What Is the Estate Agent Code of Conduct in Gibraltar?
Estate agents operating in Gibraltar are subject to a Code of Conduct issued under the Fair Trading Act 2015. The Code sets standards for how real estate agents deal with buyers, sellers, landlords and tenants and covers areas including fees, deposits, client money, property advertising, offers, anti-money laundering checks, confidentiality and complaints.
The Code is designed to promote fair practice, integrity and consumer protection across Gibraltar's real estate sector. Some parts reflect legal obligations, while others set out standards of best practice expected by the Gibraltar Office of Fair Trading.
CENTURY 21 Gibraltar operates within this framework. This page explains the main protections and responsibilities in practical terms. For the complete regulatory wording, you should refer to the official Code published by the Office of Fair Trading.
At a Glance: Gibraltar Estate Agent Code of Conduct
- Estate agents in Gibraltar are subject to a Code of Conduct issued under the Fair Trading Act 2015.
- The Code covers written terms of business, fees, commissions, deposits and client money.
- Property advertising should be accurate, authorised and not misleading.
- Offers should be communicated promptly, with written notification normally provided within two working days.
- Estate agents must comply with Gibraltar AML, KYC and customer due diligence requirements.
- Client money must be kept separately from the estate agent’s own business funds.
- The Code also covers confidentiality, data protection, tenancy procedures and complaint handling.
- The Gibraltar Office of Fair Trading oversees compliance and publishes the official Code.
Who Does the Code Apply To?
The Code applies to real estate agents conducting business in Gibraltar who are required to hold the appropriate business licence under the Fair Trading Act 2015.
It governs the professional relationship between an estate agent and its clients while also setting standards for how other parties involved in a property transaction should be treated.
In practice, that means the Code is relevant whether you are selling a property, buying a home, letting a property as a landlord or renting as a tenant.
What Should You Expect From a Gibraltar Estate Agent?
The Code requires estate agents to provide a service consistent with fairness, integrity and best practice. Agents should understand who their client is, recognise the duties they owe that client and treat everyone involved in the transaction fairly and courteously.
Estate agents should also avoid dishonest, oppressive or misleading methods of obtaining business and should deal with client correspondence promptly.
These principles form the foundation of the more detailed requirements that follow.
Conflicts of Interest
Estate agents should avoid conflicts of interest and disclose any existing or potential conflict to the relevant parties as early as possible.
For example, if an agent, employee or associate owns a property being marketed, or has another interest in it, that interest should be disclosed in writing before negotiations begin.
This helps ensure that clients understand when an agent may have an interest beyond the normal agency relationship.
Terms of Business, Fees & Commissions
One of the most important protections in the Gibraltar Code is the requirement for clear written Terms of Business.
These should explain the basis on which the estate agent has been instructed, together with any fees, commissions or other charges that may reasonably arise. The terms should be clear, fair and written in plain language.
Clients should also be given sufficient time to consider the Terms of Business before agreeing to instruct the agent.
Fees Must Be Transparent
The Code states that estate agents should be clear and transparent about their fees and avoid hidden costs.
Where commission is calculated as a percentage, the basis of that calculation should be explained. Where a fixed fee applies, the amount should be clearly stated.
The Code also addresses situations where more than one estate agent may potentially claim commission. Where this risk exists, the client should be made aware before becoming committed to another agency agreement.
Deposits & Client Money
The treatment of deposits and client money is one of the most important areas covered by the Code.
Before accepting a deposit, the purpose of the payment and the circumstances in which it may be held, returned, forfeited or applied towards a sale, purchase, lease or tenancy should be explained in writing and agreed by the relevant parties.
The Code also provides that consumer deposits should generally be treated as being held on a subject-to-contract basis and in a client account unless the parties expressly agree otherwise in writing.
Separate Client Accounts
Under section 66(2) of the Fair Trading Act 2015, deposits and other client monies must be held in a separate client account rather than being mixed with the estate agent's own operating funds.
The Code also expects client accounts to be reconciled regularly, with records identifying which funds belong to which client.
This separation of client money is an important safeguard for buyers, sellers, landlords and tenants.
Property Valuations & Market Advice
When an estate agent advises a seller or landlord on the sale or rental value of a property, that advice should be given in good faith and reflect the agent's professional opinion.
Market-value advice should take account of the property itself and current market conditions and, where possible, be supported by comparable evidence.
An agent should not misrepresent the market value of a property.
If you are considering selling or letting your property, you can request a property valuation from CENTURY 21 Gibraltar.
Property Advertising
The Code also sets clear standards for property marketing.
An estate agent should not advertise a property without the owner's written permission. Property advertising should not be misleading, and statements used in advertising should be capable of objective substantiation.
Properties being advertised should also be available at the time they are marketed, and estate agency websites should be kept reasonably up to date.
These requirements help buyers and tenants make decisions based on information that accurately reflects the property being offered.
You can view our current properties for sale in Gibraltar and properties for rent directly on our website.
Viewings, Access & Keys
The Code contains detailed standards governing property viewings and access.
Estate agents should take instructions from their clients about how viewings are to be conducted, keep records of arranged viewings and communicate feedback within agreed timescales.
Where an agent holds keys to a property, those keys should be kept securely. Records should also be maintained showing when keys are issued, to whom they are issued and when they are returned.
Where a property is occupied, viewings should normally be arranged with the occupier in advance. The Code recommends giving 24 hours' notice where possible.
Offers & Negotiations
When an offer is made on a property, the estate agent should notify the client as soon as reasonably possible and, in any event, provide written notification within two working days unless the client has specifically instructed otherwise in writing.
Before an offer is accepted, the agent should also take reasonable steps to establish the buyer's financial position. This can include determining whether the purchaser requires a mortgage, is buying with cash or is dependent on the sale of another property.
Once an offer has been accepted subject to contract, the agent should explain the next steps, the likely process towards completion, the purpose and treatment of any reservation deposit and whether the property will remain on the market.
For a broader explanation of what happens from offer through to completion, see our guide to buying property in Gibraltar.
The Agent's Role Between Offer & Exchange
After an offer has been accepted, the estate agent continues to play an important coordinating role, but the Code makes a clear distinction between estate agency work and the independent legal and mortgage processes.
The agent should monitor progress, keep the client informed and assist where appropriate, but should not improperly influence the legal process or the mortgage lending process.
The legal investigation of the property is carried out independently by the buyer's lawyer. Our Gibraltar property due diligence guide explains the title, lease, planning, service-charge and other property checks typically considered during a purchase.
Anti-Money Laundering, KYC & Source of Funds
Estate agents in Gibraltar are subject to anti-money laundering and counter-terrorist financing obligations.
The Code requires estate agents to comply with the Proceeds of Crime Act 2015 and the Office of Fair Trading's AML guidance for real estate agents. Appropriate customer due diligence must be carried out before entering into certain business relationships and transactions.
For property buyers and sellers, this can involve identity verification, proof of funds, source of funds and, where appropriate, source of wealth and beneficial ownership checks.
We explain these requirements in detail in our AML, KYC & Source of Funds Checks for Gibraltar Property guide.
Landlords, Tenants & End-of-Tenancy Procedures
The Code does not apply only to property sales. It also includes standards relating to lettings and the end of tenancies.
Where an estate agent is involved in the end of a tenancy, tenants should be given guidance about preparing the property for checkout, returning keys and meeting relevant tenancy obligations.
Where deductions from a tenancy deposit are proposed, they should be reasonable and supported by the circumstances of the tenancy, including relevant inventories, checkout reports and contractual obligations.
The Code also provides that any undisputed amount of a deposit should, where possible, be returned promptly rather than being retained simply because another part of the deposit is disputed.
Landlords can also read our Gibraltar property management services guide for more information about professional management and tenancy administration.
Confidentiality & Data Protection
Estate agents should treat transactions and communications with clients as confidential and respect the privacy rights of the people whose information they process.
Property transactions often involve sensitive personal and financial information, particularly during AML checks, mortgage applications and contract preparation.
CENTURY 21 Gibraltar's use of personal information is explained separately in our Privacy Policy.
Our website's broader conditions of use are set out in our Terms & Conditions.
Complaints & the Role of the Office of Fair Trading
The Gibraltar Code requires estate agents to maintain a written complaints procedure.
Complaints should be recorded and investigated appropriately. Written complaints should be acknowledged in writing, and the complaint should be considered by a senior member of staff who was not directly involved in the transaction where appropriate.
If the matter cannot be resolved through the estate agent's internal procedure, the complainant should be told how the matter may be referred to the Office of Fair Trading.
The OFT may investigate estate agency practices following a complaint and may take departures from the Code into account when considering whether business practices are harmful to consumers.
For regulatory information or the official Code itself, visit the Office of Fair Trading Codes of Conduct page.
CENTURY 21 Gibraltar's Commitment
For CENTURY 21 Gibraltar, the Code is not simply a page on a website. It forms part of the professional framework within which we deal with clients and property transactions in Gibraltar.
Our approach is to provide clear information, explain the role of the estate agent, maintain appropriate records, handle client information carefully and work alongside lawyers, lenders and other professional advisers without replacing their independent roles.
We also believe that clients should understand the process they are entering into. That is why our website includes detailed guides covering buying property in Gibraltar, mortgages, AML and source of funds and other important stages of a Gibraltar property transaction.
Read the Official Gibraltar Estate Agent Code of Conduct
This page is intended as a practical explanation of the Code and does not replace the official regulatory document.
The complete Code of Conduct for Real Estate Agents is published by the Gibraltar Office of Fair Trading and can be accessed through the OFT's official website.
Read the official Gibraltar Estate Agent Code of Conduct
Frequently Asked Questions
Is there an official Code of Conduct for estate agents in Gibraltar?
Yes. The Gibraltar Code of Conduct for Real Estate Agents is issued under the Fair Trading Act 2015 and applies to real estate agents conducting business in Gibraltar who require the appropriate business licence.
Who regulates estate agents in Gibraltar?
The Gibraltar Office of Fair Trading has responsibility for business licensing and consumer-protection matters affecting estate agents and may investigate business practices following complaints.
Do Gibraltar estate agents have to keep client money separately?
Yes. Section 66(2) of the Fair Trading Act 2015 requires client deposits and client monies to be held in a separate client account. The Code also sets standards for the management and reconciliation of those accounts.
Do estate agents have to pass offers to sellers?
The Code states that estate agents should notify their client of offers as soon as reasonably possible and provide written notification within two working days, unless the client has specifically instructed the agent in writing not to communicate a particular amount or type of offer.
Can an estate agent advertise any property?
No. The Code states that a property should not be advertised without the owner's written permission. Advertising should not be misleading and statements made about a property should be capable of objective substantiation.
Are estate agents required to carry out AML checks?
Yes. Gibraltar estate agents must comply with applicable anti-money laundering legislation and Office of Fair Trading guidance. Depending on the transaction, this can include identity, source of funds, source of wealth and beneficial ownership checks.
What should I do if I have a complaint about an estate agent?
You should normally raise the matter first through the estate agent's own complaints procedure. If the matter remains unresolved, the agent should explain how the complaint may be referred to the Gibraltar Office of Fair Trading.
Speak to CENTURY 21 Gibraltar
If you are buying, selling, renting or letting property in Gibraltar and would like to understand how the process works, contact CENTURY 21 Gibraltar.
Our team can explain the estate agency process, the information required from you and the next steps involved in your particular transaction.
Important: This page is a general explanation of the Gibraltar Estate Agent Code of Conduct and is not legal advice or a substitute for the official Code, the Fair Trading Act 2015 or other applicable legislation. Where there is any difference between this summary and the official regulatory material, the official material takes precedence.
