Annual Report 2016: Practical measures that benefit the public
We are pleased to present you with the OACIQ annual report that was tabled in the Québec National Assembly by the Minister of Finance. Our determination to improve our Organization’s efficiency and performance was evident throughout 2016, and every effort was made to accomplish our public protection mission.
Over the past year, we revamped our website and changed its information to make it easier for the public to access it. We also reviewed accessibility to Info OACIQ and Public Assistance Department, thus ensuring better support to people seeking help from the Organization. In concrete terms, 54,484 inquiries were received by Info OACIQ and 1,915 requests for assistance by the Public Assistance Department. Concerning indemnity, 70 files were opened, 65 claims were processed and 40% of these claims were approved. A total of $363,401 was paid in indemnities.
Moreover, the OACIQ has ensured the competence of real estate and mortgage brokers through the basic training and the Mandatory Continuing Education Program (MCEP). We also enforced the Real Estate Brokerage Act properly through a set of prevention and oversight activities, such as improving our inspection and complaint handling procedures. For this purpose, 2,639 inspections of brokers and agencies were conducted, 1,625 self-inspection questionnaires were completed and analyzed, 546 investigations opened by the Office of the Syndic and 162 investigations of illegal brokerage were opened.
The OACIQ is the regulator of real estate and mortgage brokerage in Québec. It ensures compliance with the Real Estate Brokerage Act by overseeing more than 15,000 real estate and mortgage agencies and brokers in Québec.
For more information about the actions taken by the OACIQ over the past year, please read the annual report.