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Questions from Offices Interested in Switching to Instanet Forms

1. Q: How does the AuthentiSign product verify the identity of the e-signer?

A: The agent controls who is authorized to sign a document when they enter the signing participants and each participant’s email address through the setup of the signing. The agent can also determine who signs first, second, etc. Each participant, or e-signer, will then receive an invitation to sign via email. The email will require that person to read/accept the terms of service and to create a password to access the form to be signed. Once the participant clicks on the required signature blocks, their computer’s IP information will be recorded.

The agent can set an expiration date for the signing, if desired.

Authentisign is e-sign compliant and also FHA approved.

 

2. Q: What is the online retention period for forms, transactions, etc.?

A: With Instanet, you will receive unlimited, online storage. The information is stored for a period of 7 years, the amount of time legally required in Michigan. You can also export and save the transactions and documents anytime. It’s simple to save the transactions to an external drive.

 

3. Q: Is there an initial cost to convert our office-created Word forms for use in the program? Is there a cost to revise forms in our office library?

A: Instanet charges a fee of $50 per page (for forms that are provided to Instanet in an electronic format) to add new office forms and to revise forms.

 

4. Q: Can the Broker or their designate approve/reject forms as part of a transaction?

A: Many offices have set-up what we call a Quick-Start Group. The office will create a specific group of forms to use and name that particular group of forms. The office can then force this Quick-Start Group to be available for each transaction the agent creates. The office can even control which Quick-Start Group is created based on the applicable type of transaction. For example, if a Listing Agent created a transaction for a Residential listing, the Quick-Start Group that appears is specific to that particular type of transaction.

The Quick-Start Groups created can include forms you designate. The forms can be from your office folder as well as forms available from other folders, including those from the Board/Association and/or the Michigan Association of REALTORS®.

 

5. Q: Is there a limit on the number of office-created forms that may be included?

A: No. You can have as many forms added to your office folder as you need. You also have access to the Realcomp profile and status change forms, the MAR forms and forms from all of our Shareholder Boards & Associations.

 

6. Q: Is there a restriction on the types of forms that can be included in an office library?

A: There aren’t any restrictions. If you have any specific concerns on whether or not something can be programmed, please feel free to let us know and we’ll be happy to investigate this further.

 

7. Q: What is the usual turn-around time for creating and adding to an office’s library of new forms? How about for revised forms?

A: Typically, the turnaround time for forms to be added is 5-7 days. If there are a large number of forms to add, this may take longer. When it comes time to add your office forms, we would be happy to look into the turn-around time to make sure you know what to expect.

 

8. Q: If an agent leaves our office, do they still have the ability to access previously completed forms/transactions?

A: When an agent leaves an office, their transactions and all attached forms within that transaction will be transferred to the broker of the office and the super user. With the broker’s signed authorization, the transactions along with the associated forms, could be transferred to that agent at their new office. The broker can always export and back-up those transactions before authorizing them to be transferred with the agent.

Note: the super user is someone the broker has authorized to access all transactions within the office, if requested.

 

9. Q: How long may the broker or their designate access forms/transactions of an agent once that agent leaves that broker’s office?

A: Once the agent becomes inactive, these transactions will automatically appear in the broker’s account. They will remain there for as long as they are required to be stored. The exception is if the broker authorizes the transactions to be transferred to the agent at their new office

 

10. Q: Does the product family prevent previous versions of a form – including those in a transaction – from being used, but still retained for historical purposes?

A: An older version of a form could be renamed to indicate that it’s out of date.

 

11. Q: Do you have any other information that would be helpful to me in making the decision to move to Instanet forms?

A: With Transaction Desk and the online forms, your agents can complete the Realcomp profile forms online. These forms will be saved as part of the transaction and with the click of a button, the listing will be added to Realcomp Online and assigned an MLS #.

Also, transactions and forms can be started from Public Records. When a transaction is created from PRD, the address information will pre-load. This saves time for your agents because they will not need to type as much information. It also helps prevent typos.

As documents are added to a transaction, agents can select which documents they would like to attach to the listing. Only those documents will then be visible to other Realcomp Online users.

 

Realcomp offers a class on Transaction Desk and would be happy to have you join us for this. Our trainers are experts with Transaction Management and you might find it helpful to see and experience this in a hands-on environment.

 

Last modified:  Tuesday, October 01, 2013  

 

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