Do’s
- Do get licensed before working with clients on any sort of Professional showing deals
- DO download the Dubai brokers App accessible through Dubai REST-APP to your smartphone device, to validate the owner’s ownership certificate before initiating any contract
- Do use the Dubai brokers app to access contacts A,B and F
- Do get all agency agreements with client in writing (contract A and B) in order to formulate contract F between buyer and seller
- Do include
RERA permit number “to all listings (sales and rental ads) and marketing material. This applies to all advertising platforms including social media - Do always identify yourself as a licensed broker, exposing your RERA smartcard available on the Dubai REST-APP and DLD website
- Do use RERA’s “Unified tenancy contract”
- Do renew your broker ID annually (at least 30 days prior to expiration)
- Do educate yourself on regular basis on any law updates, professional ethics charter and circulars issued by RERA
- Do deal only with RERA-approved developers and projects
- Do ensure that all monies from off-plan properties go into the designed escrow account.
- Do treat all parties fairly and without discrimination
- Do act in good faith to all contracting parties, regardless of who you represent
- Do act as a guardian of your client’s money and do as instructed by client
- Do take reasonable steps to avoid committing a mistake that could cause client to suffer a financial loss (conduct due diligence)
- Do have the commission split between you and other brokers in writing
- Do give full disclosure to all parties about the number of registered brokers working with you on the deal
- Do read all agreements very carefully and advise your client to do the same
- Do educate your client on their rights and obligations
- Do furnish your client with details of negotiation and issues related to deal
- As a registered broker, do maintain a “special transaction register” . This must be maintained by your company daily, and produced if requested by RERA
- You are Dubai’s ambassadors – do represent the country and the laws of its land accordinglyDon’t
- Do not promise potential clients any thing you cannot deliver for the sake of winning a listing
- Do not spam/mass mail or could call potential clients
- Do not advertise properties which are not for sale, or use old outdated listing prices
- Do not accept money/funds into your bank account from your clients
- Do not accept cash from undisclosed sources on behalf of your clients do not engage in any activity that may incur loss to any party of the deal
- Do not represent yourself as a party to the transaction, and as a broker at the same time (if you do, you are not entitled to commission )
- Do not represent more than one party to the deal without fill, written disclosure and consent from both parties
- Do not give misleading information to a buyer or a seller on the current market value of the price of a property
- Do not promise your clients future profits
- Do not work in activities that are not permitted under your company’s license
- Do not withhold relevant information, deliberately or unintentionally, from a buyer or a seller out of fear of losing the listing/deal
- Do not market, advertise, list or promote a property too high or too low in price. Do a CMA (competitive market analysis)
- Do not post false or misleading advertising to consumers on the price, features or benefits of a property, causing loss or financial harm to investors by print or electronic media
- Do not breach the privacy of the client by revealing the reason for the sale, or the private knowledge without permission
- Do not reveal the details of personal or private information related to the client
- Do not pressure clients to sign a document without them reading, or understanding the document and their legal obligations as per the documents or denying them the opportunity to seek legal advice prior to signing
- Do not make direct contract with another broker’s client whilst written agreements are in place
- Do not dictate the terms and conditions of the agreement between the buyer and the seller, suggest that they seek legal advice
- Do not delay presenting an “off-plan” to buy “to a seller”, or make an unauthorized decision regarding the sale without prior consent of the owner of the property