FAQ

Informations about the broker

How can I check the validity of a licence?

To find out whether your broker’s licence is valid, visit the “Check a broker’s record” section on the OACIQ website.

How can I make sure the real estate broker representing me is insured?

All Quebec real estate brokers and agencies  licensed by the OACIQ are insured by the professional liability insurance of the Insurance Fund  (FARCIQ). Subscription to this insurance is mandatory for all agencies and brokers. To find out whether your broker’s licence is valid, visit the “Check a broker’s record” section on the OACIQ website.

 

Compensation

What shall I do if I believe that a broker or agency has committed an error and if I want to be compensated?

We suggest that you first discuss the issue with the broker or agency. If you are dissatisfied with the results of this first step, please go to the “Claims” section  for the steps to be taken.

Which claims are covered by the Insurance Fund (FARCIQ) or by the OACIQ Indemnity Fund?

The roles of the Insurance Fund (FARCIQ) and the OACIQ are very different. Therefore, the place to contact will depend on the type of situation you are facing.

The OACIQ Real Estate Indemnity Fund offers free protection to consumers who deal with a broker or agency and who are victims of fraud, fraudulent tactics or misappropriation of funds in the course of a transaction.

FARCIQ is responsible, among other things, for compensating consumers for the loss resulting from the fault, error or omission of a real estate broker or agency, where their professional liability is demonstrated.

 

For more information on other OACIQ resources or to resolve a problem, please visit the OACIQ’s website.