Real Estate Blog

April 26, 2023

What is the role of an agency executive officer?

An agency executive officer not only coordinates a team of brokers, but also ensures the protection of your best interests. Read about these multiple roles.


 

Who can be an agency executive officer?

The agency executive officer is typically an experienced broker with an extensive background in various brokerage practices such as residential and commercial real estate, and mortgages. In addition to also working as a broker and independent entrepreneur, the executive officer directs and manages the brokerage agency.

This position requires good leadership skills, extensive knowledge, and a commitment to keeping up to date with emerging developments in the field, particularly as executive officers serve as a reference and role model for other brokers. Moreover, agency executive officers also must complete additional training totalling 270 hours of virtual and in-person courses.

Diversified roles of the agency executive officer

An agency executive officer is primarily responsible for supervising the activities and work of the agency brokers. At the same time, the interests of the agency’s clients must also be protected. Here are some of the responsibilities associated with this position according to the Organisme d’autoréglementation du courtage immobilier du Québec (OACIQ):

  • ensure that brokers regularly update their skills and that they respect their code of conduct and obligations set out in the Real Estate Brokerage Act.
  • help brokers manage their activities, provide advice on best practices and support for the various transactional steps and forms.
  • ensure compliance with procedures and obligations related to advertising, conflict of interest disclosures, protection of personal information, collaboration between brokers, record and register keeping, and trust account management.
  • implement a complaint-handling process.
  • manage the human, material and financial resources of the agency while ensuring its visibility.
  • ensure the integration of new brokers into the agency.
  • ensure the proper functioning of the agency and follow-up of client files when a broker is absent.

In short, the agency executive officer works to protect the public by coordinating, advising, mentoring, and monitoring the agency’s brokers. In the event of a problem with their broker, future homebuyers or sellers can turn to the person who runs their agency for help. The training an agency executive officer receives equips them to play an important role with brokers who, in turn, can better help consumers.


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