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Ten actions taken by the OACIQ for public trust
">Real Estate Brokerage Act that governs its activities..../www.oaciq.com/en#trouver-courtier">Register of licence holders;
Updated mandatory
Regulatory amendments in residential and commercial real estate brokerage
contract - sale form....As a result, the authority to regulate the format, terms or conditions of use, mandatory or prohibited statements in brokerage forms was repealed....and forms was repealed.
What you need to know before buying a co-ownership property
’s professional duties and ethical obligations under the Real Estate Brokerage...of the Real Estate Brokerage Act, the OACIQ has custom-designed a number of forms suited to most situations....
Although the use of this form is not mandatory, it is strongly recommended.
Intergenerational homes: The protections offered by the Real Estate Brokerage Act
, the professionals authorized by the OACIQ are required to respect certain obligations set out in the Real Estate Brokerage Act....>He must also inquire about the state of the immovable with the seller and complete with him the Declarations by the seller of the immovable form...In this form, the seller must declare everything he knows about his property in good faith and to the best of his knowledge.
Sale of an undivided co-ownership property: Attention to the right of the other co-owners
In addition, you will be protected by the Real Estate Brokerage Act....In order to minimize the risks, he will ensure to obtain a waiver of this right from the other co-owners as soon as the brokerage contract is taken up....
Forms to better protect you
To protect you, the OACIQ created forms for these situations that must be used by brokers
Latent defect is a very unpleasant surprise for both the buyer and the seller!
, developed by the OACIQ under the Real Estate Brokerage Act, before putting the property up for sale....
The seller must complete the form in good faith and to the best of his knowledge....
Broker’s obligations
From the signing of the brokerage contract to the signing of the deed of sale, the broker has a duty
The Declarations by the seller form, for a transparent transaction
This form is a kind of a report card on a property and contains details on its construction and current condition....It is part of the broker's brokerage contract and must be given to any interested buyer and to the buyer's building inspector...." target="_blank">How to use the mandatory form Declarations by the seller of the immovable
The real estate broker’s right to compensation after the expiry of the brokerage contract
Indeed, clause 7.1.3. of different exclusive brokerage contract forms developed by the OACIQ provides that, even after the end date or termination...For example, in the form Exclusive brokerage contract – Sale – Chiefly residential immovable containing less than five dwellings excluding co-ownership...">Termination of a brokerage contract
Identifying and reporting illegal brokerage
Identifying and reporting illegal brokerage
Do you know what does “illegal practice” mean?...
Money laundering reporting form
If you believe you have witnessed an attempt of money laundering or recycling of...com=Xela17fFtoyUttmpq%2fPRo5yhZbS%2b0ysublTHL9XHDI4%3d">form so you can report it to us.
Certification examinations: Changes underway
Helvetica, Arial, sans-serif; font-weight: bold; color: rgb(80, 80, 80);">Certification exams: Changes underway
Digital commercial real estate brokerage...exam
Starting fall 2023, students who will be taking the commercial real estate brokerage exam for the first time will have...
How it works:
To register for the digital commercial real estate brokerage exam, follow the procedure in
Adverse factors
This form is a mandatory annex that is part and parcel of brokerage contracts....The licensee must complete the form jointly with the owner and have him sign it when signing the mandatory exclusive or non-exclusive brokerage contract...to the same thing), the licensee simply cannot enter into a brokerage contract with this client.
Importance of an up-to-date certificate of location
As required by the real estate brokerage forms, the seller must provide his broker with a certificate of location describing the current state...
If your certificate of location dates back more than ten years, your broker will inform you, once the brokerage contract is signed, of the need...
Fees
As mentioned in the real estate brokerage forms, the obligation to provide a certificate of location describing the current
Real estate agency licence
In case of a legal person, its shareholder or administrator is not required to hold a real estate brokerage licence....It also serves to confirm that the agency’s brokers and executive officer did not engage in brokerage transactions during the suspension period....It also serves to confirm that the agency’s brokers and executive officer did not engage in brokerage transaction during the suspension period.
The deposit on a promise to lease in residential and commercial real estate
It is important to comply with the deposit clause included on the mandatory Promise to lease – Residential form....This clause is similar to the one found on the mandatory Promise to purchase form....
All real estate brokerage contracts, in whichever form, must clearly specify the way in which the agency or the broker acting on his own account
Natural disasters: Impacts on the Promise to purchase
">Declarations by the seller of the immovable form accordingly and will contact the buyer to find out if he still wants to buy....nbsp;
By dealing with a broker in a real estate transaction, you are protected by the Real Estate Brokerage...
To conclude, as a regulator of real estate brokerage, the OACIQ’s mission is to protect the public, particularly by ensuring that brokers
Dry rot: what you need to know
The real estate broker's duties
To protect the interests of all parties to the transaction, the real estate brokerage professional...allow the broker to disclose this fact, the broker must refuse to list or to continue to list the property, and must purely and simply terminate the brokerage...The broker must also send this form to the buyer’s mortgage lender.
Ceasing of activities by a broker acting on behalf on a real estate agency
responsible for sending the change of agency notices to each client bound by a brokerage contract....>
Once these steps have been completed, the broker leaving the agency must notify the Certification Department by completing and forwarding the form...
For a change of agency: use the form
Procedures and conditions - Digital examination
Procedures and conditions for taking the OACIQ digital commercial real estate brokerage examination
You must successfully complete a basic...
Step 1 – Apply for an OACIQ digital commercial real estate brokerage exam
After consulting the Examination Forms page.
Application for an agency licence
code=se:113&pointInTime=20191110#20191110">section 113 of the Regulation respecting brokerage requirements, professional conduct of brokers and.../uploads/ckeditor/attachments/3310/form-ethical-conviction.pdf.pdf">Form to be completed in case of conviction • Ethical offenceForm to be completed in case of bankruptcy
New OACIQ promise to purchase forms in effect as of June 22, 2021
OACIQ Promise to purchase forms in effect since June 22, 2021
As part of the measures implemented to address the issues raised by the overheated...housing market, the Ministry of Finance and the OACIQ have agreed to amend the promise to purchase forms to reinforce the messages pertaining to the risks...standards
submits a written report to the party that requested the inspection services
(Section 81 of the Regulation respecting brokerage
The rules for a successful financing
Here’s how the Real Estate Brokerage Act protects you, if you enlist the services of real estate professionals duly authorized by the OACIQ....When making an offer to the seller, your broker will use the Promise to purchase form....This form sets out, among other things, your responsibilities as a buyer for mortgage financing, if any.
The OACIQ takes action to increase real estate literacy
training and certification exam were conducted, as well as continuing education activities for all brokers;
About fifty mandatory and recommended forms...
The Organization will also continue to simplify its tools with the collaboration of Éducaloi to review its forms in particular....professionals governed by the Real Estate Brokerage Act.
Shedding light on hidden defects
http://www.oaciq.com/uploads/ckeditor/attachments/358/declarations-seller.pdf" target="_blank">Declarations by the seller of the immovable form...: the use of this form may decrease the risk of prosecution for the seller and allows the buyer to be fully aware of all the facts during the...You cannot benefit from all the protection mechanisms provided for in the Real estate Brokerage Act in this situation either.
Steps to becoming a broker and obligation to maintain licence
Competency frameworks form an integral part of the basic training programs recognized by the OACIQ....To do so, the candidate must send the duly completed Request for examination grade...review form to the OACIQ no later than the 15th day following the date on which the results were mailed;
Broker’s duty to disclose: An added protection
The Declarations by the seller of the immovable form (or its version for divided co-ownership) is mandatory....If the seller refuses to provide the requested information or to sign this form, his broker will not be able to represent him in the sale....factors may not represent a latent defect that can undermine the integrity of an immovable, a broker has ethical obligations under the Real Estate Brokerage
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