When you choose to be represented by a broker for the purchase of a property, the OACIQ mandatory form Exclusive Brokerage Contract – Purchase must be used for the purchase of:
A residential immovable containing less than 5 dwellings
A divided co-ownership property
An undivided co-ownership property
Like all other forms of the OACIQ and which brokers are required to use, this one was designed to offer you maximum protection while clearly establishing the terms under which the broker will act. It specifies, among other things:
ATTENTION: If you have not signed a Brokerage contract – Purchase with the broker, the latter cannot represent you and promote your interests in the purchase of a residential property. Brokers are prohibited from representing clients if they have not signed a written brokerage contract with them.