Was called to a real estate agents listing to gain entry, due to a supposedly faulty lock and this is what I found. (I apologise for the sideways video - still getting used to the camera)
I walked up to the door and found this exact scenario. A brand new Schlage Securekey deadbolt installed. The agent indicated that their key (inside the box) was not working. They needed entry and repair/replace.
Having seen the same entry technique used on Kwikset Smartkey locks, I thought I'd try the same technique.
Lo and behold!
Of course I replace the lock with a better quality lock (which by the way was considerably more competitively priced).
We dissected the faulty product to determine what failed. In this case, it appears that the correct key was withdrawn upside down, causing the internal parts to dislodge. The core is composed of pot metal combined with plastic. One of the two sidebars was worn out. I suggest this lock was no more than 2 weeks old.
Significant interest has been generated by this post recently. I should point out, that it could be that this particular product might have been faulty and might not necessarily be an across the board indictment against all the Schlage Securekey hardware line. I have heard recently of similar problems experienced by other users, but I cannot verify the accuracy of those comments.
I am receiving a significant quantity of hits here searching for master keying availability of Schlage Securekey products. Schlage Securekey products CANNOT be master keyed. It is physically impossible to key the locks to more than one different key.