Consequences for the broker who fails to meet his obligations

As a licence holder, you must ensure that you meet certain regulatory obligations to keep your record up to date. 

These obligations include the following:

• You must update your information every year. Remember that if any changes take place during the year, you must inform the OACIQ immediately;

• Pay your licence renewal fees every year;
   
• Every two years, you must complete the Mandatory Continuing Education Program (MCEP) by earning a specific number of continuing education units (CEUs). These activities may concern all or some of the brokers or agency executive officers. For more information about the MCEP, read this article;
   
• Every five years, you must change your licence photo on My record;
   
• After an undertaking, you may be required to complete a mandatory training course within a certain time period.

If you fail to comply with these obligations:

• Update your personal information within the specified period, your licence will be suspended;
• Pay your annual licence renewal fees, your licence will be revoked;
• Complete the Mandatory Continuing Education Program or a specific mandatory training course covering a specific topic prescribed by the Organization on time, your licence will be suspended;
• Update your photo within the specified period, your licence will be suspended;
• Complete a required training course within the specified period after an undertaking, your licence will be suspended.

From the date of your licence suspension or revocation, you and, if applicable, your business corporation will need to:

• Cease any brokerage activities immediately. Read this article for more details.

Examples of prohibited activities:

• Being on call
• Referring clients in exchange for remuneration
• Soliciting clients
• Making real estate advertising or representations
• Showing properties
• Qualifying clients
• Taking up brokerage contracts or having brokerage contracts in force
• Drafting or presenting promises to purchase
• Signing brokerage transaction documents
• Using OACIQ brokerage forms
• Attending a building inspection
• Going to the notary’s
• Providing after-sales service
• Using a broker’s title or leading others to believe that you hold a valid licence, for all real estate or leasing brokerage activities
• Etc.
  .
• Remove all advertising;
   
• If you are acting on behalf of an agency, immediately notify in writing the parties you represent that you are no longer authorized to act on their behalf and inform them of the name of the broker appointed to replace you. This notification must mention the parties’ right to continue doing business with your agency or to terminate the contract (more details in this article);
   
• If you are acting on your own account, immediately notify your clients of the automatic termination of your brokerage contracts.

To return to practice, you must:

• Declare whether you carried out any brokerage activities during your licence suspension or revocation period. If necessary, the syndic will be informed and may take any measures he deems appropriate;
   
• Certify that you have notified all your clients that you are no longer authorized to carry out the current brokerage contracts;
   
• If your licence is revoked, you must also:
  • Pay the applicable fees for reviewing your application and checking your criminal record (these fees are not refundable if the application is submitted to the Licence Issue and Maintenance Committee [LIMC] and the LIMC finally decides not to issue a licence), in addition to the chargeable fees and any other amount due to the OACIQ;
  • Complete and send the Application for issuance – Real estate broker licence form;
  • Undergo a new criminal record check if it has not been done in the last six months;
  • If you are operating within a business corporation, complete the Application for authorization to practise within a business corporation form and pay the related fees.

• If your licence is suspended, you must also:
  • Pay a fee of $400 to request the lifting of licence suspension (after failing to fulfil your obligations), plus any other amount due to the OACIQ;
  • Complete and send the Request for lifting of licence suspension – Real estate broker  – Real estate agency  – Natural person, including the Declarations section;
  • Show that the reason for the licence suspension no longer exists. For instance, you may have to:
     
    • Update your information by accessing the Statements section in My record on synbad.com;
    • Complete the MCEP, a specific mandatory training course covering a specific topic prescribed by the Organization, or a given training course after an undertaking;
    • Change your photo.
       
• Wait a few weeks for the Certification Department to review your application for a licence or for lifting a licence suspension.