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With a Real Estate Broker, You Are Well Protected!

Doing business with a real estate broker ensures that you are protected by law. Indeed, the Real Estate Brokerage Act and various organizations govern the profession of real estate broker so that consumers are served in a fair and competent manner. This gives you the assurance of being served by a highly qualified and well-supervised professional.

Real Estate Brokerage Act

The primary objective of the Real Estate Brokerage Act is to protect the public. To this end, it sets out certain rules relating to the brokerage contract linking the broker and the client who wishes to sell their property. These rules are analogous to certain rules of the Consumer Protection Act.

Quebec Real Estate Brokerage Self-Regulating Authority

Created by the Real Estate Brokerage Act, the Quebec Real Estate Brokerage Self-Regulating Authority (OACIQ) has the mission to protect the public by overseeing the practice of all real estate professionals. It is responsible for administering the exam leading to the issuance of a practice certificate and ensures that brokers comply with the law and current regulations. To learn more, 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 power to compensate the consumer in the event of a problem during a real estate transaction, whether it is fraud, dishonest operation, or embezzlement of funds or property. To learn more, visit www.oaciq.com.

Professional Liability Insurance

The professional liability insurance that real estate brokers must subscribe to offers additional financial protection to 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

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