It's that time of year! Do you have lockboxes under your couch, in the trunk of your car, or maybe the desk drawer? It's time to find them and bring them into GAAR for the Supra "True Up"!
What is "True Up"? Each September, GAAR begins a 30-day True Up period when we audit your accounts to determine how many lockboxes you are entitled to under the current Supra Policy.
This year's "True Up" dates will be September 3rd through October 4th.
To determine how many boxes you are authorized, GAAR evaluates the number of residential listings you have in Flexmls and adds 30% ie, if you have 10 active, pending or under-contract listings, you are entitled to 13 lockboxes. If you have 20 lockboxes in your possession, then you have 7 excess lockboxes that need to be returned.
This ensures that excess lockboxes return to circulation. You will receive an email during the coming week notifying you of the number of excess lockboxes you need to return (if any).
Return your boxes to the GAAR REALTOR® Building at any time.
Or drop off at a remote location if that is more convenient:
Taylor Ranch Community Center
4900 Kachina St NW | Albuquerque, NM 87120
Monday, September 16th from 9:00 am - 1:00 pm
Los Lunas Transportation Center
101 Courthouse Rd | Los Lunas, NM 87031
Tuesday, September 17th from 9:00 am - 12:00 pm
Frequently Q & A
Q. What happens if I don't return my "excess" lockboxes?
A. Under Supra Policy, you will be invoiced $100 (plus tax) for each excess lockbox not returned. Invoices will be emailed in October and are payable in accordance with GAAR's payment and collection policies.
Q. What if I'm using lockboxes on other property types?
A. Please call GAAR Supra Support at 505-842-1433, Option # 2 to discuss your options.
Q. When should I return lockboxes?
A. You can return your excess lockboxes any time before October 4th. If you are unable to return your lockboxes in person, then you can call GAAR Supra Support at 505-842-1433, Option # 2 to schedule a pick-up.