EMS 3525 Real Estate Brokerage I
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.
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.
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.
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.
- History, how has the profession occurred and how it has evolved
- Introduction to the estate agent's role and tasks. Clarify the estate brokers responsibility in relation to their customers. Clarify the term intermediary.
- Introduction to the concept good broker practice. What helps to form the concept of good estate agency practice. Sensitise students that the concept of good brokering practices and ethics in practice is central in the exercise of the real estate profession. Ethics is essential throughout the teaching and lecturers will by examples show which ethical dilemmas a real estate agent may face in everyday life.
- Conditions for exercise of the real estate profession. Relations with public authorities including the Financial Supervisory Authority, the Competition Authority, consumer authorities and tax authorities.
- Implementation of the various types of operation of the mission obtained the settlement has been completed. Rules for the lease of real property.
The course is conducted with a total of 85 teaching hours. Teaching is by lectures, group work and practical problem solving. It will also be shown exercises and cases that need to be solved on an individual basis.
Students will have the opportunity to submit written work for correction and feedback.
This course meets the eligibility requirements for assistants to the responsible broker ref. Law on real estate § 4.4 Assistants to responsible broker, section 1 of the Regulations on Real Estate § 04.09 An assistant exam, section 1.
This course with 15 credits will be lectured for the last time in the autumn of 2023. Re-sit examinations will be offered in spring 2024, autumn 2024 and spring 2025.
Deviations in teaching and exams may occur if external conditions or unforeseen events call for this.
The 1st year of the Bachelor's Programme in Business Administration or equivalent.
Form of assessment:
Internal and external examiner
Examination every semester
|Form of assessment:
|Examination every semester
Feedback activities and counselling
Prepare for teaching
Student's own work with learning resources
Group work / Assignments
A course of 1 ECTS credit corresponds to a workload of 26-30 hours. Therefore a course of 15 ECTS credit corresponds to a workload of at least 400 hours.