To work as a real estate agent or broker registered in dubai, there are many rules and follow certain rules. The Basic Law of the practice as a real estate agent in dubai has given K-Law No. (85) in 2006, other formalities for the registration of a broker registry later were invented RERA. An important part of the law is the code of conduct of the observation brokerage which is mandatory. In essence, the code of conduct of real estate agents in dubai is derived from social norms and values ??that are the heritage of the company dubai.
Responsibility of a real estate agent in dubai to follow the code of conduct
In accordance with the Law No. (85) Chapter 3 - Passive item dealer (22) refers to "Broker be liable for any loss or damage caused by one of the contracting parties as a result of their actions through deception , fraud or non-compliance with the principles to be followed in accordance with the provisions of the law in this or in accordance with the requirements of the code of Conduct.
Code of Conduct of the real estate agent in dubai
Code of Conduct for registered dealer in the Act by-N (85) includes eleven principles.
Fairness, respect, confidentiality, trust and integrity, quality control, compliance with rules and regulations, integrity, commitment to society, the interests of the contracting parties, the obligation to keep records, compliance with rules and procedures of the ministry of land and property.
Real Estate in Dubai should follow these principles in all their actions with respect to any transaction of the property with which he is involved.
What is considered a violation of the Code of Conduct?
Regulatory (RERA) Real gave some examples of what could be construed as a violation of the Code of Conduct by a real estate agent in Dubai. Here are some examples:
• Misleading the seller or buyer to current market value of the property price
• Retain intentionally or unintentionally relevant information of the buyer or seller
• Marketing, Advertising, Real Estate in, or promotion is too high or too low in price without the written consent and permission from the owner
• The false and misleading consumers by advertising prices, features and benefits of the property causing a loss or financial damage to the print and electronic media investors.
• Obstruction or interference with an existing contract of sale the buyer or seller causing failure by the actions or lack of actions related to professional liability broker/agent to help
• Client confidentiality, revealing the cause of the sale or other exclusive Customer expertise without authorization
• Identify the elements of personal data relating to a customer or revealing the cause of the sale or other proprietary knowledge of the client without special permission
• The pressure on the consumer to sign a document without reading or understanding the document and its legal obligations in accordance with the document, or denying them the opportunity to consult a lawyer before signing, if they wish
• Creating a direct contact with the client of another agent until they have an agreement in place
• Delaying the presentation 'bid' for the seller or the decision not authorized to sell without the prior consent of the owner of the building
• Outright lies Man
The law is strict in dubai, and if a real estate agent in dubai can be proved in violation of the code of conduct of the injured party has a legal cause of action and can pursue a real estate agent in the yard or continue the competent authorities.
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