Open a sessionForms and contracts
Before you buy or sell a property, why not take a little time to review the OACIQ’s mandatory and recommended forms used by your broker? They will give you a good idea of the main steps involved in a real estate transaction.
Please note that these forms are provided for illustration purposes only and cannot be used for an actual transaction.
Mortgage fraud and illegal brokerage
Sometimes a real estate or mortgage broker can be faced with an illegal brokerage situation as part of his brokerage transactions. In such situations, there are particularly activities relating to mortgage fraud, putting public protection at increased risk. Here are a few examples of illegal and fraudulent practices, brought to the attention of the Organization’s investigators in the course of their investigations.
Telephone information and solicitation services: Know how to use them legally
Before doing business with this type of company, it is important that real estate brokers and agents make sure they follow the rules regarding advertising, representations and the soliciting of clients.
Illegal practice
In Quebec, any real estate brokerage transaction, for compensation and for others, must be carried out by a duly certified real estate broker or agent, i.e. one who holds a certificate to practice issued by the ACAIQ.
Illegal practice
In Quebec, any real estate or mortgage brokerage transaction, for compensation and for others, must be carried out by a certified real estate or mortgage broker or agency, i.e. holding a valid licence issued by the OACIQ. A contravention of this rule constitutes a violation under the Real Estate Brokerage Act and exposes the violator to legal proceedings before the Court of Quebec.
A verbal agreement makes no difference
PRACTICE
From January to July 2004, Denis Talbot, a former real estate agent who had not renewed his certificate expired on December 31, 2003, performed various real estate brokerage acts by acting as intermediary in the sale of one of his friends’ property.
A suspended or revoked licence bars the holder from practicing
A real estate or mortgage broker whose licence is suspended or revoked is no longer authorized to practice his profession or carry out brokerage transactions. He must cease any real estate or mortgage brokerage-related activity.
