MONTREAL Real Estate Investors Group

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All real estate brokers and agents practicing in Québec must hold a certificate issued by the Association des courtiers et agents immobiliers du Québec (ACAIQ), whose main mission is to protect the public by supervising the professional practice of its members. Persons who do not hold such a certificate are acting illegally.

Above all, a consumer who engages in a real estate transaction through an unlicensed person cannot benefit from the mechanisms intended to protect him because these apply exclusively to members of the profession. Among these mechanisms are the Fonds d’indemnisation du courtage immobilier, which has the power to compensate the consumer in the event that he is the victim of fraud or misappropriation of funds, and professional liability insurance, to which the real estate broker must subscribe to guard against the monetary consequences of his faults, errors, negligence or omissions.

Tip:
The first thing to do before even initiating any real estate transaction, is to ensure that your broker or agent is a certified member of the ACAIQ. Ask to see his certificate or call the Association at (450) 462-9800 or 1 800 440-7170.

If the person who has acted or intends to act on your behalf has no certificate, inform the Association, which will conduct an inquiry, and do not pay him the commission to which he is not entitled in any case.

This entry was posted on Tuesday, February 14th, 2006 at 2:37 pm and is filed under Working with Agents. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.