This is a slightly amended version of the original code of ethics for Real Estate Brokers in Dubai. Although it has legal power in Dubai only and there currently is no equivalent in the other emirates, we see ourselves morally committed to it in all Emirates and beyond. The Real Estate Brokerage profession is one of the professions that influences real estate activity due to its role in promoting real estate investment. Therefore, the Department is keen on organizing this profession as it issued By-Law No. (85) for the year 2006 in relation to preserving and organizing the Real Estate Brokers Register which includes the regularized procedural and subjective rules for the real estate brokerage activity. One of the most important aspects of the above mentioned By-Law is Article (14) which stipulates that “All registered brokers must comply with professional ethics according to the Code of Ethics prepared by the Committee in consultation with Brokers with expertise and opinion”. Therefore, the Code was issued to complement the Brokers’ By-Law through associating legal rules with the rules of moral and professional conduct in the practice of Real Estate Brokerage in the Emirate of Dubai; and its principles are based on ethics of conducting business and transactions in the field of real estate brokerage the foundation of which is honesty, trust, integrity, respect and similar principles derived from the heritage and ethics of the UAE Society. The development and improvement of the brokerage profession is a goal that the Code seeks to achieve through the Brokers’ obligation to provide the highest levels of professional and ethical conduct. We are licensed to practice in the Emirate of Dubai, hereby undertake to adhere to the following principles and rules:
1. Fair Treatment
We undertake to treat all contracting parties equally and to achieve justice between them without prejudice or differentiation.
2. Respectful Treatment
We undertake to respect the contracting and concerned parties and to respect the privacy of parties and we reject any conduct that would belittle them.
3. Preservation of Privacy
We undertake to preserve the privacy of the parties and the confidentiality of their information and undertake not to reveal any information which is confidential or considered as such including telephone numbers and email addresses to any party whether such information relates to the buyer, the seller or any parties related to real estate brokerage. We further undertake to keep this information from reaching any party that would expose it for contractual or personal purposes.
4. Trust and Integrity
We undertake to present the deal to both parties honestly and to inform the parties of all the facts and circumstances known to us regarding the real estate and to conduct our business with trust and integrity without harming the reputation of real estate brokerage.
5. Quality Observation
We undertake to provide brokerage services of practical value to parties related to the real estate brokerage activity and to continuously seek to develop such services in terms of precision and quality.
6. Observance of Regulations and Laws
We undertake to observe the regulations and laws applied in the country and to honour our contractual obligations. We further undertake not to allow individuals who are not brokers to operate through our office or to exploit the name or license of our office. We realise that forgery, intentional or negligent presentation of false information or data or any attempt to do so shall subject its perpetrators to questioning and investigation in addition to taking necessary disciplinary action against them.
7. Integrity
We are diligent in dealing with all parties with integrity and trust and undertake that our efforts will be based on trustworthy and clear information. We further undertake to deal transparently with all parties concerned including transparency of systems and procedures related to our operations.
8. Obligation towards the Society
We undertake to be active members of the society and to work to respect the values and principles of our society. We shall also strive so that our services will support the growth of real estate development in the Emirates.
9. Observance of the Interests of Contracting Party
We undertake to protect the interests of the contracting parties and to abstain from doing anything that might harm the interest of one party.
10. Obligation to Preserve Documents
We undertake to preserve all documents, instruments and things related to the deal.
11. Respect of the Regulations and Procedures of the Lands and Property Department
We undertake to respect the regulations and procedures observed by the Department. We are further bound by the rules of good behaviour when visiting the Department and to respect the instructions issued to me by the Department officials. We undertake not to establish special relations with the Department employees for personal gain.
