The Fonds d’indemnisation du courtage immobilier

The Fonds d’indemnisation du courtage immobilier is an agency created pursuant to the Loi sur le courtage immobilier (Real Estate Brokerage Act). Its funds are derived from the fees paid each year by all Québec real estate brokers and agents. Its Board of Directors is comprised of seven members appointed by the Government.

A mission of protection in case of real estate fraud committed by a real estate agent or a real estate broker in Quebec

The purpose of the Fund is to provide compensation, free of charge, to victims of a real estate fraud, a dishonest real estate transaction or a misappropriation of funds or other property which, under the Act, must be deposited in a trust account.

Indeed, these fees are used to reimburse the very few consumers who, within the thousands of real estate transactions executed each year in Québec, incur a loss and whose claims are deemed admissible based on the Fund’s criteria.

For consumers who wish to sell, lease or buy a house, a building, or any other type of property, it is often very beneficial to be able to rely on a middleman for one’s real estate transaction. In order to fulfill its mandate, the Fonds d’indemnisation du courtage immobilier offers a protection to consumers who deal with a professional holding a real estate broker or agent permit and member of the Association des courtiers et agents immobiliers du Québec (ACAIQ).