History
Although created officially in 2010, the OACIQ has a rich history that began in the 1950’s. The following timeline provides an overview of the various milestones and events that marked its current mission.
The Corporation des courtiers en immeubles de la province de Québec is created on January 13, 1954
The first Real Estate Brokerage Act is adopted.
The Real Estate Brokerage Act is amended to create the Service de courtage immobilier, a government agency responsible for regulating and issuing permits. The Corporation des courtiers en immeubles collaborates with the Service.
The Corporation des courtiers en immeubles is succeeded by the non-profit Quebec Real Estate Association (QREA). Although this professional association does not have any powers under the Real Estate Brokerage Act, it sets standards for professional conduct and training.
The Québec government adopts a Professional Code to ensure the protection of the public while allowing professional corporations to remain autonomous (e.g. Collège des médecins, Chambre des notaires, Barreau du Québec).
Although not a professional corporation, the QREA develops its ability to self-manage and to differentiate between "protecting the public" and "defending the rights of its members".
The Real Estate Indemnity Fund (FICI) is created under the Real Estate Brokerage Act.
The number of QREA members reaches over
A new Real Estate Brokerage Act comes into force, creating the Association des courtiers et agents immobiliers du Québec (ACAIQ), which replaces the QREA.
The Fonds d’assurance responsabilité professionnelle du courtage immobilier du Québec (FARCIQ) begins operations for all Québec real estate brokers and agents.
To better respond to changing needs, a draft revision of Real Estate Brokerage Act is tabled in December.
The new version of the Real Estate Brokerage Act is approved and adopted by the National Assembly in May.
The new Real Estate Brokerage Act comes into force on May 1, 2010, and the ACAIQ becomes the OACIQ.
In March, the OACIQ tables its first Annual Report.
In February, many of the profession’s stakeholders meet for a one-day event called the “Real Estate Summit”.
On September 1st, any person wishing to become a licensed broker by the OACIQ must successfully complete a basic training recognized by the Organization before writing an exam, which is also designed by the OACIQ.
The Organization posted online several new tools to better inform the public, including:
The year was marked by two significant achievements for the protection of the public: The coming into force, on May 1, of the Mandatory Continuing Education Program for all brokers, as well as the involvement of the OACIQ in the review process of the Real Estate Brokerage Act by the Ministère des Finances du Québec.
In May, the new President and CEO of the OACIQ, Nadine Lindsay, took office.
The OACIQ started its 2017-2019 strategic plan, which focused on four major directions, namely:
The OACIQ and Option Consommateurs sign an agreement to better inform the public of the protections offered by the Real Estate Brokerage Act.
A new mandatory continuing education cycle was launched in May.
The OACIQ continues to be a trusted ambassador.
The year was marked by the start of the global pandemic. In addition to informing consumers and licensees about the health measures to be respected during real estate transactions, the OACIQ has continued to promote the protections offered by the Act.
Faced with the overheated housing market, the Organization implemented three initiatives to protect consumers: a new mandatory training course for residential real estate brokers, a public awareness campaign and an additional initiative to its prevention program–mystery shoppers.
After months of real estate boom, consumers are now facing an inflationary surge marked, among other things, by an increase in interest rates that is also affecting the housing market. It is in this context that the legislative amendments arising from Bill 5 come into force: the prohibition of double representation and verbal contracts for the purchase of a property. The aim of these amendments is not only to improve the oversight provided by the Real Estate Brokerage Act, but, more importantly, the protection of the public.
