What is the Nova Scotia Real Estate Commission?
The Nova Scotia Real Estate Commission is an independent, non-government agency, responsible for the regulation of the real estate industry.
What is the purpose of the Real Estate Commission?
The Commission's mandate is to ensure consumer confidence in the real estate industry by establishing standards for applicants and real estate Industry Members, which promotes higher standards of professionalism, competence and integrity.
How does the commission ensure consumer confidence in the real estate industry?
By licensing real estate practitioners (Industry Members), enforcing certain standards of practice required by the Nova Scotia Real Estate Trading Act, and investigating and taking disciplinary action against Industry Members found in violation of the Act, the Bylaw, or the Policies and Procedures.
What is the composition of the commission?
The Commission is comprised of a voluntary Board of Directors (Commissioners), three volunteer committees and nine full-time staff members.
What are the basic responsibilities of the commission members?
The Commission is responsible for administration of the Real Estate Trading Act and is accountable for its conduct to consumers and Industry Members, and the provincial government. Specifically, it is responsible for:
- Administering and revising the Commission Bylaw, which defines the duties of Industry Members, Commissioners, and Commission staff, as well as the business and affairs of the Commission, including services provided and fees levied on Industry Members
- Setting the Policies and Procedures that govern Industry Members trading in real estate
- Setting the requirements for licensing Industry Members as real estate brokers and salespeople, including entry educational requirements, admission exams, and continuing education requirements
- Holding conduct hearings arising from complaints of improper conduct by Industry Members
- Administering the Real Estate Recovery Fund
- Appointing a Registrar, setting the philosophy, direction, and policies and for the Commission and its staff
- Submitting an Annual Report to the Minister responsible for the Act.
What is the difference between the Nova Scotia Real Estate Commission and the Nova Scotia Association of Realtors®?
The Commission is a self-governing regulatory body appointed by the provincial government to license and regulate the real estate industry in Nova Scotia. The Nova Scotia Association of REALTORS® (NSAR) is a professional association with voluntary membership that offers services to its members, like MLS® and Errors and Omissions insurance. Only Industry Members who belong to NSAR can call themselves REALTORS®.