Training and career in real estate
To access the real estate or mortgage broker’s exciting career, what training should be taken? Discover the requirements to practice real estate and mortgage brokerage and learn more about recognized mandatory basic training programs. By checking this section, you will also know what tools are available to you to practice the profession according to generally accepted practices.
In an effort to enhance brokers’ skills and address the concerns of real estate professionals, any candidate wishing to take the OACIQ certification exam as of September 1, 2013 must have previously taken and passed a basic training program recognized by the OACIQ.
The competency frameworks are guides to help future brokers understand what competencies must be developed and mastered in order to act ethically and responsibly in their brokerage practice.
The OACIQ provides the public and licence holders with the name of various educational institutions offering training programs in real estate brokerage.
The 2012 annual general meeting of the OACIQ will be held on May 9, 2012 at the Mortagne hotel in Boucherville. It is a unique opportunity for you to discuss the importance of developing skills in your practice.
The payment period for your OACIQ licence fees, contribution to the Real Estate Indemnity Fund and professional liability insurance premium, as indicated on your 2012 licence maintenance notice has started.
Amendments to Regulation respecting brokerage requirements, professional conduct of brokers and advertising , Regulation respecting the issue of broker’s and agency licences, and Regulation respecting records, books and registers, trust accounting and inspection of brokers and agencies, will come into force on March 29, 2012.
Since July 1, 2012, it’s the rules set forth in the new Regulation respecting contracts and forms which govern any brokerage contract or transaction proposal. These rules apply to residential and commercial real estate brokerage as well as mortgage brokerage.
Generally, the sale of a residential complex that is not newly constructed and has not undergone substantial renovations is exempt from GST and QST.
Each year, the OACIQ Info Center receives many calls from real estate brokers who wish to buy or sell a property for themselves and want to know what the Real Estate Brokerage Act has to say in this regard, in order to make sure that the transaction complies with the regulations. Please note that under section 18 of the Regulation respecting brokerage requirements, professional conduct of brokers and advertising, a broker must disclose his quality as broker in all cases.
Are you a real estate broker with a full-service licence or a licence restricted to residential real estate? As of April 23, 2012, you are invited to register and start the mandatory online training on the new elements and amendments to forms.
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).
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.
On February 16, 2012, La Presse published an article entitled Courtage immobilier : bientôt un meilleur encadrement (Real Estate Brokerage: soon a better supervision) in which it is stated that it will be mandatory to sign an exclusive brokerage contract when a buyer wishes to be represented by a broker. This statement has raised many questions and needs to be qualified.