Starting January 1, 2017, the Nova Scotia Real Estate Commission will require all brokerages to sign a brokerage agreement with buyers who agree to be clients of their brokerage. This move is aimed at enhancing consumer protection by improving transparency between the brokerage and buyer by clearly outlining expectations at the time they agree to work together.
February 22, 2017
Occasionally, there are cases where the deposit provided by the buyer is greater than the real estate remuneration (i.e. commission fee) to be paid. In these cases, before the excess deposit funds are refunded to the seller's lawyer, all parties must agree in writing to do so.
Deposits are kept ‘in trust’, meaning in either the brokerage’s or the lawyer’s trust account. These funds are heavily regulated to keep funds in them safe.
February 16, 2017
The Commission invites interested licensees to nominate themselves to fill one three-year term with the Commission’s Board of Directors.
February 13, 2017
Your real estate licence authorizes you to trade in real estate in Nova Scotia as it is defined in the Real Estate Trading Act.
Simply put, trading in real estate is acting on behalf of a consumer to buy or sell real property, which includes land and any dwellings attached to or included with the land, such as houses, apartment buildings, condominiums, commercial space and mobile homes. Trading also includes commercial leasing and commercial property management.
February 7, 2017
When a consumer completes a brokerage agreement, service contract or purchase agreement with software to secure an electronic signature, and the signature field includes a date stamp, there is no requirement to fill in the ‘Dated’ line in the final section of the form.
For example, a signature provided by dotloop identifies the date and time the signature was placed on the form, as seen below.