Public articles
Remuneration payable by the buyer: Exclusive brokerage contract – Purchase
When entering into a brokerage contract to purchase, the client can negotiate the rate or percentage of remuneration to be paid to the broker. This remuneration, often referred to as a “commission,” is not regulated by the Real Estate Brokerage Act or the OACIQ, or by any other law, but rather is determined by free competition.
New OACIQ promise to purchase forms in effect as of June 22, 2021
As part of the measures implemented to address the issues raised by the overheated housing market, the Ministry of Finance and the OACIQ have agreed to amend the promise to purchase forms to reinforce the messages pertaining to the risks of waiving a pre-purchase inspection.
Broker’s duty to disclose: An added protection
The real estate broker has the obligation to inform the parties engaged in a transaction of any known factor that may adversely affect buyers or sellers or the very object of transaction.
Properties located on former landfill sites: clarifications by the OACIQ
Following a report on the program La Facture on September 18, 2018, the OACIQ would like to make the following clarifications.
Very low offer price: The obligations of brokers involved
When selling a property, it may happen that a buyer wishes to make a very low offer. Here are the duties of brokers involved in three common situations.
Importance of an up-to-date certificate of location
Whether you are selling or buying a home, the certificate of location is a document that will provide you with very useful information.
Tips for a successful open house
An open house will soon be held in the property you wish to sell? Your broker will help you before and during the event.
Five things your broker must do or say
Doing business with a Québec real estate broker is to be assured that your transaction is protected.
Selling a property with a heat pump: Watch out for drafts
When a brokerage contract is signed, the broker may note that the property has a heating or air conditioning unit installed, a heat pump for instance. This type of unit has often been purchased by the owner under an instalment sale contract with a merchant. What are the ramifications for the broker when selling an immovable with a heat pump?
Are you preoccupied by the occupancy date?
Clause 11.2 of the Promise to purchase specified the date at which the selling owner agrees to make the premises available to the new buyer. Sometimes the buyer wishes to occupy the premises before the date of signing of the act of sale. The OACIQ strongly advises against this practice since there are major risks involved for the seller in granting such a right to the buyer.
Disclosure of a suicide: the Superior Court confirms the usefulness of the declarations by the seller
On November 21, 2013, the Superior Court determined, in Fortin c. Mercier(1) judgment, that the seller of an immovable had the obligation to inform buyers that a violent death had occurred therein.
Exercising servitude rights when using the distribution grid
During a real estate transaction, real estate brokers often have to deal with cases of non-compliance with the obligations or rights contained in Acts of Servitude. Infringement of a servitude may delay the finalization of a transaction, and often causes problems between the seller, buyer and creditor. Hydro-Québec regrets having to do so, however, as the owner of a distribution network, it must assume its obligations and responsibilities.
Notice to the Land Register in case of land contamination
The Environment Quality Act (''the Act'') establishes rules regarding land protection and rehabilitation in case of contamination. It is supplemented by the Land Protection and Rehabilitation Regulation, whose purpose includes setting out the types of industrial or commercial activities that require a particular treatment and establishing contamination limit values beyond which rehabilitation measures must be undertaken.
Abiding by the Act respecting Tourist Accommodation Establishments
In the course of their activities, some licence holders act as intermediaries for the short-term rental of cottages, houses or apartments. Considering their duty to verify, inform and advise, these brokers would be well-advised to know the ins and outs of the Act respecting Tourist Accommodation Establishments.
Factors that may affect the decision of a buyer
Any broker has the obligation to inform the parties engaged in a transaction of any known factor that may adversely affect buyers or sellers or the very object of transaction.
Existing inspection report: What is the proper procedure for the real estate broker?
The Regulation respecting brokerage requirements, professional conduct of brokers and advertising (hereafter “the Regulation”) states that a broker or agency executive officer must take steps, in accordance with accepted practice, to learn of any factors that may adversely affect the party represented by them or the agency for which they act, the parties to the transaction or the very object of the transaction.
Telephone solicitation rules
All real estate agencies and brokers who canvass using unverified telephone lists are subject to CRTC Rules.
“Residential” or “Commercial” Brokerage: Ethical obligations are the same for all
Some real estate brokers and agencies offer services in more than one field of practice, i.e. residential and commercial and therefore do not specialize only in commercial transactions.
Verifying right of ownership restrictions and consulting the online land register
Just as he must verify the features of an immovable, the real estate broker must know and verify the characteristics of the immovable’s right of ownership under private and public law.
The real estate broker acting as the client’s intermediary or mandatary
Under section 2 of the OACIQ’s Regulation respecting brokerage requirements, professional conduct of brokers and advertising (“the Regulation”), a broker must avoid placing himself in a conflict of interest.
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