What is considered confidential information in real estate?

9:3891(6)(a) as information obtained by a real estate agent from a client during the term of a brokerage agreement that was made confidential by the written request or written instruction of the client or is information the disclosure of which could materially harm the position of the client.

What is legally confidential information?

Confidential information is personal information shared with only a few people for a designated purpose. The person who is receiving the information from you, the receiver, generally cannot take advantage and use your information for their personal gain, such as giving the information out to unauthorized third parties.

What is privacy and confidentiality in real estate?

Private sector provisions in the Privacy Act 1988 regulate the way many private sector organisations, including the real estate industry, can collect, use, keep secure and disclose personal information. … Individuals can also make a complaint if they think information about them is not being handled properly.

What is not considered confidential information?

Non-Confidential Information is defined in Section 10.11. … Non-Confidential Information means information generally available to the public, previously known or in the possession of the other party or which becomes available prior to any disclosure or use thereof from some other source not restricted as to disclosure.

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What is considered confidential information in business?

(1) Confidential business information is information which concerns or relates to the trade secrets, processes, operations, style of works, or apparatus, or to the production, sales, shipments, purchases, transfers, identification of customers, inventories, or amount or source of any income, profits, losses, or …

How do you identify confidential information?

Confidential Information disclosed hereunder shall be disclosed in written, electronic or other permanent form and shall be prominently identified as confidential using an appropriate legend, marking stamp, or other clear and conspicuous written identification which unambiguously indicates that the information being …

What does privacy mean in real estate?

Trust is at the heart of the real estate business. … A privacy policy is a document that discloses some or all of the ways your business collects,shares, protects, and destroys personal information.

What are the main categories of risk for a real estate agency?

Here are some common risks that real estate agents face, and how to protect against them:

  • Omission. Everything included in the sale of a home needs to be itemized so that all parties are on the same page with the same expectations. …
  • Failing to deliver service. …
  • Wrongful discrimination. …
  • Accidents.

Can a real estate agent give out personal information?

If an agent unlawfully discloses a client’s confidential information, they may be subject to disciplinary action by NSW Fair Trading. … In your case, if you did not consent to the release of your personal information and the agent was not required to disclose it by law, you can lodge a formal complaint against the agent.

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