By enforcing the Real Estate Brokerage Act, the OACIQ may conduct an inspection to oversee broker and agency activities by auditing, among other things, their records, accounts, books and registers or those of the business corporation in which they carry out their activities, if applicable.1
Therefore, a person having custody, possession or control of the books, registers, accounts, records and other documents relating to the activities of the broker or agency must, on request, make them available to the person conducting the inspection and facilitate their examination, regardless of the storage medium and the means by which they may be accessed.2
WHY A GUIDELINE?
This is an interpretation of the law, a reference tool to support your decisions, including in matters of compliance. This guideline simplifies the legislative and regulatory framework of real estate brokerage. It clarifies the OACIQ’s expectations and sets out proper practices to ensure licensee compliance. It will help real estate agencies and their executive officers to develop a comprehensive and effective compliance program.
How to naviguate in this tool?
► Click on the different themes presented below.
In each you will find the relevant sections of the Real Estate Brokerage Act, as well as several concrete scenarios that will provide you with reliable tools to successfully complete your transactions in compliance with your obligations.
This is an evolving tool, so make sure to bookmark this page and return to it often!
1 Section 74 of the Real Estate Brokerage Act
2 Section 78, paragraph 2, of the Real Estate Brokerage Act
