With a real estate broker, you are well protected!

Doing business with a real estate broker ensures that you are protected by the law. In fact, the Real Estate Brokerage Act and various organizations govern the profession of real estate broker so that consumers are served fairly and competently. You are thus assured of being served by a highly qualified and well-supervised professional.

Real Estate Brokerage Act
The main objective of the Real Estate Brokerage Act is to protect the public. To do this, it provides certain rules relating to the brokerage contract binding the broker and the client who wishes to sell his property. These rules are analogous to certain rules in the Consumer Protection Act.

Quebec Real Estate Brokerage Self-Regulatory Organization
Created by the Real Estate Brokerage Act, the Organisme d'autoréglementation du courtage immobilier du Québec (OACIQ) has the mission of protecting the public by overseeing the practice of all real estate professionals. She is responsible for administering the exam that leads to obtaining a certificate of practice, and ensures that brokers pursue their activities in accordance with the law and regulations in force. 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 the consumer in the event that a problem arises in the context of a real estate transaction, whether it is fraud, dishonest transaction or embezzlement. or goods. To learn more, visit www.compensation.org.

Professional liability insurance
The professional liability insurance that real estate brokers must subscribe to provides additional financial protection to consumers in the event of fault, error, negligence or omission. This insurance covers claims of a civil nature and civil suits.

SOURCE: CENTRIS.CA