RGCQ Brief – Draft Regulation on the Title of Residential Co-Ownership Specialist

The RGCQ has submitted a brief as part of the consultation surrounding the draft regulation published in the Gazette officielle du Québec concerning the obtaining and use of the residential co-ownership specialist title for real estate brokers.

The brief emphasizes that co-ownership transactions are now significantly more complex than in the past and require a thorough understanding of the legal, technical, and financial issues specific to this form of housing. The RGCQ also stresses that this evolving market makes enhanced public protection essential, particularly through stronger competency requirements for brokers involved in co-ownership transactions.

The RGCQ welcomes the recognition of specialized expertise in residential co-ownership, but raises concerns regarding the optional nature of the proposed title. In particular, the brief points out that brokers without specialized training could continue to participate in co-ownership transactions despite the growing complexity of the documents and obligations associated with this sector.

The brief also addresses issues related to public protection, consistency in minimum competency standards, OACIQ oversight mechanisms, and the supervision of specialized training. The RGCQ notably recommends a training model open to multiple accredited specialized organizations in order to ensure a diversity of expertise and greater accessibility to training.

The RGCQ notably recommends:

• The introduction of mandatory minimum training for any broker involved in co-ownership transactions;

• Maintaining the specialist title as an advanced level of expertise;

• Strengthening oversight and supervision mechanisms;

• Greater consultation with stakeholders in the co-ownership sector.

According to the RGCQ, broker competency has now become an essential component of the credibility of Quebec’s divided co-ownership regime and of the long-term protection of consumers.

Consult the RGCQ brief (available in French only).