What is the status of Dual Agency practice in Nova Scotia?

In Nova Scotia, dual agency refers to a situation where a real estate licensee represents both the buyer and the seller in the same transaction. The status of dual agency in the province is highly regulated. This means that while it is not illegal, there are specific guidelines and regulations that govern how dual agency can be practiced to protect the interests of all parties involved.

The correct status is not that dual agency is "not practised" at all. In fact, agents must follow strict protocols when operating in a dual agency situation, ensuring transparency, consent, and full disclosure to both parties. This regulation is crucial because it addresses potential conflicts of interest and ensures that clients are adequately informed and protected.

Understanding the regulatory framework surrounding dual agency is essential for real estate professionals in Nova Scotia, as it helps to maintain ethical standards and fosters trust in the real estate transaction process.