Definition
A real estate broker is a professional licensed by the Organisme d'autoréglementation du courtage immobilier du Québec (OACIQ) who represents buyers or sellers in real estate transactions. They are a property broker, distinct from a mortgage broker.
The real estate broker helps find a property, evaluates the market, prepares and negotiates the purchase offer, and coordinates stakeholders through closing. Compensation is typically a commission of 4% to 6% of the sale price, paid by the seller (and therefore included in the sale price for the buyer).
The AMF mortgage broker manages financing: they analyze the borrower's profile, present the file to multiple lenders, and accompany the borrower through loan approval. These two professionals are complementary and do not perform the same functions. A buyer can engage both simultaneously from the start of the process.