A lockbox includes a housing, a key storage area and a lockbox circuit. The key storage area is shaped to receive a stored key and is attached to or positioned within the housing. The key storage area is secured with a lock mechanism to prevent unauthorized access to the stored key. The lockbox circuit comprises a transceiver operable by a magnetically induced current generated by a closely positioned radio access device that can send and receive signals. The circuit is configured to unlock the key storage area upon determining that an access request is authorized to providing access to the stored key. Methods of operation are also disclosed.