The “Organisme d'Autoréglementation du Courtage Immobilier du Québec” (OACIQ) plays a vital role in establishing the standards for mortgage professionals in the province. Organizations like OACIQ are important because they protect the public and ensure that local mortgage professionals are educated and engaging in sound broker practices. Perhaps most importantly, they protect home buyers from misconduct under the Real Estate Brokerage act. Their website also offers a wealth of information for first time buyers and re-financers alike.
With 8.4 million residents, Quebec is the second most populated province in Canada, after Ontario. Most of its population is concentrated in cities and towns along the historic St. Lawrence river, with many living in cities like Montreal, Quebec City, Laval, Gatineau, Longueuil and Sherbrooke. The population is split mainly between single family homes and low rise apartment buildings, with about 40% renting and 60% owning their homes. 82% of the province speaks French, which is the only official language of the province under the Official Languages Act of 1974.