Designed for licensees and made available for public information, some of the hyperlinks in this guideline are not publicly available.

2. The protections of the Real Estate Brokerage Act and the role of the OACIQ

The real estate agency's internal complaint management policy must require real estate brokers to explain to their clients the protections offered to them under the Real Estate Brokerage Act, as well as the regulatory role of the OACIQ.

The Real Estate Brokerage Act provides many tools and mechanisms should consumers encounter an obstacle during a real estate transaction carried out with the help of a broker. Many tools have been implemented by the OACIQ to protect them and they need to be aware of their existence to reassure them:

It’s in everyone's interest to have a better understanding of the role of the OACIQ in a real estate transaction and the protections available to consumers. The oaciq.com/knowitall page contains important information for consumers who, by visiting it, will:

  • learn about the existence of the Real Estate Brokerage Act;
  • understand that the OACIQ is the organization responsible for enforcing it;
  • know how they are protected when they use the services of a broker to carry out their real estate transaction;
  • be aware of the various mechanisms used by the OACIQ to oversee real estate brokerage.

 

Last updated on: September 30, 2022
Numéro d'article: 208898