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.
Mandatory basic training: Important information for candidates wishing to become real estate or mortgage brokers
(Updated on September 6, 2013)
In an effort to enhance brokers’ skills and address the concerns of real estate professionals, any candidate wishing to take the OACIQ certification exam since September 1, 2013 must have previously taken and passed a basic training program recognized by the OACIQ.
The OACIQ provides the public and licence holders with the name of various educational institutions offering training programs in real estate brokerage.
(Updated on September 10, 2013)
The OACIQ certification examinations simulate a real estate transaction and are designed to validate a candidate’s ability to use the various resources at his disposal and to apply and adapt them to different professional contexts.
Are you an agency executive officer or a real estate or mortgage broker in another province and now wish to practice in Québec? Here is how:
How long should a brokerage contract last? The answer is simple: it is up to the consumer and the agency or the broker to determine the length of the contract. There are no rules in the Act or the regulations stipulating a minimum or maximum term for a brokerage contract. The agency or broker must act according to the client’s wishes.
The OACIQ Assistance Service, which fields consumer complaints and requests for assistance, has drawn up a list of the most common ones processed by our analysts.
It is not unusual, especially in cottage country, for a seller to claim that he has a ''right-of-way'' to the lake or ''lake access'' rights. Of course this constitutes a major plus for a potential buyer. But what is the real situation here? Here are a few thoughts to help you ask the right questions before you advertise a cottage for sale ''with'' lake access rights.
During a real estate transaction, real estate brokers often have to deal with cases of non-compliance with the obligations or rights contained in Acts of Servitude. Infringement of a servitude may delay the finalization of a transaction, and often causes problems between the seller, buyer and creditor. Hydro-Québec regrets having to do so, however, as the owner of a distribution network, it must assume its obligations and responsibilities.
The OACIQ is concerned by the actions of some brokers or agencies representing sellers with regards to Open Houses, having observed that some do not know the proper way to handle potential buyers who go to Open Houses. This is creating a lot of unnecessary confusion, sometimes even leading to disputes.
We are often asked the following question: to what extent a real estate agency or broker may sell new houses for a builder or developer? First, it is essential to state that acting as an intermediary between a buyer and a builder in the purchase of a new house in exchange for compensation constitutes real estate brokerage within the meaning of the Act.
The Detailed Description Sheet is an ever-evolving tool. A real estate broker can make changes to it at any time throughout the length of the brokerage contract. It is essential therefore that both the seller’s broker and buyer’s broker make sure they always have the most up-to-date description sheet when taking up a promise to purchase.
Whether or not certain items are included or excluded from the sale of an immovable is a source of many disputes between buyers and sellers. It is therefore important for the broker or agency to identify very clearly, with the seller, what will or will not be included in the sale.
Since May 1, 2012, a broker must verify identities each time he acts as intermediary in a brokerage transaction (residential, commercial or mortgage).
Sometimes a seller decides that he no longer wishes to sell his immovable and wants to terminate the brokerage contract by which he entrusted the sale of his immovable to a broker or agency. A buyer or lessor can also sometimes wish to terminate a brokerage contract. This is possible in certain situations, including by invoking the right to cancel allowed under the Real Estate Brokerage Act (hereafter “the Act”) or pursuant to a provision included in the brokerage contract.