Public articles
Checking the previous seller’s declarations, documenting your record and informing the buyer: Obligations to keep in mind
The seller’s broker must check the previous description sheets and Seller’s declarations. He must verify their accuracy and document the steps taken in his record, whether or not the documents are found.
Prefabricated wood-burning fireplaces and condominiums: Caution is required
The real estate broker acting as an intermediary for the sale or purchase of a fraction of a residential immovable held in divided co-ownership, containing a prefabricated wood-burning fireplace, must inform the seller or the buyer of the potential issue.
Fraud Prevention Month: Once again the OACIQ undertakes to closely monitor illegal brokerage schemes
In this fraud prevention month, the OACIQ reiterates its commitment to closely monitor real estate fraudulent practices, especially illegal brokerage activities, and invites consumers to take some precautions.
How to compensate my residential real estate broker?
Whether you are looking to buy or sell a property, the real estate broker’s compensation can be negotiated–commission or percentage, lump sum, hourly rate. The OACIQ supervised broker must clearly explain to you what his contract with you implies.
Marketing and social networks
Before advertising the sale of a property, whether on an information listening service or social networks such as Facebook, the rules set out in the OACIQ’s regulations must be respected. Thus, a brokerage contract to sell must be signed with the seller.
The agency executive officer, a key resource to be more acquainted with
The agency executive officer is responsible for ensuring that the agency brokers meet their duties and obligations. If you experience a problem with your broker, you may call upon him.
An 18-month suspension to an agency executive officer for illegal use of the trust account
This decision by the OACIQ Discipline Committee confirms the importance of rigorous management of an agency's trust account, regardless of circumstances.
Capsule of Info OACIQ - Should the seller’s broker attend an open house?
The OACIQ wishes to point out that a broker or agency may advertise an open house only if the seller’s broker is present during the open house or if he is able to be replaced by another broker.
Have your fireplaces, stoves and chimneys inspected!
When selling an immovable, whether you're a seller or buyer, you should not take for granted that the stove, fireplace or chimney of the immovable meets the current standards of both the insurer and the municipality. Hence the importance of an appropriate verification.
Contaminated soil, dry rot, radon, cannabis, etc.: How to protect yourself
During a real estate transaction, whether you're a seller or buyer, how can you be sure you are giving or getting a clear picture about the possibility that the property is located on a former landfill site or that it is affected by radon, pyrite, dry rot, etc.?
The Agency Executive Officer’s Compliance Program
The OACIQ has developed the Agency Executive Officer’s Compliance Program to reinforce the oversight of real estate brokerage and promote a culture of compliance among licence holders.
City of Montréal’s pre-emptive right
The City of Montréal benefits from a pre-emptive right.
AEO condemned for failing to ensure that he receives and verifies his broker’s transaction documents in a timely fashion
The agency's lack of rigour and follow-up with broker X also resulted in the condemnation of his agency executive officer.
Coming into force of the Cannabis Act: New verification, disclosure and advice challenges for brokers
The Cannabis Act (“Federal Statute”) and the Act to constitute the Société québécoise du cannabis, to enact the Cannabis Regulation Act and to amend various highway safety-related provisions (“Provincial Statute”) aim to regulate the production, possession and consumption of cannabis.
Natural disasters: Impacts on the Promise to purchase
Your property or the property you are considering to purchase has sustained damage following a natural disaster? Here are the answers to some questions you may ask.
Fraud and fraudulent tactics: An obstacle to broker credibility
A single high-profile case of fraud is enough to affect the credibility of all licence holders.
Properties located on former landfill sites: clarifications by the OACIQ
Following a report on the program La Facture on September 18, 2018, the OACIQ would like to make the following clarifications.
Brokers suspended for sending false documents
Licence suspensions of up to one year and fines of up to $6,000 were imposed on brokers for participating in a scheme to obtain fraudulent financing for the purchase of properties.
Certain precautions are required for a cash purchase
Sometimes, the buyer of an immovable does not take out a mortgage loan, preferring to pay cash for his purchase.
Billing in cases where clause R2.5 is used
Case where the seller is not represented / Case where the seller is represented
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