Identity verification and protection of personal information

Real estate brokers, whether working in residential or commercial brokerage, must verify the identity of both represented and unrepresented parties in a transaction—whether for sale, purchase, or lease. This verification includes the signatories of brokerage contracts and promises to purchase, whether acting on their own behalf or as representatives of a succession, company, or institution. Brokers must also verify the identity of non-owner spouses who must be involved in real estate transactions.

Ideally, identity verification should be done in person, using an authentic, valid, and current government-issued document chosen by the party, such as a driver’s license, health insurance card, or passport.  identity verification can also be done remotely using an authenticated digital version. Merely seeing a person with their government-issued photo ID in a video chat or other virtual application is not sufficient in itself. However, this session could serve to verify whether the name and appearance of the person providing the identity document match the authenticated digital version received. 

For legal entities, it is essential to verify both the identity of the natural person authorized to sign on their behalf and their existence using the methods defined by FINTRAC.

If unable to meet the party in person for secure identification, real estate brokers must keep all evidence used for identity verification on record, in accordance with OACIQ guidelines and applicable laws regarding personal information protection and document retention. If the real estate broker has conducted the verification in person, they must not retain a photocopy of the identity document used but should document the relevant information in their records or in the brokerage form, if applicable.