With a real estate broker, you are well protected!

Working with a real estate broker ensures that you are protected by law. In fact, the Real Estate Brokerage Act and various organizations govern the real estate broker profession so that consumers are served fairly and competently. This gives you the assurance of being served by a highly qualified and well-regulated professional.

Real Estate Brokerage Act

The primary goal of the Real Estate Brokerage Act is to protect the public. To do so, it establishes certain rules regarding the brokerage contract between the broker and the client who wishes to sell their property. These rules are similar to some of the rules found in the Consumer Protection Act.

Québec’s Real Estate Brokerage Self-Regulating Organization

Created by the Real Estate Brokerage Act, Québec's Real Estate Brokerage Self-Regulating Organization (OACIQ) has the mission to protect the public by overseeing the practice of all real estate professionals. It is responsible for administering the exam that leads to obtaining a practice certificate and ensures that brokers continue their activities in accordance with the law and the regulations in force. For more information, visit www.oaciq.com.

Real Estate Brokerage Indemnity Fund

Every real estate broker contributes to the Real Estate Brokerage Indemnity Fund. The Fund has the authority to compensate consumers in the event that a problem arises during a real estate transaction, whether it is fraud, dishonest dealings, or misappropriation of funds or property. For more information, visit www.oaciq.com.

Professional liability insurance

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

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