1-866-956-5959 assurance@farciq.com
Informations about the broker

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

All real estate and mortgage brokers practicing in Quebec and holding an OACIQ license are protected by the professional liability insurance of the Fonds d’assurance (FARCIQ). All brokers and brokerage firms must contract this insurance. You are thus always sure to deal with a broker who is able to face the financial consequences that may stem from his/her involuntary errors or omissions.For more information on the validity of your broker’s license, please consult the OACIQ (Organisme d’autoréglementation du courtage immobilier du Québec) website. Organisme d’autoréglementation du courtage immobilier du Québec


What do I do if I think a broker or brokerage firm has made a mistake or if I want to be compensated?

We suggest that you first discuss the issue with the broker or firm. If you are dissatisfied with the results of this first approach, please refer to the section “Transmission of a Written Notice to the Broker” presented under the Claims tab, to send him/her a formal request. This notice can also be sent to the FARCIQ as a carbon copy.You can refer to a legal counsellor of your choice at any time in order to obtain information on the extent of your rights. You can also write directly to the Fonds d’assurance (FARCIQ) to warn them of your claim.

Refer to the Claims section


What is a claim?

The word “claim” has a very broad meaning in the context of insurance policy. It can be a verbal or written request, a simple allegation or any fact or consequence likely to lead to a request for financial compensation.

Which claims are covered by the Fonds d’assurance (FARCIQ) vs those covered by the OACIQ Indemnity Fund?

The roles of the Fonds d’assurance (FARCIQ) and the OACIQ are very different. So the resource to contact will depend on the type of claim you are facing.

  • The FARCIQ is in charge of operating the professional liability insurance and provides protection for the holder of a licence issued by the OACIQ, in case of fault, error or omission that could be committed in the performance of its professional activities and could compensate the consumer for financial losses suffered
  • The OACIQ Indemnity Fund namely has the power to compensate consumers who have been victims of fraud, fraudulent tactics or misappropriation of funds by brokers or brokerage firms. For more information, please visit the OACIQ (Organisme d’autoréglementation du courtage immobilier du Québec) website under the Real Estate Indemnity Fund tab. Organisme d’autoréglementation du courtage immobilier du Québec

What are the steps for treating a claim?

1st step: Discussion with the broker or firmIf you feel you have been subjected to damages as part of a brokerage activity, you should discuss the issue with the broker or brokerage firm first. If you are dissatisfied with the results of this approach, you may pursue with a written notice.

2nd step : Transmission of a written notice to broker and/or firm

As a client, if you wish to present a formal claim seeking to obtain financial compensation from an OACIQ license-holding broker, you must do so via a written notice to the broker and/or firm. Remember to provide the following information:

  • Your contact information (name, address, telephone, etc.);
  • The name of the broker or firm targeted by the claim;
  • The contact information of the building targeted by the transaction, the case being;
  • A description of the fault attributed;
  • A description of the damages suffered;
  • Details on the amounts claimed;
  • All other documents deemed relevant (e.g. brokerage contract, fact sheet, etc.).

3rd step: Investigation and analysis

The broker and/or brokerage firm will transmit your notice and the relevant documents to the Claims Department of the Fonds d’assurance (FARCIQ). After having examined the eligibility of the complaint, the Department will conduct a file analysis and investigation.

4th step : Decision

Once the investigation and analysis have been completed, the Fonds d’assurance (FARCIQ) will communicate with you or your representative to share its decision.