Have you witnessed these unethical behaviours when dealing with real estate agencies and brokers?
1- Engaging with Unlicensed Individuals: Collaborating with unlicensed individuals in real estate transactions is not only unethical but can also be illegal in many jurisdictions including UAE. Well, you will be surprised that some agencies dare to do that …!
2- Concealing Vital Information: Failing to disclose critical information about a property, such as structural issues or legal concerns.
3- Undisclosed Dual Agency: Operating as a dual agent without informing both parties in a transaction is considered an unethical practice.
4- Conflicts of Interest Mismanagement: Brokers who mishandle conflicts of interest, putting their own financial gain ahead of their clients, are engaging in unethical conduct.
5- Misrepresentation and Deception: Providing false or exaggerated information about a property without proper references just to convince illegally the buyer.
If you did witness or lived any of these behaviours occurring in a real estate transaction, it’s advisable to take legal action immediately and report the misconduct to the appropriate authorities.
Lawyer, Financial Crimes & Cyber Crimes Expert