The agency executive officer, a key resource to be more acquainted with
When you deal with a broker, it is very likely that he is acting on behalf of an agency, which means that he has an agency executive officer. However, did you know: this executive officer’s role is essential for the protection of your interests!
He is an experienced broker who completed additional training, passed an exam and is required to complete a specific continuing education program. He serves as a model and a reference for both his brokers and staff.
Even if the broker is a self-employed entrepreneur, the agency executive officer is responsible for ensuring that the agency brokers meet their duties and obligations set out in the Real Estate Brokerage Act and its regulations. To play this important role effectively, the OACIQ launched a program in 2017 to empower agency executive officers in this regard.
More specifically, to ensure that your interests are protected, the agency executive officer is particularly responsible for overseeing the activities of agency brokers:
- By advising them, where necessary, on the different steps of transactions and drafting of forms, by providing feedback and proposing corrective measures as needed;
- By ensuring compliance with procedures and obligations relating to advertising, disclosure of any conflict of interest, protection of personal information, collaboration between brokers, keeping of records and registers, or trust account management;
- By supervising the updating of brokers’ skills;
- By applying a complaint handling process;
- By ensuring that brokers take the necessary measures when they are absent so that the communications and follow-ups on client files can be carried out during this period.
If you experience a problem with your broker, for example when changing the broker assigned to your transaction, you may call upon his agency executive officer. The agents of the information centre Info OACIQ are also there to answer your calls.
Your broker is acting on his own account? He is also required to comply with the best practices related to verification, advice, keeping and follow-up on files, etc. If there is a problem, you can talk to him or contact Info OACIQ.