Forms 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.
Although this situation occurred before May 1, 2010 and was therefore governed by the old Real Estate Brokerage Act, R.S.Q., c. C-73-1, it is a good example to illustrate that a verbal agreement makes no difference when it comes to the illegal practice of brokerage activities.
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.
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.
All real estate and mortgage agencies and brokers practicing in Québec must hold a licence issued by the Organisme d’autoréglementation du courtage immobilier du Québec (OACIQ). The OACIQ’s mission is to protect the public by enforcing rules of professional conduct and by inspecting the affairs of brokers and agencies.
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.