Compliance.

Last Updated: December 12, 2024

At RealPact, we understand that compliance is critical for real estate professionals. Our platform is designed to help you meet regulatory obligations while providing the security and auditability required for real estate transactions. This page outlines our compliance measures and how we help your brokerage maintain compliance with real estate laws and regulations.

1. Real Estate Industry Compliance

RealPact is built specifically for the real estate industry's unique compliance requirements:

• State Real Estate Laws: Our platform supports compliance with varying state real estate regulations, including required disclosures, contract forms, and documentation requirements. We maintain templates that meet state-specific requirements and update them as laws change.
• Fair Housing Compliance: RealPact helps ensure fair housing compliance by standardizing processes and maintaining complete audit trails of all transactions, demonstrating equal treatment of all parties.
• RESPA Compliance: Our platform helps you comply with the Real Estate Settlement Procedures Act (RESPA) by maintaining proper documentation and ensuring transparency in real estate transactions.
• MLS Rules and Regulations: RealPact ensures compliance with MLS data usage rules, including proper display requirements, copyright notices, and data refresh requirements. We work directly with MLS organizations to maintain proper vendor status.
• Brokerage Compliance: Our customizable templates allow brokerages to enforce their specific compliance requirements and maintain consistency across all agents' transactions.

2. E-Signature Compliance

RealPact's electronic signature capabilities comply with all major e-signature laws, ensuring your real estate contracts are legally binding:

• ESIGN Act (United States): Our platform fully complies with the Electronic Signatures in Global and National Commerce Act, ensuring the legal validity of electronically signed real estate contracts.
• UETA (United States): RealPact adheres to the Uniform Electronic Transactions Act, adopted by 47 states, providing uniform rules for electronic real estate transactions.
• State-Specific Requirements: We maintain awareness of state-specific requirements for real estate e-signatures, including any special witnessing or notarization requirements.
• Audit Trail Compliance: Every signature event is recorded with comprehensive audit trails including signer identity, timestamps, IP addresses, and all document interactions, meeting legal requirements for enforceability.

3. Data Protection Compliance

We take data protection seriously, especially given the sensitive nature of real estate transactions:

• GDPR (European Union): For international clients, RealPact is designed to help meet GDPR requirements when processing personal data in real estate transactions.
• CCPA/CPRA (California): We comply with California privacy laws, respecting data subject rights and providing transparency about data processing.
• Client Privacy: We implement strict controls to ensure that client personal information (including financial data, SSNs, and other sensitive information) is protected and only accessible to authorized parties.
• Data Retention Policies: We maintain data retention policies that comply with state real estate record-keeping requirements (typically 3-7 years) while respecting privacy rights.

4. Security Certifications & Standards

SignPact, Inc. is committed to achieving industry-standard security certifications appropriate for handling real estate transaction data:

• SOC 2 Compliance: We are working toward SOC 2 Type II certification, implementing controls for security, availability, processing integrity, confidentiality, and privacy of real estate data.
• Bank-Level Security: We implement bank-level encryption and security measures to protect sensitive transaction data and client information.
• Regular Security Audits: We conduct regular security assessments and penetration testing to ensure our platform remains secure against evolving threats.

5. Transaction Security & Fraud Prevention

RealPact implements multiple layers of security to prevent fraud and protect real estate transactions:

• Identity Verification: Multi-factor authentication for agent accounts and verification processes for transaction participants.
• Wire Fraud Prevention: Secure communication channels and verification protocols to prevent wire fraud, a growing concern in real estate transactions.
• Document Integrity: Tamper-evident seals and cryptographic verification ensure that signed documents cannot be altered after execution.
• Access Controls: Role-based permissions ensure that only authorized parties can view or modify transaction documents.
• Suspicious Activity Monitoring: AI-powered monitoring to detect and alert on unusual patterns that might indicate fraud attempts.

6. MLS Integration Compliance

Our MLS integrations maintain strict compliance with MLS rules and regulations:

• Authorized Vendor Status: We maintain proper vendor agreements with MLS organizations, ensuring legitimate access to listing data.
• Data Display Compliance: All MLS data is displayed according to specific MLS rules, including required disclaimers and attribution.
• Data Refresh Requirements: We comply with MLS data freshness requirements, ensuring that property information is current and accurate.
• Usage Restrictions: We enforce MLS rules regarding data usage, ensuring that listing data is only used for legitimate real estate purposes.

7. Compliance Features for Your Brokerage

RealPact offers several features to help your brokerage maintain compliance:

• Comprehensive Audit Trails: Every action—from contract creation to signature—is logged with timestamps, user information, and IP addresses, providing complete transaction history for compliance reviews.
• Template Management: Centralized control over contract templates ensures all agents use compliant, up-to-date forms approved by your brokerage.
• Automated Compliance Checks: AI-powered review identifies missing required fields, disclosures, or documentation before contracts are sent.
• Record Retention: Automatic retention of all transaction documents for the period required by state law, with secure storage and easy retrieval.
• Compliance Reporting: Generate reports for regulatory audits, brokerage reviews, or legal proceedings with complete transaction documentation.
• Agent Activity Monitoring: Track agent compliance with brokerage policies and identify training needs through usage analytics.

8. Training and Support

We help ensure your team uses RealPact in a compliant manner:

• Onboarding Training: Comprehensive training for brokerages on compliance features and best practices.
• Compliance Documentation: Detailed documentation on how RealPact helps meet various compliance requirements.
• Regular Updates: Proactive communication about regulatory changes and platform updates to maintain compliance.
• Dedicated Support: Enterprise customers receive dedicated support for compliance-related questions and requirements.