| In force since June 10, 2022, the amendments to the Real Estate Brokerage Act (REBA) provide better protection for the public by clarifying the business relationship between real estate brokers and their clients. Among other things, they prohibit double representation and verbal brokerage contracts in residential real estate transactions in Québec. Learn more |
Overview of the Real Estate Brokerage Act and its protection
What does it mean to be REPRESENTED by a real estate broker?
A broker who represents you will advise you based on your needs and interests in the context of marketing and negotiation, in addition to protecting your strategic and confidential information.
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In order for your broker to represent your interests, you must have a WRITTEN AND SIGNED brokerage contract with him. ATTENTION: VERBAL AGREEMENTS ARE NOT VALID SINCE JUNE 10, 2022. |
Click here to learn more about the Organisme d'autoréglementation du courtage immobilier du Québec, which oversees brokers and protects the public.
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What is the role of your real estate broker and what are his obligations?
Note that the broker's ethical duties and obligations aim to protect your interests in a transaction.
► AMONG OTHER THINGS, YOUR BROKER MUST:
Promote your interests and protect your rights, while acting fairly towards all parties to a real estate transaction.
Advise and inform you objectively.
Make the necessary verifications to be able to demonstrate the accuracy of the information he gives you, and provide all related documentation.
Always act with utmost transparency and integrity and keep all parties to the transaction informed of any factors that could affect the transaction.
Protect your personal and strategic information.
Avoid placing himself in a conflict of interest.
Take mandatory continuing education courses to maintain a high level of professionalism.
Choosing to do business with a licence holder to buy, sell or lease a property is to enlist the services of a broker who is duly authorized to act by the OACIQ!
How does the act protect you?
In accordance with the Real Estate Brokerage Act, the OACIQ has put in place many tools to protect you, including:
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The Public Assistance Department and the Syndic's Office, which analyze complaints and recommend actions to be taken in case an ethical offence is committed by an OACIQ licensee. |
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The Discipline Committee has the power to impose disciplinary sanctions. |
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The Fonds d’assurance responsabilité professionnelle du courtage immobilier du Québec in case of fault, error or omission in the course of a transaction. |
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The Fonds d’indemnisation du courtage immobilier can compensate you in case of fraud, dishonest tactics or misappropriation of funds by a broker or agency. |
In a nutshell, the aim of the measures, contained in the Act and its regulations and enforced by the OACIQ, is to ensure a worry-free transaction.
Got a question?
Do not hesitate to contact the information centre Info OACIQ. An information agent will be able to inform you about the duties and obligations of your broker and direct you to the appropriate resources, if applicable.
You may also check all protection mechanisms made available to you in accordance with the Real Estate Brokerage Act.
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Good to know The majority of real estate transactions go off without a hitch. However, by informing us of any problem encountered during your transaction, you contribute to the protection of the public and allow the OACIQ to oversee real estate brokerage. Note that a broker's violation of ethical rules does not automatically result in monetary compensation for consumers. Unlike the civil courts, the Act does not give the Discipline Committee the power to compensate the public. |
OACIQ forms designed to ensure your protection!
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