Real Estate Brokerage Law
With the protection of the public as its core objective, the Law provides certain rules relative to the use and drafting of multiple contracts and annexes required in the exercise of real estate brokerage as well as standards of practice similar to certain rules of the Consumer Protection Law.
OACIQ – Organisme d’autoréglementation du courtage immobilier du Québec
Created by virtue of the Real Estate Brokerage Law, this body has as its mission the protection of the public by providing a clear framework for the practice of all Real Estate professionals. It is responsible for administering the exam leading to the issuance of a practice certificate and ensure that all brokers’ activities are conducted in compliance with the applicable law and rules by conducting professional inspections. Agencies or brokers who fail to comply with the rules and prescribed ethics will be called to appear before the disciplinary body and, when found guilty, may receive fines and/or licence suspensions. To know more, visit www.oaciq.com.
Real Estate Brokerage Indemnification Fund
Funded by mandatory real estate and mortgage broker contributions, this fund is allocated to the indemnification of victims of fraud, dishonest operations or embezzlement of funds or property, in the context of a real estate transaction, by an agency or a real estate/mortgage broker. To know more, visit www.indemnisation.org
Insurance for Real Estate Brokers and Professionals of Quebec Fund
Mandatory for all real estate brokers, it provides an extra financial protection to consumers in case of error, negligence or omission by the agency or the real estate or mortgage broker. This insurance covers civil and civil litigation claims.
Real Estate broker having chosen to take the Passion Condo training acquired a greater and sharper competence in the complex condo sales environment. This training, accredited by the OACIQ and dispensed by Me. Pierre Champagne of the firm De Granpré Jolicoeur, Lawyers-Notaries specialized in Real Estate and Co-ownership, deals with multiple legal and administrative aspects of condos. For further details visit condolegal.com
QSC – Quality Service Certification
QSC-certified real estate brokers put their Quality Service Certification – Commitment in writing which describes all the services that the real estate broker will render in the full course of a real estate transaction. Their clients’ satisfaction will alter be assessed via a third-party survey, the results of which will be made public on the QSC website. See http://www.certificationqsc.ca/en/
Offered exclusively by participating RE/MAX brokers which pay into this program annually, the Tranquilli-T protections are offered to you free of charge. You will benefit from a legal hotline, the reimbursement of your legal fees and/or expenses related to the delay or withdrawal by the other party or the payout of the full sale price in the case of the buyer’s passing. Certain conditions apply. Please consult Tranquilli-T : FAQ for more details.