How to Properly Deal with Competing Offers

November 24, 2016

How to Properly Deal with Competing Offers

A competing offer situation, when a seller receives more than one written offer on a property, creates unique circumstances for consumers and it is important for both buyers and sellers to understand how they can handle these situation.

What do we mean when we say something is required 'in writing'?

November 16, 2016

What do we mean when we say something is required 'in writing'?

The Commission talks a lot about ensuring you have items in writing. While the term may seem straight forward, there are some important rules to remember.

We require all real estate agreements facilitated through licensees, including amendments, to be in writing. This application of “in writing” necessitates written terms and bona fide signatures of all parties. This includes agreements between consumers and agreements between consumers and brokerages.  

New Policy for 'Coming Soon' Advertisments

October 28, 2016

New Policy for 'Coming Soon' Advertisments

The use of ‘Coming Soon’ advertisements by licensees for properties pending placement on the MLS system has noticeably increased over the past few months.

The next time you take to Instagram or Facebook to highlight an anticipated future listing, take a moment to ensure what you are displaying meets the Commission’s Board of Director’s recently approved policy setting minimum standards for ‘Coming Soon’ advertising.

Trust Deposits and Disbursements

October 26, 2016

Trust Deposits and Disbursements

The Real Estate Trading Act requires every brokerage in the province to maintain an interest-bearing trust account where all money received by consumers is held. The broker of the brokerage is responsible for maintaining their trust account, and as a consumer protection mechanism, the Commission inspects each brokerage’s trust account record keeping annually.  

The Nova Scotia Real Estate
Commission
is the regulator of the
Nova Scotia real estate industry.

Contact Us

Nova Scotia Real Estate Commission

601-1595 Bedford Highway
Bedford, NS
B4A 3Y4

p: 1.902.468.3511 or
1.800.390.1015

f:  1.902.468.1016 or
1.800.390.1016

e: For licensing information
licensing@nsrec.ns.ca
For complaints
compliance@nsrec.ns.ca