Many protection mechanisms exist in real estate and mortgage brokerage, available through the Info OACIQ Information Centre, the OACIQ Assistance Service, the Inspection Committee, the Syndic, the Syndic Decision Review Committee, and the Discipline Committee.
Other means of protection include professional liability insurance and the Quebec Real Estate Brokerage Indemnity Fund.
Read this section to find out more about the various mechanisms put in place to provide you with the best protection.
The deposit according to clause 4.2 of the promise to purchase
The Real Estate Brokerage Act calls for its own implementation, and the advisability of maintaining it in force or of amending it, to be evaluated by the Finance Minister, who shall subsequently make recommendations to the government. This was the context in which, in 1997, the Association des courtiers et agents immobiliers du Québec (ACAIQ) began an in-depth evaluation of the supervisory structure of the profession. The Association examined all the legislative and regulatory provisions governing real estate brokerage to verify whether the control structure and the various mechanisms in place were effective in ensuring the protection of the public, as outlined in the Association’s mission. This long-term operation included surveys of some 9,700 members at the time, province-wide information sessions, consumer and real estate broker/agent focus groups, as well as consultations with consumer protection groups, government agencies, professional orders, real estate boards and the Quebec Federation of Real Estate Boards. This exercise lead to the publication, in November 2000, of a memorandum entitled ''Fully responsible real estate brokers for greater protection of the public''. The result of a broad consensus within the profession, this document identified ways in which the Real Estate Brokerage Act could be modernized to maximize the quality of professional services and adapt the legislative and regulatory framework to the current and future practice of real estate brokerage.
Starting in November until next June, the ACAIQ will begin running ads in about a dozen selected magazines to promote the professional services of real estate brokers and agents. These ads also remind consumers of the importance and scope of the role of real estate professionals and the advantages of using their services. This initiative will help increase the demand for real estate broker and agent services and raise awareness about the ACAIQ, and consequently the level of consumer confidence. It should also encourage consumers to visit our Web site at acaiq.com.
The OACIQ General Meeting 2011, held on May 9th at the Étoile room in Brossard under the theme "Let your voice be heard", has attracted more than 300 brokers. Facilitated by Stephan Bureau, the event generated many exchanges that will lead us all towards the same goal.
Last October, the OACIQ has sent its recommendations to the Committee on Citizen Relations regarding the Bill No. 24, which is mainly intended to combat consumer debt overload and modernize consumer credit rules.
As announced in the article The OACIQ is concerned about a recent decision rendered by the Court of Quebec published in the pro@ctive of December 1, 2011, the Court of Quebec has acquitted DuProprio of six counts brought against it on November 28, 2011. “We have substantial grounds for believing that DuProprio has committed many offences against the Real Estate Brokerage Act and this is why we will appeal the decision”, said Mr. Robert Nadeau, the President and Chief Executive Officer of the OACIQ.
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.
L'Association des courtiers et agents immobiliers du Québec (ACAIQ) a produit ce dépliant dans le but de faire connaître les mécanismes de protection du consommateur dans le domaine du courtage immobilier au Québec.
The Real Estate Brokerage Act and brokerage transactions relating to the sale of an enterprise
Under the Real Estate Brokerage Act, which came into force on May 1, 2010, a brokerage transaction relating to the sale of an enterprise remains subject to this Act only if the transaction is made under a single contract and the enterprise’s property, according to its market value, consists mainly of immovable property.
The Environment Quality Act (''the Act'') establishes rules regarding land protection and rehabilitation in case of contamination. It is supplemented by the Land Protection and Rehabilitation Regulation, whose purpose includes setting out the types of industrial or commercial activities that require a particular treatment and establishing contamination limit values beyond which rehabilitation measures must be undertaken.