Selling price: Respect your ethical obligations

The OACIQ would like to point out that brokers must remain vigilant regarding the practices of certain lenders. In fact, these could lead them to violate their ethical obligations.

Real estate brokers must ensure that the selling price appearing on transaction documents and forms is the real price agreed upon between the seller and the buyer for the property. This selling price must not be artificially inflated to include in the amount lent the financing of the down payment, the financial fees charged by a lender or the amount that the seller promises to give the buyer in the form of a rebate after the signing of the notarial deed.  Such a practice is prohibited and can be regarded as an artificial inflation of the price.

Brokers who help implement such a scheme will be subject to disciplinary action.

On the one hand, brokers must not advise or encourage a party to a transaction to commit any illegal or fraudulent act. On the other hand, they must not commit acts that are derogatory to the honour and dignity of the profession.