Transactions in Mauricie: What should a broker who has not completed the pyrrhotite training do?

The cracks caused by pyrrhotite in many properties of Greater Trois-Rivières area, built between 1996 and 2008, cause a lot of trouble to many sellers and buyers in Mauricie. Therefore, it is essential that the real estate brokers from this area and those carrying on professional activities in Mauricie know the ins and outs of this issue in order to properly advise and protect their clients.

Given the scope of the pyrrhotite issue in the Greater Trois- Rivières Region and following the recommendation of the Real Estate Chamber of Estrie-Mauricie-Centre-du-Québec, the OACIQ introduced in 2013 a training to demystify all the aspects of this issue. Depending on your practice, here are the obligations related to it.

Obligations of brokers practising in Mauricie

The online training must be taken by all real estate brokers usually practising in this region, whether or not they are working in an establishment located in the Mauricie region (i.e. administrative region 04) and members or not of the Real Estate Chamber of Estrie-Mauricie-Centre-du-Québec.

Finally, since April 1, 2013, any new broker who obtained his licence and wishes to practise in the Mauricie region (administrative region 04) must take this training, no later than the 10th day following the issuance of the licence. This same deadline applies to:

  • brokers who change establishment to move to the Mauricie region (administrative region 04) to practice their profession; AND
  • brokers who are new members of the Real Estate Chamber of Estrie-Mauricie-Centre-du-Québec of this region.

Obligations of other brokers of the province

The other brokers in the province who wish to carry out a brokerage transaction in this region must:

Based on the following situations, if he did not complete the training, he must:

1- For marketing purposes:

  • complete the self-training course before signing a brokerage contract to be able to carry out the necessary verifications, inform and advise the seller about the issue of pyrrhotite; OR
  • If he does not wish to take the training, enlist the services of a broker who has already completed the training through a co-listing that must be indicated in the brokerage contract or refer the seller to a broker who has completed the training.

2- To represent a buyer during a purchase or financing transaction:

  • Complete the online training before representing the buyer to be able to carry out the necessary verifications, inform and advise the buyer on the issue of pyrrhotite; OR
  • If he does not wish to take the training, refer the buyer to a broker who has completed the training and who has the necessary skills to successfully complete a transaction in this region.

What should the seller's broker do when he finds that the person acting as the buyer's broker is not authorized to do so because he has not completed the pyrrhotite training?

  • When the seller's broker finds that the person acting as the buyer's broker is not authorized to do so because he has not completed the mandatory pyrrhotite training, he must present his client with any offers to purchase submitted to him. However, he will not be able to continue dealing with that person, but he will be able to proceed with the transaction by acting as the sole intermediary between the buyer and seller (unless the buyer is represented by another qualified broker).
  • The seller's broker must then inform the seller and the buyer of the situation, i.e. that the promise to purchase was received from an unauthorized person and the fact that he will henceforth act as sole intermediary.

Reminder

  • The agency executive officer must supervise and monitor his agency brokers and collaborate with the OACIQ. To avoid the consequences of a potential request for assistance, you must ensure that the brokers have the necessary skills before even starting a real estate transaction in Mauricie.
Last updated on: November 27, 2024
Numéro d'article: 123479