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:
– PROFESSIONAL PRACTICES SERIES –
The various mandatory Promise to purchase forms for residential brokerage have undergone a few changes in the wording of the clause concerning the deposit to be paid on the purchase price. These changes do not represent a drastic change in the way the deposit is managed, but they do require a few adjustments on the part of the broker and the agency.
Which copy goes to whom when signing the paper version of a contract, a transaction proposal or a form?
The Info ACAIQ Information Center has observed a lack of consistency among licence holders in the way the paper versions of completed and signed contracts, transaction proposals or forms are remitted to the parties concerned. In residential real estate, omitting to give a duplicate of the brokerage contract to sell or to purchase to the client can lead to serious repercussions, as we will discuss below.
The Regulation respecting brokerage requirements, professional conduct of brokers and advertising (hereafter “the Regulation”) states that a broker or agency executive officer must take steps, in accordance with accepted practice, to learn of any factors that may adversely affect the party represented by them or the agency for which they act, the parties to the transaction or the very object of the transaction.
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.
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.
When seeing a sign "House for Sale by Owner", you start up a conversation with the owner and suggest that he deal with you to sell his house. Then the owner answers you: "There's no way I'm signing a brokerage contract, but if you find me a buyer, I'll give you a little something." Not to worry you think, and off you go in search of a buyer, evidently unaware that this could turn out to be a very costly proposition.
When a real estate agency’s licence is suspended or revoked, many questions arise concerning the right to remuneration and the method of payment, both for the agency itself and for its brokers. We remind you that when the licence of a real estate agency is suspended or revoked, the licences of all the brokers carrying out their activities within this agency are also suspended.
When an existing or planned residential immovable is sold by the builder or a developer to a natural person who acquires it to occupy it, the Civil Code of Québec requires that the sale be preceded by a preliminary contract in which the person promises to purchase the immovable. This type of contract must be used regardless of whether a real estate broker is involved in the transaction as intermediary.
Determining the square footage of an immovable: certificate of location, cadastral plan or acquisition title?
Depending on the circumstances, the certificate of location, the cadastral plan or the acquisition title will be used to determine the square footage of an immovable. To know which should be used, a broker must first verify whether or not the immovable was covered by the cadastral renovation. A renovated lot will have a single seven-digit number.