2020: Adapting at the core of our actions
Like most professional services, real estate brokerage has had to adapt to the pandemic. In addition to informing consumers and licensees about the health measures to be respected during real estate transactions, the OACIQ has continued to promote the protections offered by the Act, especially in the context of an overheated housing market.
It was also last year that the latest amendments to the Real Estate Brokerage Act came into force, including the transfer of mortgage brokerage oversight to the Autorité des marchés financiers.
Despite the exceptional circumstances in 2020, the OACIQ maintained its activities and pursued its public protection mission, as shown by the figures below.
The OACIQ's 2020 Annual Report is also available here.
The oaciq.com websiteOur website is full of information for anyone who has questions about his or her real estate transaction with a broker. No less than 1.5 million people visited the website in 2020, and over 72,000 people consulted the Buyer's Guide and Seller's Guide. |
20%
|
Information centre Info OACIQGot a question about real estate brokerage? Get an answer from Info OACIQ. In 2020, the satisfaction rate of consumers who contacted an agent was 98% for the third consecutive year. |
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Public Assistance DepartmentWhen someone wishes to file a complaint against an OACIQ licence holder, a claim to the Real Estate Indemnity Fund or to the Fonds d’assurance responsabilité professionnelle du courtage immobilier du Québec, the Public Assistance Department guides the plaintiff throughout the process. In 2020, the implementation of new processes for handling and prioritizing files resulted in 65% more files being closed than the previous year. Learn more about the Public Assistance Department |
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Training DepartmentTo ensure that the skills of real estate brokers and agency executive officers are up to date and in line with the changing real estate brokerage industry, the Training Department has implemented a Mandatory Continuing Education Program. Brokers must earn a specified number of continuing education units over a two-year period. In 2020, they had access to 462 training courses. |
134,000
|
|
The Training Department is also in charge of the examination sessions for candidates who have successfully completed a basic training program and wish to become brokers. Several adjustments were made to comply with health measures.
|
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Certification DepartmentWhen a candidate passes the OACIQ certification exam, he or she will apply for a licence to the Certification Department. This department also has the mandate to suspend, revoke or modify the licences of real estate brokers and agencies. As at December 31, 2020, holders of a valid OACIQ licence numbered 15,675. |
1,805
|
Inspection DepartmentThe Inspection Department audits licensees' transaction records, accounts, books, and registers to ensure that they are complying with their ethical obligations and that they are acting in accordance with the Real Estate Brokerage Act and its regulations. |
1,989
|
Discipline CommitteeThe Discipline Committee reviews all complaints made by the Syndic against OACIQ licence holders for violations to the Real Estate Brokerage Act and its regulations. It renders decisions on licensees’ guilt and may impose penalties, which can include licence suspensions and fines. In 2020, the Syndic filed 144 complaints with the Discipline Committee. To learn more about the Discipline Committee |
234
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SyndicThe Syndic conducts investigations to determine whether or not to file a complaint with the OACIQ Discipline Committee when a violation to the Real Estate Brokerage Act or its regulations has been committed. Considerable efforts have been made in 2020 to speed up the handling of investigations. These efforts resulted in a 192% increase in the number of completed investigations. |
1,033
|
The Fonds d'assurance responsabilité professionnelle du courtage immobilier du Québec (FARCIQ)
|
661
|
Real Estate Indemnity Fund (FICI)This Fund offers protection to consumers who are victims of fraud, fraudulent (dishonest) tactics or misappropriation of funds committed by a real estate broker. The Indemnity Committee is responsible for deciding on the eligibility of your claim. In 2020, 8 indemnity claims were approved, for a total amount of $130,405. |
34
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