Although created officially in 2010, the OACIQ has a rich history that began in the 1950’s. The following timeline provides an overview of the various milestones and events that marked its current mission.
The Corporation des courtiers en immeubles de la province de Québec is created on January 13, 1954
Beginning with a handful of members and very limited resources, the Corporation focuses on public protection and on advancing the professional interests of real estate brokers.
The first Real Estate Brokerage Act is adopted.
The Real Estate Brokerage Act is amended to create the Service de courtage immobilier, a government agency responsible for regulating and issuing permits. The Corporation des courtiers en immeubles collaborates with the Service.
The Corporation des courtiers en immeubles is succeeded by the non-profit Quebec Real Estate Association (QREA). Although this professional association does not have any powers under the Real Estate Brokerage Act, it sets standards for professional conduct and training.
The Québec government adopts a Professional Code to ensure the protection of the public while allowing professional corporations to remain autonomous (e.g. Collège des médecins, Chambre des notaires, Barreau du Québec).
Although not a professional corporation, the QREA develops its ability to self-manage and to differentiate between "protecting the public" and "defending the rights of its members".
It adopts a code of ethics, a disciplinary process and a mediation and arbitration procedure for all of its membership. Despite the Association’s limited legal means, these tools soon prove their worth and lead to higher standards for the profession.
That same year, the QREA proposes a complete training program for real estate brokers and agents, including an annual refresher course. A voluntary advanced training program and specialization courses are discussed, the equivalent of what is offered by the current Continuing Education Department.
The Association also suggests that candidates who successfully complete the certification training be officially recognized with the title of chartered agent. Concurrently, the government decides to amend the Real Estate Brokerage Act to require the successful completion of college-level courses.
The Real Estate Indemnity Fund (FICI) is created under the Real Estate Brokerage Act.
This government agency provides free protection to sellers, buyers and lessees in case of fraud, dishonest tactics or misappropriation of funds committed by real estate brokers or agents in the course of their activities.
The number of QREA members reaches over 13,000, from 4,000 in 1974. This growth gives the profession the resources it needs to reach its objectives.
A new Real Estate Brokerage Act comes into force, creating the Association des courtiers et agents immobiliers du Québec (ACAIQ), which replaces the QREA.
The ACAIQ’s mission signals an era of change. Bringing together Québec’s 18,000 real estate brokers and agents, the ACAIQ is entrusted with the responsibility of enforcing the Real Estate Brokerage Act and the regulations thereunder, enacted in August 1993.
The Fonds d’assurance responsabilité professionnelle du courtage immobilier du Québec (FARCIQ) begins operations for all Québec real estate brokers and agents.
To better respond to changing needs, a draft revision of Real Estate Brokerage Act is tabled in December.
The new version of the Real Estate Brokerage Act is approved and adopted by the National Assembly in May.
Its purpose is to reform the oversight of real estate brokerage in Québec and overhaul its regulations. The ACAIQ is poised to become the Organisme d’autoréglementation du courtage immobilier du Québec (OACIQ).
The new Real Estate Brokerage Act comes into force on May 1, 2010, and the ACAIQ becomes the OACIQ.
The OACIQ upholds the ACAIQ’s mission and mandate, except that the new Real Estate Brokerage Act gives it extended powers, enabling it to better regulate the profession and provide more comprehensive protection to the public.
The main changes made to the Act are as follows :
- The designation "real estate agent" is replaced by "real estate broker", and former "brokers" are now "agencies";
- Mandatory continuing education sessions are introduced for brokers and agency executive officers;
- Entrance examinations measure key competencies applied to real-life cases, replacing the former multiple-choice, knowledge-based examinations
- The OACIQ Assistance Department is officially recognized.
In addition, the Organization now manages the Real Estate Indemnity Fund (FICI), although the Fund’s assets remain separate from those of the OACIQ.
In July, the OACIQ team moves into a brand-new building in Brossard.
In March, the OACIQ tables its first Annual Report.
In the fall, the Think about it advertising campaign is launched. Dedicated to increasing awareness of the indispensable role of the broker, the campaign is aimed at both consumers and real estate professionals. The results are excellent: the microsite receives over 300,000 hits and members of the public say they are increasingly likely to use the services of a real estate or mortgage broker.
In February, many of the profession’s stakeholders meet for a one-day event called the “Real Estate Summit”.
They ponder the future of real estate and mortgage brokerage in Québec and define the best approaches to guarantee future success.
In addition to a management group, five working groups are created to make good on the resolutions adopted at the Summit in the area of training, collaboration, agency executive officers, province-wide advertising and service offer, and integrated communication plan.
Following the Summit, a regulatory change is announced by the Minister on November 28, 2012, establishing OACIQ-recognized mandatory basic training for all candidates starting in September 2013.
The OACIQ also sets up two internal working groups, one on mortgage brokerage and the other on commercial real estate brokerage.