Framework Residential 201009

Competency framework in residential
real estate brokerage
Professional competencies
evaluated by the O ACIQ
© Organisme d’autoréglementation du courtage immobilier du Québec, September 2010 – All rights reserved.

The competency framework is a guide to help future brokers understand what competencies must
be developed and mastered in order to act ethically and responsibly in their real estate brokerage
practice.
Seven competencies make up the competency framework:
 Acting ethically and responsibly in one’s brokerage practice
 Managing one’s professional activities in the field of real estate
 Making use of general and special rules of law in brokerage transactions
 Assessing the quality and the various building elements of an immovable
 Estimating the market value of a residential immovable
 Carrying out brokerage transactions pertaining to the sale, purchase, leasing or
exchange of a residential immovable
 Distinguishing the basic principles of mortgage financing.

Each competency of the framework was developed after an analysis of professional situations,
followed by a validation process with the sector’s practitioners and professionals to ensure that the
framework corresponds to reality while meeting the requirements of the profession.

A professional situation represents the responsibility incumbent on the broker in the course of
his/her professional duties. These professional situations give rise to professional actions that must
be implemented to ensure the fulfillment of such responsibilities.
Finally, these professional actions necessitate mastery of professional resources. These resources
are primarily the knowledge that the candidate must master in order to act professionally and
effectively.
The OACIQ’s new examination was designed based on this competency framework.
The development process of the competency framework in residential real estate brokerage was
patterned on the model proposed by Mr. Jacques Tardif, Professor at the Université de Sherbrooke.






Core competencies Professional situations Professional actions Resources

Competency 1 Code of Ethics
Acting ethically and responsibly in All All

Rules of ethics
one’s brokerage practice
Basic accounting
Working capital and liquidity
Being in business Taxes on purchases and sales
Looking for clients, solicitation
Business plan
Fulfilling one’s obligations as a self-employed Knowing one’s obligations to a client Indemnity Fund to protect deposits
broker or a salaried broker Self-employed broker
Defining one’s practice as a salaried broker or
Salaried broker
as a self-employed broker
Time management
Fulfilling one’s fiscal obligations to Tax laws

Competency 2 governments Goods and services tax
Managing one’s professional activities Ensuring the legality of one’s practice Liability insurance
in the field of real estate
Advertising rules for brokers
Complying with the OACIQ’s rules
Dues
Real estate structure in Canada
Knowing how to use the resources of real Roles of the real estate boards
estate boards Financial implications
Using professional resources related to real
estate Membership
Filling in the brokerage form Clause 6 of the brokerage contract
Listing a property
Acting as the listing agent SIA/MLS by-law
Databases of real estate boards


rea l estate brokerage

Compensation in a multi-broker transaction

Collaborating with another broker
Competition Act and compensation
Establishing professional relationships
with other brokers in the real estate field Code of Ethics
Settling disputes with another broker Arbitration by real estate boards
Publicizing one’s real estate brokerage
Competency 2 services Competition Act
Managing one’s professional activities Doing the administrative work
in the field of real estate necessary to keep registers and OACIQ standards
(continued) records
Steps of a professional inspection
Preparing for a professional inspection
Keeping records, books and registers of Syndic’s investigation
real estate transactions
Operation of the trust accounts
Using the trust accounts
Rules governing the trust accounts
Acting in accordance with the laws and Real Estate Brokerage Act
regulations OACIQ By-law and Code of Conduct
Competency 3
Making use of general and special rules All All
of law in brokerage transactions





Problems related to the region (clayey soil, etc.)
Problems related to materials (e.g. pyrite, iron
Recognizing the possible signs of problems ochre and others)
related to the construction and the situation of
Inadequate or faulty foundation
an immovable’s buildings
Craft renovation
Chalet converted into principal residence
Broker’s first inspection
Minimizing the risks of recourses Inspection by a professional
Recognizing the possible signs of problems History of documented renovation
with an immovable
Advising use of professional services Inspectors, experts, etc.
Ensuring follow-up after inspection Form and content of the inspection report
Arbitration
Knowing the possible recourses Civil Code
Negotiated agreement (renegotiation)
Competency 4 Encroachment
Assessing the quality and the various Deciphering certificates of location Servitudes
building elements of an immovable Compliance with municipal by-laws
Foundation
Envelope and openings
Evaluating the condition of an immovable
Materials used (floors, roof, etc.)
History of renovations
Condition of the different parts (plumbing,
electricity, etc.)
Performing a visual inspection of the interior and
Determining the quality of a building Evaluation a building’s level of maintenance
the exterior
Being present during the inspection performed by
a third party
Complete normal inspection routine
Knowing the broker’s limits
Protecting the client by explaining the issues of
the inspection Association of competent appraisers and
professionals for the inspections (professional
insurance)




Presence of a heat pump, swimming pool,
fireplace, busy street, etc.
Renovation (kitchen, etc.)
Appraising the contributive values of an
Effect of geographic location
immovable
Effect of architectural style on the property
Effect of limitations of public law (e.g.
Competency 5 cultural property, religious property, etc.)
Providing an opinion on the value of an
Estimating the market value of a immovable Sales market
residential immovable Identifying the comparables or Rental property (less than 5 dwellings)
determining the price based on what is
comparable Farmette
Non-standard property (adjustments)
Parity method (comparables)
Using different methods to establish the
Income method (economic)
value of a property
Replacement cost method





Types of buyers and sellers, seller non-
resident of Canada
Time limits
Distinguishing among the different brokerage
contracts to sell Property (less than 5 dwellings)
Forms available
Preliminary contract for a new building
Ensuring that the parties understand the
brokerage contract and their rights and OACIQ Code of Ethics
obligations
Zoning, cultural property, agricultural land,
riparian zone, airport zone
Determining the laws and regulations
associated with a property Environment and urban planning
Competency 6 Act respecting the Régie du logement
Carrying out brokerage transactions Drafting a brokerage contract for the sale of an Powers of attorney
pertaining to the sale, purchase, leasing immovable Intervention of spouse
or exchange of a residential immovable
(less than 5 dwellings) Declaration of co-ownership
Determining the ownership of an immovable Certificate of location
Claims and hypothecs
Succession and security for legal costs (legal
warranty)
Broker’s liability
Drafting a standard or specific clause
Legal drafting
Real Estate Brokerage Act
Documenting before drafting
Publication of rights
Reflecting the will of the parties Declarations by the seller – Annex G
Civil Code on contracts and obligations
Drafting the right brokerage contract regarding
sales and its annexes Forms available




Purchaser
Knowing the current brokerage contract Seller

to purchase Property (less than 5 dwellings)
Forms available
obligations
Intervention of spouse
Powers of attorney
Competency 6 Declaration of co-ownership
Carrying out brokerage transactions Drafting a brokerage contract for the Determining the ownership of an Certificate of location
pertaining to the sale, purchase, leasing purchase of an immovable immovable
or exchange of a residential immovable Succession
(less than 5 dwellings) (continued)
Zoning, cultural property, agricultural
land, riparian zone, airport zone
Environment and urban planning
Drafting a standard or specific clause Broker’s liability
Publication of rights, land registers
Reflecting the will of the parties Declarations of the seller – Annex G
Drafting the right contract and its Civil Code on contracts and obligations
annexes Forms available





Lessee
Distinguishing among the different Lessor
brokerage contracts to lease
Property (less than 5 dwellings, cottage
country, time share, etc.)
obligations
Zoning, cultural property, agricultural land,
riparian zone, airport zone
Competency 6 Powers of attorney

Determining the ownership of an
Carrying out brokerage transactions Drafting a brokerage contract for the immovable Declaration of co-ownership
pertaining to the sale, purchase, leasing of an immovable, including the Certificate of location
leasing or exchange of a residential annexes
immovable (less than 5 dwellings) Leases, sublet and cotenancy
(continued)
Broker’s liability
Drafting a standard or specific clause
Legal drafting
Publication of rights
Reflecting the will of the parties Declarations of the seller – Annex G
Act respecting the Régie du logement
Drafting the right contract and its
Civil Code on contracts and obligations
annexes
Forms available




Declarations of the seller (section 6)
Using the right form Clauses and standard clauses
Forms available
Normal steps of the transaction
Notarial act
Accompany one’s client in the entire real
estate approach Counter-proposal(s)
Follow-up of the promises and their annexes
after acceptance
obligations
Drafting a promise to purchase Preliminary contract for a new building
Legal elements of a promise to purchase
Time limit for acceptance
Competency 6 Time limit for notification
Carrying out brokerage transactions Purchase clauses conditional on qualification
pertaining to the sale, purchase, leasing of the purchaser
Drafting a promise to purchase
or exchange of a residential immovable Clauses conditional on the sale
(less than 5 dwellings) (continued) Clauses conditional on cancellation of the first
clause B2.3
Conditions attached to the promise to
purchase
Co-ownership document
Using the right form Clauses conditional on leasing
Normal steps of the transaction
Accompany one’s client in the entire real
Notarial act
estate approach
Counter-proposal(s)
Drafting a promise to lease Ensuring that the parties understand the
obligations
Leases, sublet and cotenancy
Drafting a promise to lease Act respecting the Régie du logement
Restricted availability for occupancy




Calculation mechanism
Loan prequalification
Initial deposit
Calculating a client’s overall borrowing
capacity Amortization and interest rate
Types of borrowing (A, B, C, Wells Fargo,
etc.)
Use of a financial calculator
Limit of the role of the residential real
estate broker
Referring to mortgage brokers as needed
Conflict of interest
Avoiding a credit judgment
Competency 7 Types of loans

Advising the parties in their mortgage Client’s actual payment capacity
Distinguishing the basic principles of approach Giving mortgage advice
mortgage financing Information on mortgage qualification
Consequences for the seller
Seller credit and seller’s liability
Informing the parties about the actual Penalty
expenses related to a purchase and a
sale Release
Mortgage transfer
Advising the client soundly according to
Calculation of debt ratios
his/her wishes, needs and ability to pay
Mortgage insurance
Understanding the mortgage and how it CMHC
works Hypothecary recourses
Government programs


Framework Residential 201009

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Core competencies Professional situations Professional actions Resources

Acting ethically and responsibly in All All

Fulfilling one’s fiscal obligations to Tax laws

Core competencies Professional situations Professional actions Resources

Compensation in a multi-broker transaction

Core competencies Professional situations Professional actions Resources

Core competencies Professional situations Professional actions Resources

Core competencies Professional situations Professional actions Resources

Core competencies Professional situations Professional actions Resources

Knowing the current brokerage contract Seller

Core competencies Professional situations Professional actions Resources

Competency 6 Powers of attorney

Core competencies Professional situations Professional actions Resources

Core competencies Professional situations Professional actions Resources

Competency 7 Types of loans

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