EMS 3528 Real Estate Brokerage I
EMS 3528 Real Estate Brokerage I
According to the Real Estate Brokerage Act, there are requirements for formal real estate brokerage expertise or legal competence for individuals engaging in brokerage activities within real estate brokerage firms.
The aim of the Real Estate Brokerage 1 course is to provide students with knowledge of the practical implications of the requirements set by the public, clients, government authorities, the real estate brokerage industry, etc., for the practice of the real estate brokerage profession. This includes requirements for the professional and personal conduct of real estate brokers.
Students will learn to solve specific tasks related to real estate transactions and the drafting of various agreement documents. Upon completing the course, students should be able to carry out all types of real estate transactions, except for agricultural and forestry properties, commercial properties, and the sale of new projects covered in Real Estate Brokerage 2 and 3. Students should be able to execute the transaction and prepare it for settlement. They should be able to apply the legal rules for the relevant transaction types in practice and handle all document processing related to the transaction, including drafting contracts for each transaction. The teaching is closely related to the teaching in Real Estate Law 1 and Settlement of Real Estate Transactions.
Students should demonstrate the ability for critical reflection and ethical awareness related to real estate transactions and have a conscious understanding of the legal standards and ethical principles underlying the regulations in real estate brokerage legislation.
General Introduction
- The emergence and development of the profession.
- Introduction to the role and tasks of a real estate broker. Clarification of the liability relationship that a real estate broker has with their clients. Clarification of the term intermediary.
- Introduction to the concept of good brokerage practices. What contributes to the formation of the concept of good brokerage practices. Emphasizing to students that the concept of good brokerage practices and ethics are central to the practice of the real estate brokerage profession. Ethics will be a recurring theme throughout the course, and through examples, lecturers will illustrate the ethical dilemmas a real estate broker may face in their daily work.
- Framework conditions for the practice of the real estate brokerage profession, including relations with government authorities, including the Financial Supervisory Authority, the Competition Authority, consumer authorities, and tax authorities.
- Execution of various types of assignments, from obtaining the assignment to completing the settlement. Legal rules regarding the lease of real property.
Subtopics
- Who can perform which tasks in a real estate transaction?
- How to obtain assignments
- Proposal drafting
- Use of computer tools
- Conducting an inspection
- Gathering necessary information
- Assignment agreement
- Marketing and promotional activities
- Measurement of areas
- Preparation of sales documents
- Preparation of advertisements
- Preparation of other sales documents
- Conducting a viewing
- Bidding
- Conducting various types of real estate transactions
- Document tax
- Subdivision
- Appraisal
- Building science/history
- Building permit
- Rental of real property
- In-depth discussion of forms of ownership
- Money laundering
The course consists of a total of 40 course hours. Teaching is conducted through lectures, group work, and practical problem-solving. Additionally, assignments and cases will be distributed, which are expected to be solved individually. Students will have the opportunity to submit written assignments for grading and feedback.
There are no specific computer-based tools required for the course, but the following web addresses are important: www.lovdata.no www.eiendomsverdi.no and www.tinglysing.no
This course satisfies the qualification requirement for assistants to responsible brokers as per the Real Estate Brokerage Act § 4-4 Assistants to Responsible Brokers, 1st paragraph, and the Regulations on Real Estate Brokerage § 4-9 Assistant Exam, 1st paragraph.
Business economics studies or equivalent.
| Assessments |
|---|
Exam category: School Exam Form of assessment: Written School Exam - digital Weight: 100 Grouping: Individual Support materials:
Duration: 5 Hour(s) Exam code: EMS 35281 Grading scale: ECTS Resit: Examination every semester |
| Activity | Duration | Comment |
|---|---|---|
Teaching | 28 Hour(s) | Parts of the teaching will be carried out digitally. |
Feedback activities and counselling | 12 Hour(s) | Lecturer-led task training on webinars across the campus (this gives students the choice between 4 times for participation one or more times). |
Prepare for teaching | 45 Hour(s) | |
Student's own work with learning resources | 50 Hour(s) | |
Group work / Assignments | 60 Hour(s) | |
Examination | 5 Hour(s) |
A course of 1 ECTS credit corresponds to a workload of 26-30 hours. Therefore a course of 7,5 ECTS credit corresponds to a workload of at least 200 hours.