Request of assistance

A discussion group of people who handle consumer complaints in British Columbia drew up a list of the most common, in order to get a better idea of what people’s main concerns are with regard to real estate transactions.

The year 2004 was an exceptional one in terms of certificate renewals. A total of 13,659 certificates were renewed, whereas the ACAIQ membership numbered 12,190 at the beginning of the year. The pilot project for online renewals was very successful.

In addition, the number of candidates to the entrance examination increased by 62% this year. Candidates numbered 3,045 for the affiliated agent examination and 171 for the chartered broker or agent examination. The success rates were 86.9% and 75.4% respectively.

A total of 11,265 certificates were renewed at the end of 2003, where the ACAIQ had 11,264 members at the beginning of the year. In addition, the number of candidates to the entrance examination increased by almost 20% this year. A total of 1,897 candidates took the affiliated agent examination and 205 wrote the chartered broker or agent examination. The success rates were 86.6% and 62% respectively.

In keeping with its mission of protecting the public and in an effort to provide real estate brokers and agents with the information and support they need to do their jobs properly, the Association is pleased to introduce Info-ACAIQ. We are also happy to inform you of a brand new department called Assistance ACAIQ. These new projects follow the approval by the Board of Directors of the Association's 2002-2004 strategic plan. As you know, several studies conducted by outside firms, including focus groups and surveys, have enabled us to clarify the expectations and needs of real estate brokers and agents as well as those of consumers.

In the context of a real estate transaction, it frequently happens that a buyer makes a deposit on the sale price. The broker who receives this sum must then, if he is acting for an agency, gives it immediately to the agency to be put in its trust account or in the account of the agency to which your agency delegated its obligations. If the broker is acting on his own account, he must put it in his trust account. The sum received from the buyer must remain in the trust account until it is required by the notary for signing of the deed of sale.

Technology offers new ways for real estate brokers and agents to perform their work. It also gives them access to more information anywhere, any time, in response to professionals’ ever-increasing need for mobility. Aware of information technology’s potential for increasing productivity within our profession, the ACAIQ has taken steps to help members make the most of it.

Last April, the new Synbad Technologies Assisted PurchasingTM service was officially launched at the 2005 ACAIQ Education Event. This new service provides real estate brokers and agents with unsurpassed purchasing power for office automation equipment, access to helpful advice and the ability to choose from a wide variety of leading brand products.

Paying the rent to the landlord on the agreed date is a tenant's main obligation.

You are a real estate broker and you are working in a team. You have certainly put in place, within the team, a way for effectively circulating the information regarding visit requests and promise to purchase presentation; and this is a good thing. We have already discussed this matter in a previous column. We have particularly dealt with the case of members belonging to the same team who have not taken the necessary measures to ensure that visit requests are effectively dealt with and who have been penalized by the OACIQ discipline committee.

Financing can make or break a real estate transaction. Therefore, in order to properly advise his clients, it is important that a real estate broker fully understand the obligations relating to new hypothecary loan. These obligations can be found under section 6 of various mandatory Promises to purchase forms of the OACIQ, 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.