Canadian Real Estate Glossary - The Realtor Jargon Explained! Jargon in the real estate industry…
Updated March 27, 2023
The Privacy and Consent Document for real estate in BC was introduced as part of the June 2018 changes to the the Real Estate Services Act. This document replaces sections of the Working with a Realtor used previously by the BC real estate industry.
We take Your Privacy and Consent Seriously
I take my own privacy and that of my family very seriously as I do with the privacy of my clients.
When we represent Buyers or Sellers we are required to have all of our Privacy and Consent Documents. Any information we ask for is only to serve the client in the real estate transaction and nothing further. We do not share this information with anyone aside from those mentioned in the situations below.
More Information on the BC Privacy and Consent Document
When you sell, buy, or lease real estate, it is necessary for Realtors, brokerages, and real estate boards to collect, use, and disclose some of your personal information in the course of their work on your behalf. Before doing so, your agent must provide you with a privacy notice that explains their information handling practices. They must also obtain your written consent for the use and disclosure of your personal information.
Why is my personal information collected, used, and disclosed?
Your personal information may be collected, used, and disclosed for any of the following purposes:
- To allow members of real estate boards to appraise your property.
- To list/market your property on the Multiple Listing Service (MLS) system.
- To market your property through print and electronic media.
- To help you locate a suitable property to buy or lease.
- To facilitate the real estate transaction by government departments and agencies).
- To allow the boards and their members to compile statistics on sales, property prices, and lease rates and to conduct comparative market analyses. Information about your property will be retained in the MLS system indefinitely.
- To enforce codes of professional conduct and ethics for Realtors by co-operating with real estate boards and regulatory bodies.
- To comply with legal requirements and to act pursuant to legal authorizations.
How is my personal information collected?
Your Realtor will collect most of your personal information through the various documents you fill out or provide to them and in discussions with you.
Some information may be collected from secondary sources, such as financial institutions, government departments, and mortgage brokers.
To whom may my personal information be disclosed?
When you buy, sell, or lease real estate in British Columbia, your personal information may be disclosed or available to:
- real estate boards, their staff, and members
- government departments and agencies
- financial institutions
- legal advisors and other service providers
- the British Columbia Real Estate Association
- the Real Estate Council of British Columbia
- the Canadian Real Estate Association
- members of the public
Not all of your information will be accessible by all of these entities all of the time.
Will my personal information be collected, used, and disclosed for any other purposes?
Your personal information may also be collected, used, and disclosed if you wish to have:
- your Realtor contact you in the future about additional real estate services.
- your Realtor inform you about other products or services that may interest you.
- other Realtors communicate with you to determine whether you require additional real estate services.
- boards, Realtors, or survey firms contact you to participate in surveys.
You should inform your Realtor or their board’s privacy officer if you do not wish to have your personal information collected, used, and disclosed for these additional optional purposes.
The real estate boards of which the brokerage and the Realtor are members.
The real estate company where your Realtor is licensed.
Multiple Listing Service (MLS)
A computerized database of real estate listings and sales operated by the boards in conjunction with The Canadian Real Estate Association.
Any identifiable information about you, including your name, address, phone number, and financial information. This may include information about your property, such as listing and selling price, lease rate, listing term, etc.
A member of a real estate board.
Is this not the right page you are looking for in terms of privacy? The please see our Privacy & Data Collection Policy