New Business Ethics Code in Selling and Renting Real Estate adopted

The general meeting of the Chamber of Commerce of Serbia has adopted the Business Ethics Code in Selling and Renting Real Estate, which defines relations between parties in the fields of mediation and aims to reduce misconduct and strengthen the clients' trust.

The code pertains to a representative group of mediators at the CCIS, which is representative as it has 155 business entities which are members and which employ over 40% of the labor force in this field in Serbia, covering 60-70% of the market.

– The code is very important for the mutual cooperation of mediators, as the nature of this business is such that subjects need to cooperate in selling, purchasing and renting real estate – says Nenad Djordjevic, the deputy president of the group, and adds that the previous code was adopted in 2012.

He says that the code defines the relation of the mediator toward the users of their services and adds that the whole field is now better regulated.

– Those who implement the ethical code have much bigger obligations than their colleagues who have not signed the code and who are not members of the mediators' group at the CCIS, so the level of protection for users is that much greater – he emphasizes.

Mica Djokovic, the president of the Association of Independent Court Experts and Valuers and the owner of the Old Royal real estate company, says that the code was adopted in line with the market conditions and that it reflects the need for self-regulation.

The code envisages the formation of an arbitration commission in charge of supervising the compliance with the code.

– Mediators can report unethical conduct of their colleagues, and the final decision is made by the Court of Honor of the Chamber of Commerce of Serbia – Nenad Djordjevic says.

Privredna komora Srbije

Old royal d.o.o. Beograd

Udruženje samostalnih sudskih veštaka i procenitelja vrednosti nepokretnosti Beograd

Nenad Đorđević

Mića Đoković

Business Ethics Code in Selling and Renting Real Estate

ethical code

Court of Honor at the Chamber of Commerce of Serbia