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Co-ownership: advantages and disadvantages

Courtier Immobilier Montreal — Fri, 16 May 2025 13:41:11 +0000

In Montreal – whether in the Plateau Mont-Royal, Rosemont La Petite-Patrie or Villeray areas – you’ll find a large number of properties available in divided or undivided co-ownership. This type of housing appeals to many buyers because of its many advantages, although it can also present certain disadvantages, depending on individual needs and expectations. To help you make an informed decision, our team of Montreal real estate brokers presents the main advantages and disadvantages of condominium living.

The benefits of condominium living

Living in a condominium offers many advantages, including increased security, access to various amenities, sharing of maintenance costs among co-owners, a sense of community among neighbors, and potential property appreciation.

Safety and security

In most condominiums, whether divided or undivided, you’ll often find security doors, intercoms, surveillance cameras, and sometimes even an on-site security guard. All these elements give owners a sense of security in their property.

Security entrance located at 1200 Rue Ste-Alexandre, apt. 601 | Ville-Marie

Access to community facilities

Many condominiums offer their residents attractive communal areas such as shared terraces, gyms, swimming pools and meeting rooms. These facilities enable owners to take full advantage of their living environment, while encouraging exchanges and encounters with their neighbors.

Common rooftop terrace, located at 1406, rue Sainte-Élisabeth, apt. 410 | Ville-Marie

Shared maintenance costs

Maintenance costs for the building and common areas, such as the roof and elevators, are shared between the various co-owners. This is a real advantage for condominium owners, as these major costs are shared out, reducing individual financial burdens.

Community presence

Living in a community often favors the creation of lasting social bonds, reinforcing the sense of solidarity and mutual aid between neighbors. These connections not only create a warmer environment, but also a genuine community spirit where everyone can support and exchange. It also helps to reduce isolation, by providing a setting in which people can meet and interact.

Property valuation

Finally, good building management by the syndicate of co-owners can contribute to an increase in the value of the various condos. This represents a considerable asset for owners, particularly with a view to eventual resale.

The disadvantages of condominium living

Co-ownership also presents a number of disadvantages for owners, such as compulsory payment of service charges, sometimes restrictive collective decision-making and potential conflicts between neighbors.

Obligatory service charges

Although charges are shared between co-owners, they can represent a substantial amount. What’s more, these expenses must be paid when the Board of Directors decides to carry out maintenance, renovation or improvement work on the common areas, which can sometimes result in unforeseen costs for co-owners.

Collective decisions

Decisions within a condominium are generally taken collectively, at general meetings attended by all co-owners. This is where issues relating to the management of the building, work to be carried out or budgets to be allocated are discussed and voted on. Although some co-owners may disagree with certain proposals, decisions are usually adopted by majority vote. This can sometimes be frustrating for owners whose opinions differ from those of the majority.

Neighborhood conflicts

Some tensions may arise between co-owners, due to various factors such as noise, disagreements over shared expenses, or behavior deemed disrespectful or uncivil in shared areas.

In conclusion, co-ownership living in Montreal offers many advantages, such as enhanced security, access to quality community facilities, shared maintenance costs and a rewarding community spirit. However, this lifestyle is not without its challenges, including the payment of compulsory charges, the management of collective decisions and potential tensions between neighbors. So it’s essential for every future homeowner to weigh up these aspects against their priorities and expectations before making a choice. To support you in this process, our team of real estate brokers in Montreal is at your disposal to guide you and help you find the condo that best suits your needs and lifestyle.

L’article Co-ownership: advantages and disadvantages est apparu en premier sur Courtier Immobilier Montréal Yanick E Sarrazin.

Financial repossession: advantages and disadvantages

Courtier Immobilier Montreal — Fri, 25 Apr 2025 19:54:41 +0000

If you’re looking for your new home, chances are you’ve already noticed the Repossession search criterion on Centris, which allows you to filter the properties involved in this type of procedure. To help you better understand this type of sale, our Montreal real estate team presents the main advantages and disadvantages associated of a financial repossession.

What is a financial repossession?

Repossession of finance, also known as mortgage foreclosure, is a legal process whereby a financial institution repossesses a property when the owner has failed to meet his or her payment obligations. In other words, if a homeowner stops repaying his or her mortgage for an extended period, the lender can take legal steps to repossess the property and put it up for sale to recover the sums owed.

However, this procedure is relatively complex and costly, often prompting lenders to offer homeowners a second chance. In most cases, the financial institution begins by sending a notice of default, followed by a letter of formal notice, before handing the file over to its foreclosure department.

When the property is seized, the financial institution calls in professionals to assess its market value. Once this step has been completed, the house is put up for sale on the market, usually through a real estate broker mandated by the lender.

The advantages of a financial repossession

Buying at a lower price

Since lenders generally wish to sell this type of property as quickly as possible, they are often marketed at a lower price than comparable properties. According to Centris, finance repossessions typically sell for 10% to 25% below market value.

Less competition

Not all buyers are attracted to this type of property. Indeed, finance repossessions sometimes require renovation work, which can dissuade some buyers who are looking for a turnkey home, ready to move into without repairs. This context reduces competition between buyers, which can be very advantageous in today’s real estate market.

Opportunity for value appreciation

Financial repossessions often require renovation work, providing an excellent opportunity to significantly increase their value. By carrying out well-targeted renovations, these properties can see their price rise significantly, offering attractive appreciation potential for discerning buyers. What’s more, for those with renovation skills who wish to carry out the work themselves, these properties represent an ideal opportunity to maximize their return on investment while reducing renovation costs.

Accelerated procedure

Since financial institutions are looking to recover sums owed rapidly, finance repossessions considerably limit protracted negotiations, speeding up the sale process and enabling the transaction to be completed in a shorter timeframe than a normal sale.

The disadvantages of a financial repossession

Buying without legal warranty

Since financial institutions do not have complete information on the property’s actual condition or maintenance history, finance repossessions are sold without a legal warranty. As a result, the buyer assumes full responsibility for the property’s condition, and has no recourse against the seller in the event of a hidden defect. In short, this type of transaction is carried out at the buyer‘s own risk.

Uncertainty about the state of the property

Some finance repossessions may show damage that occurred when the previous owners left, or require major repairs. What’s more, since creditors don’t have access to the property’s complete history, it’s crucial to carry out a thorough pre-purchase inspection. This step enables us to better assess the property’s actual condition and identify any work that needs to be carried out, thereby reducing the risks for the buyer.

Observing a lack of available information

Another major challenge when buying finance repossessions is the lack of information available. As creditors are not responsible for maintaining the property, it is often difficult for buyers to obtain details of the home’s history, repairs carried out or recurring problems. This lack of information can lead to uncertainty and increased risk for the buyer, who may end up having to invest much more than expected to bring the property back into good condition.

All in all, buying a finance repossession can offer considerable advantages, such as lower prices, less competition and the chance to make a profitable investment through renovations. However, it’s essential to weigh these advantages against the associated risks, such as uncertainty about the property’s condition and the lack of legal guarantees. Before embarking on such a transaction, it’s vital to fully understand the implications and take all the necessary precautions, including calling in experts for a thorough inspection. Being accompanied by an experienced real estate broker will enable you to benefit from sound advice and determine whether a financial repossession represents a wise investment for you.

L’article Financial repossession: advantages and disadvantages est apparu en premier sur Courtier Immobilier Montréal Yanick E Sarrazin.

Key interest rate maintained at 2.75%: A favorable environment for the real estate market!

Courtier Immobilier Montreal — Wed, 16 Apr 2025 18:40:38 +0000

Montreal, April 16, 2025 – The Bank of Canada has decided to maintain its key rate at 2.75%. This stability is explained by economists’ desire to await developments in the ongoing trade war between Canada and the United States before making any adjustments.

Source : Bank of Canada

Maintaining this rate continues to have a positive impact on the Canadian economy. In particular, it encourages consumer spending, since lower interest rates reduce borrowing costs for financial institutions, which can then offer advantageous terms to their customers. This favorable environment could encourage more buyers to realize their real estate projects.

While this decision is particularly favorable for buyers, it also has advantages for sellers. Increased demand on the real estate market, supported by easier access to credit, increases the likelihood of selling quickly at a competitive price. In short, the improvement in household purchasing power could breathe new life into the real estate market as a whole.

To better understand the impact of the 2.75% key interest rate on your real estate projects, don’t hesitate to contact our real estate brokers in Montreal.

Sources

Bank of Canada. https://www.bankofcanada.ca/core-functions/monetary-policy/key-interest-rate/?theme_mode=light&_gl=1*1v19lw8*_ga*MTQ5NjYzMjA2Ni4xNzQ0ODEzNzU2*_ga_D0WRRH3RZH*MTc0NDgyODMwMC4yLjAuMTc0NDgyODMwMC42MC4wLjA.

Bank of Canada.
https://www.bankofcanada.ca/2023/12/how-higher-interest-rates-affect-inflation/?theme_mode=light&_gl=1*112lhw*_ga*MTQ5NjYzMjA2Ni4xNzQ0ODEzNzU2*_ga_D0WRRH3RZH*MTc0NDgyODMwMC4yLjEuMTc0NDgyODM1OC4yLjAuMA.

La Presse. https://www.lapresse.ca/affaires/economie/2025-04-16/banque-du-canada/le-taux-directeur-reste-inchange-a-2-75.php

L’article Key interest rate maintained at 2.75%: A favorable environment for the real estate market! est apparu en premier sur Courtier Immobilier Montréal Yanick E Sarrazin.

5 financial incentives for your renovation projects

Courtier Immobilier Montreal — Mon, 31 Mar 2025 14:03:00 +0000

Did you know that subsidies are available for work to improve your home’s ecological footprint?

This week, Jean-Vincent, residential and commercial real estate broker with YE/SARRAZIN, presents 5 programs available in Quebec to help you improve the energy efficiency of your property.

Hydro-Québec's Logisvert program

Hydro-Québec’s Logisvert program grants subsidies for various energy efficiency measures, such as :

– Roof insulation and caulking to limit air leaks (Get up to $1,500) :
– The purchase of an induction stove (Get up to $250) or a heat pump dryer (Get up to $250);
– Installation of a heat pump for heating or cooling.

For example, Hydro-Québec offers financial assistance of up to $6,700 for the purchase of a heat pump. The amount of the grant may be higher, depending on the efficiency of the appliance. However, all interested homeowners should check whether the heat pump model they wish to install is on the list of eligible appliances. In fact, this subsidy could reach up to $22,000 if homeowners install a central heat pump combined with a heat storage unit.

This program can be particularly advantageous, as heat pumps can reduce energy consumption and cut heating costs by up to 40% during cold weather.

Eligible properties include single-family homes, semi-detached homes, townhouses, condominiums, multiplexes and apartment buildings with 19 units or fewer. In addition, apartments located in a 20-unit residential building are eligible.

The federal government's CAMT program

The Affordable Conversion from Oil to Heat Pump (CAMT) program offers homeowners heating with oil the opportunity to switch to an electric heat pump heating system. This switch can result in substantial savings, with reductions of up to several thousand dollars on their heating bills. In Quebec, financial assistance is available up to a maximum of $10,000. Eligible properties include: single-family homes, townhouses, mobile homes, permanently moored floating homes, low-rise multi-unit residential buildings (MURBs) and multi-use buildings. However, to be eligible for this subsidy, you must meet the following criteria:

– Household income must be at or below the median after-tax income for the province or territory in which it resides (for example, in Montreal, it was $96,000 in 2022);
– The maximum eligibility threshold for a two-person household in Quebec is currently set at $78,775;
– The heat pump selected must be on the eligible list.

Did you know?

Heating oil is a non-renewable fossil fuel whose combustion generates large quantities of greenhouse gases. In fact, the Quebec government has banned the use of this type of heating in new construction as of December 31, 2021.

Quebec government's Rénoclimat

The provincial government also offers financial assistance to homeowners who wish to carry out work affecting insulation, building airtightness and the replacement of doors or windows. Dwellings eligible for the program include houses, duplexes, triplexes and multi-unit residential buildings, provided they do not exceed three storeys above ground and have a footprint less than or equal to 600 m².

To qualify for this program, you must request an energy evaluation of the property before any work is carried out, and a second energy evaluation after the work has been completed. Generally speaking, the more the work improves the airtightness of the building, the greater the amounts offered by Rénoclimat. For example, for changes to roof or exterior wall insulation, the amounts range from $50 to $3,750. For doors and windows, the financial assistance is $150 per gross opening.

The federal government's Canada Green Housing Loan

The federal government is also offering an interest-free loan of up to $40,000, to be repaid over a 10-year period by the homeowner. To qualify, applicants must have their property appraised before work begins. Work already completed, in whole or in part, is not eligible for the loan. As a general rule, the loan is paid out once the work has been completed. However, in exceptional cases, a portion of the loan may be granted prior to the work, to cover installation costs.

Municipal programs

In addition to the four programs mentioned above, several other municipal programs are available throughout Quebec to support energy efficiency work. It’s a good idea to consult your municipality’s website before undertaking any work, to find out what financial assistance you may be entitled to. In Montreal, for example, the RénoPlex program offers various subsidies for owners of 1 to 5-unit income properties, such as:

– 500 for the installation of a planted surface or honeycomb paving ;
– Over $9,000 for the installation of a watertight garage door;
– 352 to repair a crack;
– 88 per square metre for the installation of a green roof.

In short, there are a variety of programs for property occupants in Quebec, offering considerable benefits. However, it’s essential that homeowners take the time to find out all they can before starting any work, to ensure their eligibility and maximize the benefits of available subsidies. However, if you have any questions about these various subsidies, don’t hesitate to contact our real estate brokers in Montreal. They’ll be happy to answer all your questions.

L’article 5 financial incentives for your renovation projects est apparu en premier sur Courtier Immobilier Montréal Yanick E Sarrazin.

How to write a competitive offer to purchase?

Courtier Immobilier Montreal — Fri, 14 Mar 2025 18:58:23 +0000

You’ve been looking for a property for several months and, despite several offers, you’re having trouble standing out from the crowd? Our team of Montreal real estate brokers has a few tips to help you formulate a more competitive offer to purchase and increase your chances of success in today’s real estate market, where multiple offers are common.

Learn more about the current market

Use an experienced real estate broker

It’s essential to work with a qualified real estate broker when looking for a property. Thanks to their expertise in the current real estate market, they’ll be able to guide you effectively and help you make the best decisions when making your purchase offers.

Analyze the real estate market

By working with a real estate broker, you’ll benefit from his or her expertise in in-depth analysis of the current market. For example, he can study recent sales of comparable properties in the area you’re interested in, giving you a clear picture of prices in the area. This data will enable you to formulate a more competitive offer, adapted to the realities of the market.

Research on the property

Before making an offer, it’s essential to do your research on the property in question. You can check publicly available data. Having a thorough knowledge of the property will enable you to submit a more solid offer.

Make sure you have a solid financial position

Get pre-approved for a mortgage

Our team of real estate brokers strongly recommends that you obtain a mortgage pre-approval before making an offer to purchase. This document inspires confidence in the seller, as it demonstrates the buyer‘s seriousness and financial capabilities.

Offer a down payment

Although the down payment is not a common practice in today’s real estate market, our real estate brokers strongly suggest that you consider it when submitting your offer to purchase. It shows you’re serious about finalizing the transaction, and strengthens your position vis-à-vis other potential buyers.

Make a clear and precise offer to purchase

Offer a competitive price

Based on your research, offer a competitive price. If the real estate market is very competitive, we suggest that you make a promise to purchase that is higher than the advertised price, in order to have a better chance of standing out from the crowd, especially in the case of multiple offers.

Be precise in your conditions and clauses

Our real estate team suggests that you be clear and concise in the conditions of your promise to purchase, avoiding superfluous clauses that could be perceived as an obstacle by the seller. However, certain conditions, such as inspection, should be mentioned in the promise to purchase, as they protect the buyer‘s interests.

Be flexible with the closing date

We recommend you be flexible about the closing date, and offer a date that also suits the seller. For example, if the seller needs to relocate quickly, we recommend that you propose an early closing date to facilitate the process for all stakeholders.

Add a personal touch to your offer to purchase

Present a letter to the seller

Our team of real estate brokers strongly recommends that buyers write a letter to the seller, expressing their interest in the property and why they have chosen it. This letter is then reviewed by your real estate broker to ensure that it contains all the necessary information.

In some cases, your real estate broker could also present your promise to purchase directly to the sellers. This approach would personalize the transaction and add a more human dimension, which could reinforce the impression of seriousness and foster a better connection with the seller.

Be available and flexible

Be responsive

In a competitive real estate market, speed is of the essence. For example, it’s crucial to react quickly when sellers approach you for information or when you have to respond to a counter-offer. A quick response not only demonstrates your interest in the property, but also strengthens your position with sellers.

Be ready to negotiate

It’s important to be flexible and open during negotiations. Sellers sometimes ask for minor adjustments, and buyers shouldn’t be inflexible in the face of these requests. On the contrary, they must be ready to discuss with the sellers in order to find common ground that satisfies both parties.

In short, a successful offer to purchase requires good preparation, thorough research and a certain amount of flexibility. By working with one of our Montreal real estate brokers, you’ll be guided every step of the way, including the drafting of your promise to purchase.

L’article How to write a competitive offer to purchase? est apparu en premier sur Courtier Immobilier Montréal Yanick E Sarrazin.

The key interest rate is cut to 3%: A great opportunity for buyers and sellers!

Courtier Immobilier Montreal — Thu, 30 Jan 2025 14:30:58 +0000

Montreal, January 29, 2025 – The Bank of Canada today announced a further reduction in its key policy rate to 3%. The 25-basis-point cut is part of ongoing efforts to control inflation and move closer to the 2% target.

Further reduction in key rate in the face of US economic threats

According to economists, many expected the key rate to remain at 3.25%. However, with the possibility of the Canadian economy soon being severely affected by new U.S. trade tariffs, this uncertainty could pose a real challenge for the country’s economy.

Impact on the Quebec real estate market

Source : Bank of Canada

This new reduction is designed to adapt to changing economic realities, which could be seriously affected by the imposition of new business rates. On the other hand, this reduction could lead to lower mortgage rates, making home ownership more accessible for buyers.

This reduction in the key rate could have a positive impact on sellers, making it easier for them to sell their properties, as they are likely to sell more quickly. Indeed, a greater number of buyers would now be able to obtain mortgage loans, stimulating demand on the real estate market.

In conclusion, while this reduction is primarily intended to mitigate the effects of the new trade tariffs imposed by the United States, it could also benefit the Montreal real estate market. We encourage you to get in touch with our Montreal real estate brokers to make your next real estate project a reality.

Sources :

Bank of Canada. https://www.bankofcanada.ca/core-functions/monetary-policy/key-interest-rate/

La Presse. https://www.lapresse.ca/affaires/2025-01-29/banque-du-canada/le-taux-directeur-baisse-a-3.php

Le Devoir. https://www.ledevoir.com/economie/836992/annonce-taux-directeur-canada-retour-trump

L’article The key interest rate is cut to 3%: A great opportunity for buyers and sellers! est apparu en premier sur Courtier Immobilier Montréal Yanick E Sarrazin.

Real estate statistics December 2024: Montreal real estate market on the rise

Courtier Immobilier Montreal — Wed, 15 Jan 2025 20:41:16 +0000

Our Montreal real estate brokers have analyzed the latest APCIQ real estate statistics, covering the month of December 2024. The purpose of this study is to assess trends in the Montreal real estate market over the past year, by comparing data obtained in December 2024 with that obtained in December 2023. For a more detailed analysis, our real estate brokers have structured their observations into three main categories: single-family homes, divided and undivided co-ownerships, and plexes (2 to 5 units).

Overview of the Montreal real estate market

*Based on APCIQ real estate market statistics

Single-family homes

Sales of single-family homes rose by 51%, from 193 to 291 transactions. Prices also rose slightly, by 6%, from $689,900 to $760,000. The average selling time decreased from 66 to 60 days, a reduction of 6 days.

Divided and undivided co-ownerships

Sales of divided and undivided co-ownerships rose dramatically by 52%, from 444 to 675 transactions. The median price also rose, from $445,000 to $465,000, an increase of 4%. Finally, the average sale time rose from 74 to 75 days.

Plexes (2 to 5 units)

The plex market also experienced significant growth of 51%, from 156 to 235. The median price rose from $767,000 to $840,000, an increase of 10%. Finally, the average sale time increased by one day, from 77 to 78 days.

These statistics testify to the dynamism and growth of the Montreal real estate market. If you’re ready to launch your real estate project, don’t hesitate to contact us today to benefit from the expertise of our real estate specialists.

L’article Real estate statistics December 2024: Montreal real estate market on the rise est apparu en premier sur Courtier Immobilier Montréal Yanick E Sarrazin.

Short-term accommodation law: New legal provisions for tourist rentals

Courtier Immobilier Montreal — Tue, 07 Jan 2025 16:08:00 +0000

Since June 2023, Bill 25 has been in force to further regulate tourist rentals in Quebec. This new legislation was prompted by a tragic tragedy in Old Montreal on March 16, 2023. By establishing a legal framework for rental accommodations, this law aims to guarantee the compliance of establishments and prevent future tragedies by ensuring the safety of occupants. In addition, access to the public register of tourist accommodation establishments in Quebec has been available since last December.

Impact of Bill 25's coming into force

With the adoption of Bill 25, rental platforms such as Airbnb, Vrbo and Monsieur Chalets now require owners (also known as hosts) to include their registration certificate number in their property rental ads.

Voir cette publication sur Instagram

Une publication partagée par MonsieurChalets (@monsieurchalets)

Mandatory registration certificate

Anyone wishing to rent a property, whether a single-family home or a condo, to an entity on a short-term basis (for a period of less than 31 days) must hold a registration certificate issued by the Corporation de l’industrie touristique du Québec (CITQ). This certificate contains several essential pieces of information, including the registration number, the Minister’s signature, the address of the establishment, its category, the number of accommodation units offered for rental, and the certificate’s issue and expiry dates.

In addition, the registration certificate must be prominently displayed at the entrance to the establishment. However, if the establishment is located in a building with several residential units, it must be posted at the entrance to the building.

Significant penalties for non-compliance

In the event of non-compliance, rental platforms could face fines ranging from $10,000 to $100,000. For their part, landlords could face financial penalties ranging from $5,000 to $50,000. It is therefore essential for the parties concerned to comply rigorously with these rules in order to avoid any financial penalties.

In short, the coming into force of Bill 25 represents a step forward for security and transparency in the tourist rental industry in Quebec. By providing a clear legal framework, the law protects not only consumers, but also landlords by establishing precise rules. In addition, the establishment of a public register and the obligation to display registration certificates strengthen consumer confidence by making information easily accessible. These regulations aim to promote a more reliable and responsible tourism market, while contributing to the sustainability of the sector.

Which Montreal neighborhoods legally allow short-term rentals?

In Montreal, before renting out your property on a short-term basis, it’s essential to find out about municipal bylaws, as they vary from one neighborhood to another. For example, in the borough of Outremont, the rental of residences for tourist purposes is strictly forbidden. In the Plateau-Mont-Royal, on the other hand, it is permitted only on certain streets, such as Saint-Denis and Saint-Laurent. So it’s crucial to conduct thorough research on the specific rules in your area before taking any steps to register your property as a tourist residence.

We invite you to consult our article on the different regulations applicable to the various boroughs of Montreal.

Voir cette publication sur Instagram

Une publication partagée par Rue Saint-Denis - Montréal (@laruesaintdenis)

And if you have any questions about the law governing tourist accommodations, don’t hesitate to contact our Montreal real estate brokers. They’ll be happy to provide you with all the information you need and address any concerns you may have.

Sources

OACIQ. https://www.oaciq.com/en/articles/airbnb-type-short-term-tourist-rental-restrictions

Radio-Canada. https://ici.radio-canada.ca/nouvelle/1967800/poursuite-airbnb-incendie-vieux-montreal

Radio-Canada. https://ici.radio-canada.ca/nouvelle/1978250/projet-loi-herbergement-touristique-airbnb-quebec

Radio-Canada. https://ici.radio-canada.ca/nouvelle/2126385/registre-public-citq-airbnb-quebec

YE/SARRAZIN. https://yanicksarrazin.com/en/immobilier/real-estate-information/is-renting-your-property-on-airbnb-legal-in-montreal/

L’article Short-term accommodation law: New legal provisions for tourist rentals est apparu en premier sur Courtier Immobilier Montréal Yanick E Sarrazin.

Real estate statistics – November 2024: The Montreal real estate market is booming

Courtier Immobilier Montreal — Fri, 06 Dec 2024 15:55:56 +0000

Our Montreal real estate brokers have recently analyzed the latest APCIQ real estate statistics, covering the month of November 2024. In order to assess trends and developments in the Montreal real estate market over the past year, this analysis aims to compare the results obtained in November 2024 with data from November 2023. For a more precise analysis, real estate brokers have structured their observations into three main categories: single-family homes, divided and undivided co-ownerships, and plexes (2 to 5 units).

Plex sales recorded significant growth, rising from 170 to 268 transactions, an increase of 57%. The average sale price also climbed by 8%, from $773 500 to $836 000. Finally, the average time to sell a plex increased by 7 days, from 65 to 72 days.

In short, the real estate statistics for November 2024 highlight the dynamism of the Montreal real estate market. This vitality creates interesting opportunities for both buyers and sellers. If you’re ready to make your real estate project a reality, our brokers in Montreal are at your disposal to guide you through the buying or selling of your property.

L’article Real estate statistics – November 2024: The Montreal real estate market is booming est apparu en premier sur Courtier Immobilier Montréal Yanick E Sarrazin.

OACIQ and APCIQ: What’s the Difference Between these Two Key Real Estate Organizations?

Courtier Immobilier Montreal — Fri, 15 Nov 2024 17:52:09 +0000

L'APCIQ

An association representing the real estate brokerage profession

Although they both work in the real estate market, the APCIQ and the OACIQ are two very distinct organizations, with complementary roles and missions that make a significant contribution to the regulation of the real estate sector. To help you distinguish between them, our real estate brokers present these two little-known associations, which are essential to the smooth operation of the Quebec real estate market.

The Association professionnelle des courtiers immobiliers du Québec (APCIQ) is a non-profit organization that brings together over 15,000 real estate brokers, representing nearly 92% of professionals in Québec. Its primary mission is to support, train, inform and defend its members. Moreover, the APCIQ provides its members with a range of tools and resources aimed at collecting and analyzing relevant information on the real estate sector.

Supervision and development of the real estate brokerage profession

Representing the majority of real estate brokers in Quebec, its members benefit from a wide range of services, including continuing education, market analysis, legal support, and marketing and public relations tools. It also plays a role in promoting and structuring the profession, by implementing initiatives to enhance its image.

Created by the merger of three real estate boards

Experienced real estate brokers in Montreal remember the APCIQ by its former name, the Greater Montreal Real Estate Board (GMREB). Indeed, the APCIQ, founded in 2019, is the result of the merger of three regional boards: the CIGM, the Chambre immobilière de Québec (CIQ) and the Chambre immobilière des Laurentides (CIL). The aim of this association was to unite real estate brokers under a single provincial associative model. In order to centralize the promotion and protection of the profession. As mentioned by co-founder Christiane St-Jean, the APCIQ is now in a position to speak with a single voice to better address the various issues facing this function, so that the discourse remains coherent, unique and credible in the eyes of all.

In short, the APCIQ is the body that oversees and supports the professional development of real estate brokers, while actively representing their interests within the real estate sector, in order to guarantee standards-compliant practice and ensure the defense of their rights in a constantly evolving market. In an economy where real estate transactions are becoming increasingly complex, it is crucial that brokers, who accompany their customers throughout the process, can feel protected by a competent entity that understands the challenges of the Quebec real estate market.

L'OACIQ

An organization dedicated to consumer protection

The Organisme d’autoréglementation du courtage immobilier du Québec (OACIQ) plays a crucial role in protecting the public in real estate transactions. As an independent authority, the OACIQ is responsible for regulating and supervising the real estate brokerage profession in Quebec. It scrupulously ensures that real estate brokers comply not only with the laws and regulations in force, but also with the ethical standards established to ensure transparent, ethical and rigorous professional practice. In so doing, the OACIQ guarantees the safety and protection of individuals, whether buyers, sellers or tenants, by ensuring that their interests are always taken into account and defended in every real estate transaction.

Services for the general public

The organization offers a variety of tools, as well as a public assistance service available to both buyers and sellers. On their website, several means of communication are available to reach them. Finally, the OACIQ also requires real estate brokers to contribute to the Fonds d’indemnisation du courtage immobilier and to professional liability insurance, two measures designed to protect consumers.

In short, the APCIQ focuses on representing and supporting real estate brokers in the exercise of their profession, while the OACIQ’s mission is to protect the interests of the public and ensure that brokers’ practices comply with legal standards. Finally, the OACIQ and the APCIQ are two complementary organizations, each with a distinct but essential role to play in the smooth operation of the real estate sector in Quebec.

L’article OACIQ and APCIQ: What’s the Difference Between these Two Key Real Estate Organizations? est apparu en premier sur Courtier Immobilier Montréal Yanick E Sarrazin.