The Association is issuing recommendations to real estate brokers and agents regarding the iron ochre issue.
It is not unusual, especially in cottage country, for a seller to claim that he has a “right-of-way” to the lake or “lake access” rights.
It is quite frequent for a buyer to wish to make his promise to purchase more attractive (for example by increasing the amount offered) in order to improve his chances of it being accepted. This can happen, among other things, in situations where several promises to purchase are being presented simultaneously.
It is common practice for clients looking for a mortgage loan to sign an exclusive mortgage brokerage contract, otherwise known as an “exclusive mandate”, with a mortgage broker.
There are companies out there that offer compensation advance services. In order to advance funds, they may require that real estate brokers or agents provide them with documents that are liable to contain personal information, including promise to purchase, mortgage approval and brokerage contract documents.
You have just completed a transaction and your customers are about to move. Why not tell they can do their change of address with six government departments and agencies in one step?
As we know, the practice of real estate brokerage in Québec involves collaboration and compensation sharing between members. It is more and more common to see real estate brokers working in collaboration with brokers from other jurisdictions.
Contacting the Fonds d’assurance responsabilité professionnelle de l’Association des courtiers et agents immobiliers du Québec (FARCIQ) should be the first reflex of a real estate broker or agent who receives a verbal or written reproach, regardless of the amount involved.
Measures have been implemented to ensure that requests for assistance may be processed within a reasonable time frame. Among these, any agent who wishes to file a request for assistance with the ACAIQ must first have it signed by his broker or manager.
Some real estate brokerage firms offer services in more than one field of practice, for instance residential and commercial and therefore do not specialize only in commercial transactions.