With a Broker, You Are Protected

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With a Real Estate Broker, You Are Well Protected!

Working with a real estate broker ensures that you are protected by law. The Real Estate Brokerage Act and various organizations regulate the profession of real estate broker to ensure that consumers are served fairly and competently. You are assured of being served by a highly qualified and well-regulated professional.

Real Estate Brokerage Act

The Real Estate Brokerage Act’s primary objective is to protect the public. To achieve this, it establishes certain rules regarding the brokerage contract between the broker and the client wishing to sell their property. These rules are similar to certain rules in the Consumer Protection Act.

Quebec Real Estate Brokerage Regulatory Authority

Created by the Real Estate Brokerage Act, the Quebec Real Estate Brokerage Regulatory Authority (OACIQ) aims to protect the public by overseeing the practice of all real estate professionals. It administers the exam leading to the issuance of a practice certificate and ensures that brokers operate in accordance with the law and regulations. To learn more, visit www.oaciq.com ↗.

Real Estate Brokerage Compensation Fund

Each real estate broker contributes to the Real Estate Brokerage Compensation Fund. The Fund has the power to compensate consumers in the event of a problem occurring during a real estate transaction, such as fraud, dishonest operations, or misappropriation of funds or property. To learn more, visit www.oaciq.com ↗.

Professional Liability Insurance

The professional liability insurance that real estate brokers must have provides additional financial protection to consumers in the case of fault, error, negligence, or omission. This insurance covers civil claims and civil lawsuits.

Source: http://www.centris.ca/fr/pour-acheteurs?article=avec-un-courtier-immobilier-vous-etes-bien-protege ↗