What is a professional authorized by the OACIQ?

The OACIQ's mission is to protect the public by ensuring the application of the Real Estate Brokerage Act . This law determines the conditions for practicing the brokerage profession, in addition to ensuring you effective protection when you carry out a real estate transaction with the help of a broker. Choosing to do business with a real estate or mortgage broker to buy, sell, rent or finance a property therefore means using the services of a professional duly authorized to act by the OACIQ.

But not just anyone can become a broker! To act as a professional authorized by the OACIQ, you must comply with several conditions. The aspiring broker must:

• follow mandatory basic training accredited by the OACIQ;

• pass an entrance exam lasting approximately six hours, designed by the OACIQ;

• apply for a brokerage license. The brokerage license is, in a way, the OACIQ's seal of approval that certifies that the broker is competent and able to successfully complete your transaction.

Mandatory continuing education program The OACIQ's role does not stop there. Throughout their career, authorized professionals must follow a mandatory continuing education program in order to maintain and update their knowledge. You can access the list of training courses taken by your broker by consulting the Register of permit holders . If, for example, you want to buy a co-ownership and would like to use the services of a broker who specializes in this type of building, the register will be able to tell you if the broker has taken specific training courses on this subject.

Broker Supervision In accordance with its mission to protect the public, the OACIQ supervises the activities of brokers and ensures that they work properly, in compliance with their code of ethics and the Real Estate Brokerage Act . To this end, protection mechanisms have also been put in place, such as the disciplinary committee. The OACIQ regularly informs brokers about everything related to their professional practices and conducts annual inspections. These inspections allow, among other things, to validate that brokers are properly using the mandatory and recommended brokerage forms created by the OACIQ.

Why so many precautions? Buying or selling a property is often the most important transaction of your life. It is a complex process involving several factors that should not be overlooked. The OACIQ's goal is to protect the public and ensure that everything is done properly. It is by supervising brokers that the OACIQ ensures that your real estate or mortgage transaction takes place with complete peace of mind.

SOURCE: https://www.oaciq.com/fr/pages/quest-ce-quun-professionnel-autorise-par-loaciq