How to protect your real estate transactions

For many people, buying or selling a home entails the largest transaction they’ll make in their lifetime. For that reason, it can be a stressful experience, even when things go smoothly. That’s why it’s crucial to have an understanding of the resources available throughout the process of purchasing, selling, leasing or financing a property. That’s where the Organisme d’autoréglementation du courtage immobilier du Québec (OACIQ) comes in.

How the OACIQ helps

The Quebec Government mandates the OACIQ to protect the public by rigorously enforcing the Real Estate Brokerage Act. The OACIQ acts as a valuable resource for consumers when they buy, sell, lease, or finance a property with a professional authorized by the organization, such as a mortgage or real estate broker.

The purchase or sale of a property is a complex process with many factors that must be taken into account. The aim of the OACIQ is to make sure that theReal Estate Brokerage Act is respected at every step of the transaction and that consumers know when and how it can be applied.

Info OACIQ agents can answer various questions about real estate and mortgages.

Info OACIQ customer service agents can answer various questions about real estate and mortgages.

What the Real Estate Brokerage Act is

This Act and its regulations govern the real estate and mortgage brokerage practice in Québec. It provides for a number of mechanisms to protect consumers throughout a transaction such as Info OACIQ, Assistance Department, Discipline Committee, Real Estate Indemnity Fund (FICI), and the Fonds d’assurance responsabilité professionnelle du courtage immobilier du Québec (FARCIQ).

The Act provides the OACIQ with a range of tools to help protect consumers before, during and after their transaction. For instance, through the Assistance Department of the OACIQ, consumers can file a complaint if they have doubts or face challenges throughout their transaction. OACIQ analysts will review the request or complaint, and decide on a course of action. For example, if the investigation of a particular complaint reveals that a broker is lacking certain proficiencies, he or she could be required to undergo additional training.

A real estate transaction can be a complex process, so it’s best to be informed.

A real estate transaction can be a complex process, so it’s best to be informed.

Advocating for the public

The OACIQ is there to address a variety of issues throughout the process of buying, selling, financing or leasing a property.

“Our Info OACIQ customer service agents are available to answer all kinds of questions about a real estate or mortgage transaction. If you have questions about the way your broker works, or you feel you haven’t received sufficient guidance from your authorized professional, our customer service agents are prepared to help guide you through any situation.

For any questions or information don't hesitate to contact:  Robert Clark real estate broker      Century 21 UNIC. (514) 660-1678