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The OACIQ submitted a brief to the Government concerning the future of real estate brokerage and public protection
Brossard (Québec), October 1, 2015 – The Organisme d’autoréglementation du courtage immobilier du Québec (OACIQ) has just tabled a brief in which it responds to two main issues raised by the Québec Ministry of Finance in a Report on the Application of the Real Estate Brokerage Act: self-regulation as a model of governance of the OACIQ, and the importance of protecting the public in any real estate and mortgage transaction. The OACIQ is concerned about certain directions that could be taken by the Ministry and their effects on public protection.
"As shown in the Organization's brief, the members of public need to know when they are protected in a real estate or mortgage transaction and when they are not", says Robert Nadeau, President and Chief Executive Officer of the OACIQ. "That's why we feel it is essential that the Ministry clarify what a brokerage act is."
Furthermore, the way the OACIQ plays its role–protecting the public by overseeing the activities of real estate and mortgage brokers–has proved its worth. "Brokers have never been as competent as they are now and, therefore, the public has never been as well protected as it is today. In short, the OACIQ succeeded in adapting its supervision to changing practices. This is why its governance model must remain", says Mr. Robert Nadeau.
The purchase of a property is an important part of the heritage of individuals, families and Québec companies. The decisions arising from the report shall therefore not be taken lightly. The OACIQ is confident in its ability to continue assisting consumers positively in their transactions, and would like to get from the government the tools it needs to continue its mission, since "public protection will always remain our common goal", concludes Mr. Nadeau.
About the OACIQ
The OACIQ's mission is to protect the public by overseeing the profession adequately and ensuring quality real estate and mortgage brokerage in Québec. For more information, visit oaciq.com.
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