Real Estate Talk: The OACIQ
What the Organisme d’autoréglementation du courtage immobilier du Quebec is and what it can do for you
By Joseph Marovitch
Updated May 22, 2025
Whether by an honest mistake or oversight or by wilful dishonesty, issues in a real estate transaction can be costly for both buyers and sellers, therefore, we have the Organisme d’autoréglementation du courtage immobilier du Quebec (OACIQ) to oversee broker activity and to protect the public.
The following are examples of what can be costly mistakes:
- You sold your home without warranty, or so you thought. You inherited the house from your aunt, who passed away. Your aunt lived in the house for sixty years, and she was 92 when she passed. So, you inherit the house and decide to sell it. However, you don’t know what condition the house is in, and you don’t believe your 92-year-old aunt kept it up to date.
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You rightfully decide to sell the house without warranty. The broker states in the listing that the house is being sold without legal warranty. You receive an offer you are willing to accept. Signing takes place, and the house is sold.
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A month later, the buyer calls you to say there is a crack in the fireplace lining, which allows smoke to enter the house, and they want you to repair the problem or compensate the buyer so they can repair the problem. You say, “Hold on a second. I sold the house without warranty. It is not my problem”.
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Guess again! The deed of sale does not indicate that the house is sold without warranty because the notary was not made aware to place such a clause. The notary was not aware because the broker did not ensure that the “Sold Without Legal Warranty” clause was indicated in the promise to purchase, counter offer or any of the amendments which he/she should have done so.
. - You’re selling your house, and the broker tells a prospective buyer that his client has already purchased another home and must move in soon. With this information, the buyer comes with a lowball offer, knowing the seller is under pressure. The broker must keep all information received from their client confidential.
In the previous two cases, the seller lost money through no fault of their own but rather due to the negligence of their broker.
Most brokers are ethical, lawful and knowledgeable. However, like in everything else in the world, there is human error, fraud, negligence, criminal negligence, and the list goes on.
There are hundreds of real estate agencies, and there are thousands of real estate brokers. Most, we assume, are ethical, lawful and knowledgeable and will do everything in their power to serve and protect your interests. However, like everything else in the world, there is human error, fraud, negligence, criminal negligence, and the list goes on.
When you have a problem with a broker and you feel you were not treated properly or your best interest was not their best interest, and, therefore, you lost money or a sale or purchase, there is an organization you can call that will help.
The OACIQ (Organisme d’autoréglementation du courtage immobilier du Québec) is the organization mandated by the Quebec Government to regulate and enforce the Real Estate Brokerage Act. In effect, the OACIQ oversees the actions of all real estate brokers to protect the public.
Six steps of the OACIQ assist and assure your protection:
Info OACIQ
This is your first point of contact before, during, or after an issue has taken place. Info OACIQ will direct you to the appropriate department, depending on the issue.
The office is open Monday, Tuesday, Thursday and Friday from 9 am to 4 pm.
On Wednesdays, the office is open from 10 am to 4 pm.
They may be reached at info@oaciq.com or 450 462-9800 / 1-800-440-7170
‘The OACIQ (Organisme d’autoréglementation du courtage immobilier du Quebec) is the organization mandated by the Quebec Government to regulate and enforce the Real Estate Brokerage Act.’
Assistance Department (AD)
The Assistance Department allows you to report any problem involving a real estate broker. The AD may settle the dispute or call upon other resources depending on the severity of the issue.
Syndic
The Syndic investigates violations of the real estate brokerage act by brokers or agencies. If there is evidence of an ethical violation, the Syndic will file a complaint with the Discipline Committee.
Discipline Committee
Upon investigation, the Discipline Committee has the authority to implement penalties such as fines, insist that the broker take specific courses, or remove the broker’s licence.
Real Estate Indemnity Fund (FICI)
The FICI provides financial compensation to consumers who are victims of fraud, dishonest behaviour or misappropriation of funds.
FARCIQ
The FARCIQ provides financial compensation to consumers who are victims of unintentional fault, error, negligence or omission
When considering a broker, it is a good idea to check the broker’s record to see if they have ever been disciplined by the OACIQ. Go to oaciq.com/en and click at the top of the page on the link “Check a Broker’s Record”.
Should you desire further information on the OACIQ, go to oaciq.com
‘When considering a broker, it is a good idea to check the broker’s record to see if they have ever been disciplined by the OACIQ.’
Should you have questions or comments, please refer to the comments section at the bottom of the page. As well, to view past articles, click here.
Next article: Real estate brokers – No results if no trust
State of the market
The current Canadian inflation rate is 1.7%. The current Bank of Canada interest rate is 2.75%. The Bank rate is at 3%. Yet banks are charging 4.34% on five-year terms, and rates appear to be rising.
The U.S. has already applied 25% tariffs on most Canadian goods, and Canada has reciprocated with its own tariffs. Despite the tariffs, the inflation rate is decreasing. This would be due to Canadians not purchasing U.S. goods and instead increasing trade with other countries.
‘… while the rest of Canada is experiencing slower real estate markets, Montreal’s market appears to be moving forward. The market is still slower than in the past, but sales are taking place, and prices appear to be increasing.’
When inflation decreases, interest rates tend to decrease as well. However, this does not appear to be the case. The answer may be that Canadian banks are still anticipating fallout from the trade war, as many buyers and sellers are doing by waiting to see before entering the market.
Whatever the case may be, while the rest of Canada is experiencing slower real estate markets, Montreal’s market appears to be moving forward. The market is still slower than in the past, but sales are taking place, and prices appear to be increasing. This is partly due to Montreal prices, rising as they are, but they are still lower than Toronto, Vancouver and other provinces. Another factor is smart brokers and sellers, with our comparatively lower values than the rest of Canada, are using a strategy to sell property and not just taking the average price of property and applying it to their property for sale.
These commentaries are a summary. For further discussion, feel free to contact me through the comment section at the bottom of the article or look me up on LinkedIn.
Have a great week!
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Other articles by Joseph Marovitch
Joseph Marovitch has worked in the service industry for over 30 years. His first career was working with families from Westmount and surrounding areas, hosting children between the ages of 6 to 16 as the owner and director of Camp Maromac, a sports and arts sleep away summer camp established in 1968. Using the same strengths caring for the families, such as reliability, integrity, honesty and a deep sense of protecting the interests of those he is responsible for, Joseph applies this to his present real estate broker career. Should you have questions please feel free to contact Joseph Marovitch at 514 825-8771, or josephmarovitch@gmail.com
