Mortgage broker who is also a real estate broker

A mortgage broker may also hold a real estate broker’s licence. However, holding these two titles can present its share of compliance challenges.

Mortgage brokers who are also real estate brokers must always follow the representation and client solicitation rules when introducing themselves to clients.

When offering both mortgage brokerage services and real estate brokerage services to the same client, mortgage brokers must comply with all their obligations related to the pursuit of activities as a mortgage broker, particularly as they relate to:

Visit the Activities to be declared page to find out more about all your obligations related to outside activities you may engage in.

The moment a mortgage broker proposes a mortgage lender or a loan from a mortgage lender to their clients, they engage in a mortgage brokerage transaction and must perform all the acts involved in such a transaction. As a mortgage broker, they therefore may not limit themselves to making referrals, even if they are also a real estate broker.

A mortgage broker wishes to also act as a real estate broker with the same client in the same transaction? It’s important to remember that:

A broker may not act as a mortgage broker for one party to a transaction and as a real estate broker for another party to the same transaction. Since a mortgage broker cannot meet their ethical obligations when they represent opposing interests, they are not allowed to act as a mortgage broker for one party involved in a transaction and a real estate broker for another party involved in the same transaction.

For the rules governing real estate brokerage, refer to the OACIQ website This link will open in a new window.