RERA Professional Ethics and Client Relations

Question 1

What code of ethics does RERA establish for licensed real estate brokers?

Accepted Answer

Honesty and transparency, avoiding conflicts of interest, fair dealing, client confidentiality, accurate property representation, and professional competence

Answer

No code of ethics exists

Answer

Only honesty is required

Answer

Ethics are optional for experienced brokers

Question 2

What are the RERA regulations on dual agency (representing both buyer and seller)?

Accepted Answer

Dual agency must be disclosed to both parties with their informed consent, ensuring fair representation and avoiding conflicts of interest

Answer

Dual agency is always acceptable

Answer

Dual agency is prohibited in Dubai

Answer

Only senior brokers can practice dual agency

Question 3

What client fund handling requirements does RERA establish for brokers?

Accepted Answer

Client funds (deposits, security deposits) must be held in designated escrow or trust accounts separate from the broker's business or personal accounts

Answer

Brokers can hold client funds in personal accounts

Answer

No requirements for handling client money

Answer

Client funds are paid directly to the seller

Question 4

What disclosure obligations do RERA brokers have to clients?

Accepted Answer

Disclose all material facts about a property, any conflicts of interest, commission arrangements, and any information that could affect the client's decision

Answer

Brokers have no disclosure obligations

Answer

Only disclose what the client asks about

Answer

Only disclose positive aspects of the property

Question 5

What continuing professional development does RERA require for licensed brokers?

Accepted Answer

Ongoing training and education to maintain market knowledge, regulatory awareness, and professional competence for license renewal

Answer

No CPD is required after initial licensing

Answer

Only attend one workshop per year

Answer

CPD is voluntary for experienced brokers

Question 6

How should RERA brokers handle confidential client information?

Accepted Answer

Maintain strict confidentiality of client financial information, negotiating positions, and personal details, only sharing with authorized parties with client consent

Answer

Client information can be shared freely

Answer

Confidentiality only applies during the transaction

Answer

Only financial information is confidential