Renew my acquired rights, or return to practice

Acquired rights allow you to suspend your real estate brokerage activities for a maximum period of 12 months at a time, without having to retake a basic training program or pass the OACIQ certification examination again.

• During the first year following your licence revocation, you benefit from acquired rights at no cost
• During the revocation period with acquired rights, you may return to practice by filing a new licence issuance application
• Access to Brokers' Area will be maintained and you will continue to receive communications from the OACIQ during the revocation period with acquired rights. This will enable you to complete the training activities required under the Mandatory Continuing Education Program (MCEP) via the Professional Development Portal
• Before your rights expire, you must either extend this period for another year or submit a licence application. If you fail to act before the deadline, i.e. 12 months after your licence revocation, your acquired rights will be lost. You will then have to complete a recognized basic training program and pass the OACIQ certification exam to get a new licence

You may renew your acquired rights in one of the following ways:

• Online via Brokers' Area, or
• By email by sending the “Application for the maintenance of acquired rights” before the deadline, i.e. 12 months after your licence revocation
• To renew your acquired rights, you must meet all regulatory obligations to keep your file up to date, pay any amount due to the OACIQ, or complete any training imposed as a result of an undertaking
• You must pay the fees, which vary depending on the month in which you renew your acquired rights. It is advisable to do so in April to benefit from the best rates

For example,

• If your deadline is in June, apply in April
• If your deadline is in January and you wish maintain your acquired rights for another year, make a second payment in April, instead of waiting until the following January

Receipt

The receipt is available in the Brokers’ Area, in the Receipts and invoices section. It will be deposited there within 48 hours after the payment.

If your deadline is April 30, it is best to submit your application as early as possible in the month to avoid traffic on the systems and to ensure that your application is processed on time. This is the annual peak period for the licence renewal at the OACIQ.

To return to practice, you must:

• Complete and submit the Application for issuance of a licence, along with the required fees.  The fees vary depending on the month in which the real estate broker resumes his activities. See the “Becoming a broker” section in this article for more details
• If you wish to operate within a business corporation, complete and submit the form Application for authorization to practice within a business corporation, along with the applicable fees.
• Complete the Mandatory Continuing Education Program (MCEP)