Request of assistance
Whether you are a consumer or a licence holder, if you suspect an offence has been committed, you may ask for help from the OACIQ Assistance Service, who will analyze the case and determine how to proceed.
You will find in this section the form you must complete to submit a request for assistance, as well as several articles on this topic.
In order to properly carry out the mission and responsibilities assigned to them by their incorporating acts, some public bodies have special powers allowing them to require the disclosure of personal information through what is commonly called a “formal demand”. The person whose personal information is subject to such a demand may also be a client, a broker acting for an agency, or an employee of a broker or agency.
Following the work carried out over the last months and after reviewing the suggestions made by some brokers during the 2011 General Meeting of the OACIQ, the members of the board of directors of the Organization met on January 20, 2012 to decide on the internal by-laws of the OACIQ. Many suggestions have been retained and have led to amendments to the by-laws namely:
The advertising of below-market interest rates is an issue that affects the entire industry and is becoming a source of problems for most mortgage agencies and mortgage brokers acting on their own account. Many ads do not comply with the regulations.
The OACIQ has recently announced that as of December 1, 2012, the following forms must be used to conclude the lease of a dwelling: New forms for residential lease
When it comes to signing the act of sale before the notary, a common concern for the seller is to get his money as quickly as possible or to schedule a quick signing date. Remember that before distributing funds, the notary must always publish acts and perform many checks in the Land register, in addition to obtaining from the creditor a commitment to cancel the existing charges (for example the seller’s mortgage).
Since July 1, 2012, the new mandatory form Declarations by the seller of the immovable must be used for all transactions involving the sale, by a natural person, of a chiefly residential immovable containing less than 5 dwellings, including immovables held in divided or undivided co-ownership. The broker must complete this form with the seller and have him sign it at the same time as the brokerage contract is entered into. This is done for the purpose of transparency as well as to protect the interests of the parties to the transaction and those of the broker. The seller must provide the information to the best of his knowledge; the form does not require the seller to declare something that he does not know.
The Real Estate Brokerage Act and brokerage transactions relating to the sale of an enterprise
Under the Real Estate Brokerage Act, which came into force on May 1, 2010, a brokerage transaction relating to the sale of an enterprise remains subject to this Act only if the transaction is made under a single contract and the enterprise’s property, according to its market value, consists mainly of immovable property.
Since the coming into force of the new Real Estate Brokerage Act on May 1, 2010, brokers must open and maintain a trust account, regardless of their field of practice. All brokers have access to a trust account without exception.
It’s almost half of the 17,630 brokers who are required to complete the training started the process. For this purpose, if you have a full-service licence, but you deal with commercial real estate or mortgage brokerage, note that you must complete the online training on the new forms by June 30, 2012 at midnight.
Collaborating with the Inspection Department - An obligation reiterated in a recent Court of Appeal decision
Very often following a visit to an establishment, the Inspection Department will request certain adjustments to be made or corrective action to be taken right away or within a given period, depending on the urgency of what has been observed. These requests can be forwarded directly to the broker working on his own account, the executive officer of the agency, or the representing brokers.