When to suspend or revoke a licence
Whether for a personal project, maternity or sick leave, retirement or even a sabbatical year, you may be thinking of temporarily or permanently ceasing your real estate brokerage activities. Depending on the situation and the length of the interruption, a real estate broker may voluntarily choose to suspend or revoke his licence. However, this situation can also occur without the broker having requested it, especially when he does not abide by his regulatory obligations to maintain his licence valid.
IMPORTANT:
It is prohibited to practise while the licence is suspended or revoked. In addition, to return to practice, the real estate broker must ensure that he meets the regulatory obligations to keep his file up to date, pays any amounts due to the OACIQ and completes any training imposed as a result of an undertaking or as part of the Mandatory Continuing Education Program (MCEP).
Licence suspension
If a real estate broker plans to resume his real estate brokerage activities after a short break of a few weeks or months, licence suspension may be an advantageous solution.
What you need to know:
- The broker must send a suspension request by email to certification@oaciq.com, along with the licence suspension fee.
- The annual fee must be paid by April 30 to keep the licence suspended.
- To return to practice, the real estate broker must submit a request to lift the suspension, along with the licence suspension fee, and ensure that all regulatory obligations are met.
Access to Brokers' Area and OACIQ communications is maintained.
Licence revocation
If a real estate broker wishes to cease his real estate brokerage activities for an extended period or does not plan to practice again, it is recommended that his licence be revoked.
What you need to know:
- The broker must send a revocation request by email to certification@oaciq.com, along with the licence revocation fee.
- The licence will be revoked, and it will no longer be necessary to pay the applicable annual fee.
- A portion of FARCIQ’s professional liability insurance premium could be refunded, based on the months remaining before April 30.
- If the real estate broker changes his mind and wishes to return to practice within 12 months of licence revocation, he will not have to retake basic training or pass a certification exam to reactivate his licence. He may also choose to maintain his acquired rights for one or more additional years by paying the required fees.
- Access to Brokers' Area and OACIQ communications is maintained.
Fees and obligations depending on licence suspension or revocation
| Licence suspension | Licence revocation | |
|---|---|---|
| Cessation of real estate brokerage activities | Complete and submit the suspension request form. Notify clients in writing immediately. | Complete and submit the revocation request form. Notify clients in writing immediately. |
| Application fees | Yes (administrative fees). | Yes (administrative fees). |
| Applicable annual fees | Yes (annual fee required by April 30). | No |
| Return to practice | Yes, subject to a fee for lifting the licence suspension. Complete and send the Request for lifting of licence suspension form. | Yes, subject to a licence application fee. Complete and send the Application for issuance of a licence* form. * The fees for a licence application vary depending on the month in which the broker resumes his activities and include: application examination fee, FICI contribution, InstanetFormsTM electronic forms subscription fee, criminal record check fee, applicable taxes and FARCIQ premium. |
| Mandatory Continuing Education Program (MCEP) | Obligation to be up to date. | Obligation to be up to date. |
| Access to Brokers' Area and OACIQ communications is maintained. | Access maintained. | Access maintained. |
| Reimbursement of fees | No | Yes, FARCIQ insurance fee based on remaining months until April 30. |
- Reference number
- 300228
- Last update
- February 17, 2025