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Lee JacksonLee Jackson 

I would like to create a custom button that users could press to indicate that they are working on a record, notifying other users not to make edits.

Been reading a lot about Salesforce not being able to lock records. I think this would be the best workaround for my particle company. 
NagendraNagendra (Salesforce Developers) 
Hi Lee,

Sorry for this issue you are facing.

Unfortunately, this is not possible as of now. 

There's an idea on the success community for which you can upvote so that it may be available in the mere future.

You can find the idea at the below link. Hope this helps.

Kindly mark this as solved if the reply was helpful.

Thanks,
Nagendra
Lee JacksonLee Jackson
Sorry, it was my understanding that a workaround was possible using some custom code. Its help with that code I am seeking.