Duties and Obligations of the Broker
The practice of real estate and mortgage brokerage is regulated in order to ensure that members of the public are protected when engaging in a real estate transaction through a broker’s intermediary. The rules and conditions of practice governing the profession are set out in the Real Estate Brokerage Act, the Regulations thereunder and the Rules of Professional Ethics. Read this section to learn more about the duties and obligations of your broker.
December 2010 • Elections will be held in May 2011 for two of the four Director positions in the Montréal region, and for the Director position in the Western region, which is currently vacant.
A notice of opening of the nomination period will be sent to you in early 2011. The notice will outline the requirements to run for office.
November 2010 • The OACIQ is using various vehicles to explain the state of things to brokers and the public concerning the agreement reached between the Canadian Real Estate Association and the Commissioner of Competition.
Click on the link below to read everything that has been published by the OACIQ on this topic as well as the content of media interviews (French only) given by OACIQ President and CEO Robert Nadeau.
December 2010 • Did you know that you have an obligation to respond within the set deadline to any request to update the information which the OACIQ keeps concerning you?
November 2010 • As previously announced, with the coming into force of the new Real Estate Brokerage Act on May 1, 2010 and the development of the OACIQ’s corporate image, we have revamped some of the publications aimed specifically at you. Thus the ACAIQ InfoLetter has given way to pro@ctive , the newsletter which you have been receiving since the implementation of the new Act.
Under this Agreement, the CREA must allow Sellers to retain the services of a broker for the Mere Posting of a property on the MLS System, without the Sellers also having to use all of the other services offered by the broker.
Since the coming into force of the Real Estate Brokerage Act on May 1, 2010, all real estate or mortgage agencies, as well as all real estate or mortgage brokers acting on their own account must submit an annual report on the sums held in trust and a copy of their disclosure notice register before March 31, 2011.
Your “2010 Self-Inspection” is now available on line. It is straightforward and user-friendly. Simply follow the instructions.
L’OACIQ poursuit sa démarche publicitaire!
Dès lundi prochain, soit le 21 mars, la deuxième phase de la campagne publicitaire lancée à l’automne battra son plein sur Internet pour une période de six semaines.
Sometimes, the buyer of an immovable does not take out a mortgage loan, preferring to pay cash for his purchase. In such cases, the real estate agent must take steps to protect himself, protect the seller and ensure a smooth transaction.
Several of you sent us comments regarding the increase in the chargeable fees appearing on that invoice. It is our role to shed light on issues such as these, and to refer you to the documents containing the information that has already been made public on this topic.