PRIVACY AND USE OF PERSONAL INFORMATION: REALTORS® recognize and respect the privacy expectations of today’s consumers and the requirements imposed by law. Your informed consent is required for the collection, use and retention of personal information. Making you aware of how your personal information will be used, to whom it will be disclosed and how long it will be stored forms one of the bases of a relationship of trust between you and your REALTOR®.
MLS® or exclusive listing?: In Nova Scotia, if you choose to sell your property through a REALTOR®, you may elect to have your property listed on the Multiple Listing Service® (MLS®) maintained by the Nova Scotia Association of REALTORS® (NSAR), or to sell the property through an exclusive listing without the use of MLS®. In either case, the same personal information must be collected. The difference is the manner in which that information will be used or disclosed.
The MLS® System: While it is maintained and operated on behalf of REALTORS®, an MLS® system is relied on by many parties including lenders, property appraisers and consumers. The system allows parties access to information regarding the listing, marketing and sale of properties. Access to this information is essential in order to determine the value of properties which, in turn, is key to ensuring that the real estate market is stable, and that is in the best interest of consumers, lenders and the general public.
Use and disclosure of the information which we collect: We are required by federal law to collect information which confirms the identity of both Buyers and Sellers. In addition, to assist in the marketing and sale of a property, we must collect information which includes the asking price, the price for which the property sells, the duration of the listing, photos of interior and exterior of the property, and information relating to the assessment of the property. Your REALTOR® must disclose the information collected to his or her Broker. If the property is listed on the MLS® system, the Broker will, in turn, disclose it to NSAR so it can be included on the MLS® system.
Both the listing and selling REALTORS® and their respective brokerages will disclose the information to other brokerages, potential purchasers and interested parties during the course of marketing the property for sale, as well as through the sales process. In addition, all or some of it will be disclosed to government departments, appraisers, municipal organizations and others. Some of the information will be compiled in statistics for use in Comparative Market Analyses by appraisers and brokers, as well as by consumers. Comparative Market Analyses are used to assess the values of properties, relying on information about similar properties in the same area with adjustments for differences in property features. The information relied on includes that available through public records and that relating to properties listed and sold.
Whether a listing is MLS® or exclusive, all or some of the information may be published in print, and made available on the internet through the website maintained by or for the listing and selling REALTORS® and Brokerages. If the property is listed on MLS®, interested parties will be able to access all or some of the information through the internet.
Retention of Information: The information collected by each REALTOR® may be retained by his or her brokerage for up to seven years from the date of the expiration of the listing or sale of your property. In addition, NSAR or AVREB maintains the information distributed through the MLS® system for a period of up to seven years. This helps to ensure the accuracy and usefulness of the MLS® system by allowing access to historical information. The information is also made available on the internet through websites associated with NSAR.
Concerns: If you have any questions about your personal information, please contact the Executive Officer of the Nova Scotia Association of REALTORS®. 7 Scarfe Court, Suite 100, Dartmouth, Nova Scotia B3B 1W4.