What is fair treatment?

Since June 2022, the Real Estate Brokerage Act has clarified the roles of brokers representing either the buyer or the seller. Here are some pertinent details from the Organisme d’autoréglementation du courtage immobilier du Québec (OACIQ). Enjoy your reading!

WHAT IS FAIR TREATMENT?

Fair treatment means acting transparently and communicating relevant information about a property objectively, taking into account that this information may well influence a prospective buyer or seller. This means being fair to the rights and obligations of all parties to the transaction, whether or not they are represented by a broker.

FAIR TREATMENT
Objective and relevant information for the completion of a transaction while respecting your rights and obligations and those of all parties involved.

REPRESENTATION
Strategic information, acting as an advisor and being able to negotiate your interest.


FAIR DEALING SITUATION
When is it advisable to complete the Notice from the broker without an exclusive brokerage contract – Purchase form?
The Notice from the broker without an exclusive brokerage contract – Purchase form explains to the buyer the role and obligations of the collaborating broker, as well as the method of remuneration. This written notice confirms that the buyer understands that he had the relevant information to fully grasp its scope.

A collaborating broker without a brokerage contract works de facto for the seller and collaborates with the seller’s broker. Even if he causes a buyer to become interested in a property offered for sale by the seller’s broker, he does not represent, defend, protect or promote his interests.

However, the collaborating broker must treat the buyer fairly. This means that he must:

-provide him with objective information about all the facts relevant to the transaction and the buyer’s rights and obligations;
-not disclose confidential or strategic information;
-verify the information he provides and be able to prove the accuracy thereof;
-respect the confidentiality of the information entrusted to him and use the personal information he receives for the sole purposes for which the information is provided;
-avoid placing himself in conflict of interest.

*SOURCE OACIQ

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