termination of the agreement and deactivation of SentriCard®, and/or imposition of fines and/or charges under provisions as stated in Section 9. The Association reserves the right to deactivate the SentriCard® upon any complaint of a violation or potential risk to the safety of the lockbox system at the sole discretion of the Board of Directors. In exercising this right the Board of Directors shall afford such due process as it deems in its discretion fair and feasible in light of the circumstances; and any period of deactivation prior to opportunity of the Cardholder for a hearing shall be kept to the minimum period of time deemed reasonably feasible by the Board of Directors in its discretion.

 

  1. Lockbox

The Association will sell Lockboxes to Holders.

a. The Association will maintain a separate inventory of boxes sold.

b. Receiver of the Lockbox will supply his/her Association with a copy of the “Bill of Sale” indicating the serial code of the Lockbox/Shackle Code for the Association’s files.

  1. License to Use

Upon execution of the “User Agreement” Holder will be granted a personal, revocable, nonexclusive and non-transferable license to use the SentriCard® and Lockbox in connection with the Holder’s normal and customary activities while acting as a real estate agent or appraiser on the terms and conditions set forth in the referenced SentriLock User Agreement. The User Agreement shall require the Holder to comply with these Rules and Regulations.

 

  1. Purpose
  1. Holder shall use the SentriCard® only for the purposes of gaining authorized entry into real property on which a system Lockbox has been installed pursuant to an agreement with the owner(s) of such real property. Use of a SentriCard® to gain entry to a property for any purpose other than the exercise of authority or responsibility derived from the agency, subagency, or other legally recognized brokerage relationship granted by the owner in the listing agreement or offer of cooperation by the Agent, or from an appraisal relationship with the owner or contract buyer, is specifically forbidden.
  2. Utilization of information derived from viewing properties shall not be used or conveyed to anyone for any purpose other than to facilitate the sale or lease of real property.

 

  1. Revocation/Refusal of License

Holder’s license to use the SentriCard® for entry into the system shall be revoked or refused immediately upon the happening of any one or more of the following events:

  1. Termination of Holder's affiliation with an eligible DR. 
  2. Failure of Holder to comply with any of the terms and conditions set forth herein, including but not limited to, the provisions for security in paragraph 5 below, or the provisions of the SentriLock User Agreement or his/her Association’s Bylaws, Rules and Regulations, and policies.
  3. The Association may refuse to sell Lockboxes or SentriCards®, and may refuse to activate or reactivate any SentriCard® held by an individual convicted of a felony or misdemeanor if the crime, at the sole determination of the Association’s Board of Directors, relates to the real estate business or poses a potential risk to clients, customers, or other real estate professionals.
  4. The Association may suspend the right of a Holder to use a SentriCard® following his/her arrest and prior to his/her conviction for any felony or misdemeanor which, in the sole determination of the Association’s Board of Directors relates to the real estate business or which poses a potential risk to clients, customers, or other real estate professionals. In exercising this right the Board of Directors shall afford such due process as it deems in its discretion fair and feasible in light of the circumstances; and any period of suspension prior to an opportunity for a hearing on the issue of whether Cardholder engaged in the conduct for which Cardholder was arrested and if so whether that conduct relates to the real estate business or poses a potential risk to clients, customers or other real estate professionals, shall be kept to the minimum period of time deemed reasonably feasible by the Board of Directors in its discretion.
  5. Factors that can be considered in making such determinations with respect to (c) and (d) above include, but are not limited to:
  6. the nature and seriousness of the crime
  7. the relationship of the crime to the purposes for limiting lockbox access
  8. the extent to which access (or continued access) might afford opportunities to engage in similar criminal activity
  9. the extent and nature of any prior convictions
  10. time since criminal activity was engaged in
  11. evidence of rehabilitation while incarcerated or following release and
  12. evidence of present fitness to hold a SentriCard®.

 

  1. Security of SentriCard® and Property Key

Upon execution of the SentriLock User Agreement, Holder acknowledges that it is necessary to maintain security of the SentriCard®and the property key to prevent his/her use by unauthorized persons. Upon execution of the SentriLock User Agreement, Holder agrees:

  1. To keep the SentriCard® in Holder’s possession or in a safe place at all times;
  2. Not to allow Holder’s PIN to be attached to the SentriCard®;
  3. Not to disclose Holder's PIN to any third party;
  4. Not to lend the SentriCard® to any person, or to permit the SentriCard® to be used by any person, for any purpose whatsoever, other than actions which are administrative in nature;
  5. Not to lend the property key to any person, for any purpose whatsoever, or to permit the property key to be used for any purpose by any other person.
  6. Not to use another Holder’s SentriCard® for purposes other than administrative in  nature;
  7. Not to duplicate the SentriCard® or the property key or allow any other person to do so;
  8. Not to assign, transfer or pledge the SentriCard® or any other rights thereto, except as noted in Paragraph 16.
  9. Not to allow anyone who has been admitted to the property by Holder, to remain in the property after the Holder has left the property without the consent of the property owners.
  10. To return the property key(s) to the Lockbox when leaving the property. 
  11. Prior to leaving the property, close and lock any windows or doors opened or unlocked by the Holder or by anyone admitted by the Holder.
  12. In the event there is more than one Lockbox on the property, ensure that the proper property key is returned to the proper box.
  13. One Day Showing Codes, if applicable: These codes are to be disclosed or given ONLY to an agent, a broker or inspector or contractor. Before issuing a code to an agent or broker you must:
    1. ​Obtain the agent’s name, phone number and company name and number
    2. Confirm that the agent is in fact a licensed agent with the company before leaving the code in the agent’s mailbox or with his/her office. You can do this by contacting DPOR.
    3. You are hereby advised not to leave a code if you are unable to verify the agent’s status.
  14. One Day Showing Codes for contractors: These codes are intended to offer convenience to Users, however, a User should, when possible, be present when non-SentriCard® Holder contractors access the property. These codes are to be disclosed or given ONLY to a contractor after written approval from the seller. Before issuing a code to a contractor you must: 
    1. Ensure that it is only to be used for work activities such as home inspections; radon testing (including drop-off and pick-up of radon equipment); termite inspections; repairmen in vacant properties, and appraisers without a SentriCard®.
    2. In the event the property is occupied you must coordinate with the owner or the tenant in advance.
    3. Ensure that the contractor you are providing the code for is one that you know and are familiar with and has been approved by the seller.
    4. In the event a cooperating agent is a non-SentriCard holder and requests access to the property for a contractor pursuant to the contract, the cooperating agent must obtain permission from the Seller. 
  15. SentriSmart™ Mobile App: The SentriSmart™ Mobile App generates access codes. Such access codes can only be used by Holder in accordance with the rules applicable to the use by Holder of a SentriCard® and for purposes otherwise permitted under these rules.
  16. To follow all additional security procedures as specified by the Association, from time to time amended. 
     

     6. Lost or Stolen SentriCard®

  1. In the event a SentriCard® is lost, stolen, or otherwise unaccounted for, Holder shall notify the Association within forty-eight (48) hours, by telephone and in writing. The Holder shall promptly report any such theft to the appropriate law enforcement agency.
  2. If the SentriCard® is lost or stolen, the Holder agrees that the SentriCard® will immediately be deactivated by the Association.

 

  1. Failure to Comply and Violation

Any failure to comply with any of the terms herein or of the User Agreement or the Bylaws, Rules and Regulations and polices of the Association shall constitute an event of default.

  1. Upon the occurrence of any such event of default, the User Agreement may be terminated in accordance with these Rules and Regulations by the association party to such User Agreement.
  2. Holder shall be subject to loss of access to the system, fines, and other penalties as determined by the Bylaws, rules and regulations, and policies of his/her Association.
  3. If the alleged default is an alleged violation of the Security Provisions contained in II (5) of these Rules and Regulations it will be processed according to the ethics enforcement procedures of the NAR Code of Ethics and Arbitration Manual. The complaint will be reviewed by the Holder’s association’s Grievance Committee and either dismissed or forwarded to Professional Standards for a Hearing.
  4. If a violation of these Rules and Regulations is determined by a Hearing Panel, sanctions are imposed as listed in II(8) of these Rules and Regulations.
  5. If the alleged default involves an alleged violation of the Code of Ethics and Standards of Practice of the National Association of REALTORS® the sanctions for any ethics violations will be determined by a Hearing Panel of the Association in accordance with the procedures of the NAR Code of Ethics and Arbitration Manual.
  6. Failure to comply with all SentriCard® procedures may result in the deactivation of SentriCard®. The Association will not be obligated to re-activate SentriCards® unless and until holder again becomes authorized to utilize the System.
  7. Failure to pay appropriate Association dues and fees will result in deactivation of SentriCard®. A reactivation fee will be charged.

 

  1. Fines and Penalties

In the event a complaint is forwarded to a Professional Standards Hearing and the Hearing Panel determines that a member is in violation of any Article of these Rules and Regulations, the following sanctions may be imposed against the member.

  1. First Offense: The Holder will be assessed a fine of no more than $100 per offense. If the fine is not paid within three (3) days after the receipt of the final action, the Association will de-activate the Holder’s SentriCard® until the fine is received by the Association. Upon receipt of the fine, the Association will re-activate the Holder’s SentriCard.
  2. Second Offense: The Holder will be assessed a fine of no more than $500 and will receive a 30-day deactivation of his/her SentriCard® privileges. If after 30 days following the deactivation date of the SentriCard®, the Holder has not paid the fine, the SentriCard® will remain deactivated until the fine is paid.
  3. Third Offense: The Association shall permanently terminate SentriCard® system subscription.

 

  1. Designated REALTORS® and Holder’s Responsibilities

For as long as Holder shall have an activated SentriCard®, the Designated REALTOR® shall maintain supervisory authority over Holder. Holder shall be actively engaged in the real estate profession as defined by the National Association of REALTORS®.

  1. Designated REALTOR® and Holder shall maintain current Virginia real estate licenses or appraiser’s licenses in the jurisdiction where they are using the Lockbox and SentriCard® systems.
  2. By executing the User Agreement, Holder agrees that Holders are liable for all duties, responsibilities, and obligations consistent with use of the SentriCard®.
  3. Holder shall promptly notify his/her Association should they cease to hold a valid license.
  4. Holder must comply with all these Rules and Regulations.
  5. Holder must keep his/her Association advised in writing of the current address at all times. Address changes must be reported to his/her Association within forty-eight (48) hours.
  6. In the event Holder transfers his or her primary membership to another Association, Holder must request a transfer of his or her SentriCard® within ninety (90) days of the date of transfer.
  7. Holder must attend an instructional training program on the operation and use of the SentriCard® and Lockbox at the Association.

 

  1. Authorization

Prior to installing or using the Lockbox on any property, the holder shall secure written authorization from the owner of such property.

  1. Holder shall be obligated to supply his/her Association with a copy of the written authorization from the owner, should such be requested by the Association.
  2. Holders shall include in a listing agreement or some other agreement signed by the owners of such property prior to installation and use of this system a provision whereby the owners acknowledges the risk of using the system and releases the Association from any and all liability in connection with the system.

 

  1. Costs and Fees
  1. The Association shall assess an annual fee to be charged to each Holder (“User Fee”) each year. The Association shall develop and maintain its own fee schedule. The Association also shall develop and maintain a price schedule for new and used products.
  2. Holder, by executing the “User Agreement,” agrees to pay the annual fee.
  3. If Holder has not paid the annual fee by the due date, the Association may assess a late penalty and/or reactivation fee, and de-activate Holder’s SentriCard®until the fees and late penalty are paid in full.
  4. The User Fee shall be reviewed annually and adjustment made as necessary.

 

  1. Repurchase/Resale of Lockboxes

Lockboxes may be sold or transferred between Cardholders, subject to Section 9 (f) above.

 

  1. Holder’s Termination of the User Agreement

Upon written notice to his/her Association, Holder may terminate the User Agreement at any time. Reporting of a SentriCard® lost, stolen, or otherwise unaccounted for shall not be construed as Notice of Termination.

 

  1. Proper Use of Sentrilock System
  1. SentriCards®and Lockboxes may be used on properties listed with Designated REALTORS® in the New River Valley Association of REALTORS® area, and must be used on the property when so indicated on the published listing.
  2. Lockboxes that have been programmed for CBS (Call Before Showing) should be so indicated in the computer. In no case shall CBS codes be published or distributed. CBS codes are confidential and should only be provided on a case by case basis according to the needs of the specific transaction.
  3. Lockboxes that have been programmed for restricted hours should be so indicated in one of the remarks sections of the MLS.
  4. One Day Showing Codes, if applicable: The use of one day showing codes are governed by Paragraph (II)(5)(m) herein.
  5. When leaving a property it is the responsibility of the Holder to ensure that the property key is replaced in the lockbox and that the lockbox is properly closed. If a lockbox is found not properly closed, the Holder should contact the Listing Broker immediately. The listing Broker/Agent should read the lockbox. The last person found to have entered the property (provided this was not the agent to report the violation) will be held responsible.
  6. Care should be taken when entering a property by use of a SentriCard®. The property should be left in the same condition in which it was found. It is common courtesy for an agent (even when previewing) to leave a business card in the property. Should an agent find a property left in an unsatisfactory condition it should be reported to the Listing Broker immediately.
  7. Lockboxes shall be removed within 48 hours of settlement.

 

  1. Allocation of SentriCards®:

The Association will not issue more than one SentriCard® per Holder.

 

 

  1. Various Fees

The Association reserves the right to invoke a variety of fees and/or price schedule and may, at their respective discretion, alter these fees and prices as the Association sees fit.

      Hardware Costs: Lockbox and SentriCards®

      Maintenance Fees: Annual maintenance Fees for SentriCards®

      Warranty Fees: For Lockboxes and SentriCards®

      Administrative Fees: For lost/stolen SentriCards®, return of replacement SentriCard®

      Late Fees: For late payment of any of the above fees

      Reactivation Fee: For reactivating a terminated SentriCard®

 

  1. Miscellaneous

If any provision of the SentriLock User Agreement or these Rules and Regulations shall be held to be invalid, illegal, or unenforceable, such holdings shall not affect the validity, legality or enforceability of the remaining provisions.