10 actions to protect the public

Each real estate transaction involves, for both an individual and a company, significant financial and human challenges.

Through the Real Estate Brokerage Act, the Quebec Government has entrusted the exclusive mission of protecting consumers who enlist the services of real estate brokers to the Organisme d’autoréglementation du courtage immobilier du Québec (OACIQ).
 

Here is an overview of 2019 and how the OACIQ has fully assumed its role as a regulator.

 

01 - Information centre Info OACIQ

First place to contact for any questions about real estate brokerage. In 2019, the satisfaction rate of members of the public who contacted an information agent was 98%.

Learn more about Info OACIQ


 


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57,999
requests processed by our information agents

 

 

02 - The oaciq.com website

Our website, which is a platform for disseminating current content and practical tips, welcomed 1.4 million visitors in 2019. Undoubtedly, the Check a broker's record tool is a must for anyone buying or selling with a broker.


 

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44%
increase in website traffic

 

 

03 - Public Assistance Department

For each request, the nature of the complaint was reviewed by an analyst who identified and decided on the appropriate course of action, and then guided the plaintiff throughout the process.

Learn more about the Public Assistance Department

 

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2,470
requests for assistance were received

 

 

 

04 - Certification department

Aspiring brokers must take examinations supervised by the Certification Department They can then apply for a licence. In 2019, 1,962 licence applications were processed.

 

 

 

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2,272
exams
taken       

 

 

             

05 - Inspection Department

Inspections help the OACIQ ensure that the activities and skills of licence holders are or become compliant with the Real Estate Brokerage Act.

 

 

 

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2,330
brokers and agencies inspected

 

06 - Continuing education for brokers

A Mandatory Continuing Education Program must be completed by all licensees and they must earn a specific number of Continuing Education Units (CEUs) to ensure that their licence remains valid. In 2019, the Training Department awarded over 187,000 continuing education units.

 

 

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557
training activities offered

 

 

07 - Discipline Committee

For sanctions, the Discipline Committee considers the injury suffered as a result of and the benefits derived from the offence. In 2019, 81 licences were suspended and 19 were revoked, and 100 fines were imposed for a total of $195,000.

Learn more on the Discipline Committee

 

 

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263
penalties imposed

 

 

08 - The Syndic

The Syndic’s Office investigates any alleged violations to the Real Estate Brokerage Act and its regulations.

Learn more about the Syndic

 

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340
investigations opened

 

 

09 - Fonds d'assurance responsabilité professionnelle du courtage immobilier du Québec (FARCIQ)

The Fund offers financial protection to consumers in case of unintentional fault, error, negligence, or omission committed by a real estate agency or broker. In 2019 the Fund paid $1.5 million in indemnities.

 

 

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697
claims

 

 

 

 

10 - Real Estate Indemnity Fund (FICI)

The maximum indemnity that can be paid to consumers who are victims of fraud, fraudulent tactics or misappropriation of funds is $100,000 per claim. In 2019, 5 indemnity claims were approved, for a total amount of $70,678.

Learn more about FICI

 

 

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40
files processed

 

 
   

For more information

Wish to learn more about the activities of the OACIQ and how we fulfil our mandate, as well as the Organization’s financial results? Check our Annual report 2019.

 

Last updated on: January 22, 2021
Reference number: 208069