competencyframework** formerrealestate*agent’s...

© Organisme d’autoréglementation du courtage immobilier du Québec, June 2013 – All rights reserved.

Competency frameworkCompetency framework

Former real estate agent’s certificate holder wishing to carry out his activities on his own account

Professional competencies Professional competencies

evaluated by the evaluated by the OACIQOACIQ


BACKGROUND

The examination evaluates the competencies of individuals who held an affiliated real estate agent’s

certificate under the previous Act and who, with the coming into force of the new Act, would like to

act on their own account, but without having other brokers in their employ.

Terminology:

The purpose of this certification examination is to evaluate competencies that were not measured as

part of the affiliated agent examination, but were measured in the broker examination. This

evaluation incorporates some aspects of real estate brokerage and of the agency executive officer’s

activities.

METHOD

Prior to this, the affiliated agent and broker examinations were based on knowledge acquired in the

corresponding college programs.

Since the implementation of the new Real Estate Brokerage Act, certification evaluations are used to

evaluate competencies identified by experts in the field.

To develop the certification evaluation of affiliated agents wishing to act on their own account, we

compared the synoptic chart developed by the Ministère de l’éducation for the affiliated agent’s

course to the competencies targeted by the new certification evaluations. This comparison enabled

to identify competencies and professional situations and actions that were not evaluated in affiliated

agents in the past.

BEFORE SINCE THE COMING INTO FORCE OF THE NEW ACT

Affiliated agent Real estate broker

Real estate broker Agency executive officer

Competency frameworkCompetency framework Former real estate agent’s certificate holder wishing to carry out his activities on his own account

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COMPETENCIES TARGETED BY THIS EVALUATION:

For the competency: Managing one’s professional activities in the field of real estate, the

evaluation will focus on the obligation to fulfill one’s obligations as a self-‐employed broker,

particularly the keeping of records, books and registers of real estate transactions.

The competency: Assessing the quality and the various building elements of an immovable will

evaluate professional situations involving the ability to recognize and determine the quality of a

building.

For the competency: Carrying out brokerage transactions pertaining to the sale, purchase, leasing

or exchange of a residential immovable, the professional actions evaluated relate primarily to

everything involved in the obligation to advise and inform the buyer or seller.

The competency: Distinguishing the basic principles of mortgage financing will examine every

aspect of mortgage brokerage.

The following pages contain professional situations and actions that require a mastery of your

professional resources, in other words the knowledge that a candidate must possess to fulfill his

duties in a professional and efficient manner.

These are the competencies on which the new OACIQ examination is based.


Professional competencies Affiliated agent wishing to act on his own account


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Core competencies Professional situations Professional actions Resources

Competency Managing one’s professional activities in the field of real estate

Fulfilling one’s obligations as a self-‐employed broker

Being in business

Basic accounting Working capital and liquidity Looking for clients, solicitation Business plan

Defining one’s practice as a self-‐employed broker

Self-‐employed broker Salaried broker Time management

Fulfilling one’s fiscal obligations to governments

Tax laws Goods and services tax

Using professional resources related to real estate Acting as a listing broker

Listing a property SIA/MLS by-‐law Databases of real estate boards

Establishing professional relationships with other brokers in the real estate field

Collaborating with another broker

Compensation in a multi-‐broker transaction

Competition Act and compensation

Settling disputes with another broker Arbitration by real estate boards

Publicizing one’s real estate brokerage services

Competition Act

Keeping records, books and registers of real estate transactions

Doing the administrative work necessary to keep registers and records

OACIQ standards

Using the trust accounts Operation of the trust accounts




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Competency Assessing the quality and the various building elements of an immovable

Recognizing the possible signs of problems with an immovable

Minimizing the risks of recourses Broker’s first inspection Inspection by a professional History of documented renovation

Knowing the possible recourses Arbitration Civil Code

Determining the quality of a building

Evaluating the condition of an immovable

Foundation Envelope and openings Materials used (floors, roof, etc.) History of renovations

Protecting the client by explaining the issues of the inspection

Complete normal inspection routine Knowing the broker’s limits Association of competent appraisers and professionals for the inspections (professional insurance)

Competency Carrying out brokerage transactions pertaining to the sale, purchase, leasing or exchange of a residential immovable (less than 5 dwellings)

Drafting a brokerage contract for the sale of an immovable

Ensuring that the parties understand the brokerage contract and their rights and obligations

OACIQ Code of Ethics

Determining the laws and regulations associated with a property

Zoning, cultural property, agricultural land, riparian zone, airport zone Environment and urban planning

Determining the ownership of an immovable

Powers of attorney Intervention of spouse Declaration of co-‐ownership Certificate of location Claims and hypothecs Succession and security for legal costs (legal warranty)



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Competency (cont’d) Carrying out brokerage transactions pertaining to the sale, purchase, leasing or exchange of a residential immovable (less than 5 dwellings)

Drafting a brokerage contract for the leasing of an immovable, including the annexes

Ensuring that the parties understand the brokerage contract and their rights and obligations


Determining the ownership of an immovable

Zoning, cultural property, agricultural land, riparian zone, airport zone Environment and urban planning

Drafting a promise to purchase

Accompany one’s client in the entire real estate approach

Normal steps of the transaction Notarial act Counter-‐proposal(s) Follow-‐up of the promises and their annexes after acceptance

Ensuring that the parties understand the promise to purchase and their rights and obligations


Drafting a promise to lease

Using the right form Clauses conditional on leasing

Accompany one’s client in the entire real estate approach

Normal steps of the transaction Notarial act Counter-‐proposal(s)

Ensuring that the parties understand the promise to lease and their rights and obligations


Drafting a promise to lease Leases, sublet and cotenancy Act respecting the Régie du logement Restricted availability for occupancy



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Competency Distinguishing the basic principles of mortgage financing

Advising the parties in their mortgage approach

Giving mortgage advice

Types of loans Client’s actual payment capacity Information on mortgage qualification Consequences for the seller

Informing the parties about the actual expenses related to a purchase and a sale

Seller credit and seller’s liability Penalty Release Mortgage transfer

Advising the client soundly according to his/her wishes, needs and ability to pay

Calculation of debt ratios (GDS-‐TDS)

Calculation of loan-‐to-‐value amount (LTV)



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