APPLIES TO ACADEMIC YEAR 2015/2016 Norwegian version

EMS 3525 Real Estate Brokerage I

Responsible for the course
Paul H Fjeldheim

Department
Department of Law

Term
According to study plan

ECTS Credits
15

Language of instruction
Norwegian

Introduction
In accordance with the estate agency act, in force from 1 January 2008, formal estate agency competence or legal competence is required of persons involved in the sale and purchase of real estate in the estate agencies.

Learning outcome
Acquired knowledge
The objective of the course Real Estate Brokerage I is to provide the students with knowledge on what practical consequences the demand by the general public, clients, public authorities, the estate agency sector, etc. have on the execution of the estate agency profession, including requirements related to the professional and personal conduct of the estate agent.

Acquired skills
The students will learn how to deal with concrete tasks in connection with estate transactions, the drawing up of contractual documents and different types of contracts.
On completion of the course the students should be able to finalize all types of real estate transactions except transactions related to agricultural and forest properties, commercial properties and the sale of new projects, which are dealt with in the course Real Estate Brokerage II and III. The student must be able to carry out the transaction and prepare it ready for settlement. The student must be able to apply the legal rules pertaining to the different types of transactions in practice. The student must be able to carry out all the document processing related to the transaction, including drawing up contracts in connection with each transaction. The teaching is closely related to the teaching in the courses Law for Estate Agents and Settlement in Connection with Property Transactions.

Reflection
The students must be able demonstrate an ability of critical reflection and ethical awareness in connection with property transactions, as well as an awareness of the ethical standards and ethical principles on which the estate agency legislation is based.

Prerequisites
The 1st year of the Bachelor's Programme in Business Administration or equivalent.

Compulsory reading
Books:
Bråthen, Tore og Margrethe Røse Solli, red. 2011. Lærebok i praktisk eiendomsmegling. Del 1. Rev. utg. Norges eiendomsmeglerforbund. Hele boken unntatt kap. 16
Bråthen, Tore. 2013. Eiendomsmeglingsloven : lov av 29. juni 2007 nr. 73 om eiendomsmegling : kommentarutgave. Universitetsforlaget. Kapittel 1, 4, 5, 7, 8.
Edvardsen, Knut Ivar ... [et al.]. 2009. Boligkjøperboka : undersøk boligen før du kjøper. SINTEF Byggforsk. SINTEF Byggforsk Håndbok ; 2
Norges Eiendomsmeglerforbund. Norges Eiendomsmeglerforbunds håndbok. Siste utg. Norges Eiendomsmeglerforbund
Wyller, Christian Fr. 2009. Boligrett. 5. rev. utg. C. F. Wyller

Other:
Relevante lovtekster (Norges Lover, særtrykk m.v.)


Recommended reading

Course outline
General introduction

• Historical background: emergence and development of the profession
• Introduction to the role and tasks of the estate agent. Definition of the responsibilities of the estate agent in relation to his/her customers. Definition of the concept of intermediary.
• Introduction to the concept of generally accepted brokerage principles. Definition of generally accepted broker principles. Making students aware that the concept of generally accepted brokerage principles and ethics in practice are central to the profession of the estate agent. Ethics will be a main theme in the teaching and lecturers will use examples to show which ethical dilemmas an estate agent may face in his/her daily work.
• External parameters for the real estate profession. Relations to the public authorities such as the Banking, Insurance and Securities Commission of Norway, the Norwegian Competition Authority, the Consumer Council and the tax authorities.
• Performing various types of assignments, starting from the assignment is obtained until settlements is achieved.

• EMS 3526 Real Estate I, 1st semester - fall
• EMS 3527 Real Estate I, 2nd semester - spring