EMS 3666 Real Estate Brokerage II

EMS 3666 Real Estate Brokerage II

Course code: 
EMS 3666
Department: 
Law and Governance
Credits: 
7.5
Course coordinator: 
Paul Henning Fjeldheim
Product category: 
Bachelor
Portfolio: 
Bachelor of Real Estate - Programme Courses
Semester: 
2020 Spring
Active status: 
Active
Teaching language: 
Norwegian
Course type: 
One semester
Introduction

Real Estate Brokerage II covers a few particular subject areas within the estate agency business. It is based on Real Estate Brokerage I with an in-depth study of the subject areas farm- and forest properties. Quality assurance of real estate services is also covered in this course.

Learning outcomes - Knowledge

During the course students should:

  • Develop knowledge of the practical consequences of the demands the public, customers, government agencies, real estate business, etc. stand for the exercise of the real estate profession in specific areas.
  • In the field of tax law, students learn about the law of wealth and income taxation and a thorough knowledge of the law on taxation of gains and deductions for losses on disposal of real property.
  • Students should also be familiar with the rules on inheritance tax.
Learning outcomes - Skills

After completing the course, students will be able to:

  • Solve problems relating to real estate trading
  • Conduct real estate transactions within the agricultural and forestry properties. Carry out the transaction and prepare them for settlement.
  • Apply the law of the transaction type in practice.
  • Able to handle all document related to the transaction, including the design contracts associated with each transaction.
  • Take a position on questions of taxation on the purchase and sale of property, to the extent that under the law and practice expected of a real estate agent.
General Competence

Students will demonstrate the ability for critical reflection and ethical awareness related to real estate transactions and have an awareness of the legal standards and ethical principles that underlie the rules of real estate legislation.

Course content
  1. Agriculture and forestry:
    • Similarities/differences with/from housing transactions
    • Importance of concession/allodium for the sale
    • Designing a property description/prospectus
    • Marketing
    • Contract and accompanying documents
  2. Compulsory sale
  3. Quality assessment of the estate agent service and ICT regulation - requirements for estate agencies
  4. Cultural monument
  5. Tax law
    • Tax law regulations and the rules of the Directorate of Taxes on valuation and taxation of real estate.
    • The rules of the Income Tax Act on income taxation of real estate during ownership (direct tax assessment and indirect tax assessment)
    • The income tax rules on taxation of gains and tax allowances for losses incurred in connection with the sale of real estate.
    • Property tax
    • Property value taxation
    • Tax rates used for the various forms of taxation
Teaching and learning activities

The course consists of 40 lecture hours covering the various topics in the syllabus. The lecture plan gives a detailed description of the topics covered. 

As part of the teaching programme the students might be divided into small discussion groups and will work on assignments associated with each topic. The assignments will be discussed and reviewed in class after the discussion group work. The lecture form of teaching requires that the students study the syllabus and the rules of law for the topic in question before each lecture. The students are required to bring the code of laws and other study resources to the lectures and become familiar with them while studying the various topics. Parts of the syllabus must be studied through self-tuition. 

Students will have the opportunity to submit a written work for correction and feedback.

Software tools
No specified computer-based tools are required.
Qualifications

Higher Education Entrance Qualification.

Required prerequisite knowledge

The course is based on Real Estate Brokerage I.

Exam categoryWeightInvigilationDurationSupport materialsGroupingComment exam
Exam category:
Submission
Form of assessment:
Written submission
Exam code:
EMS36661
Grading scale:
ECTS
Grading rules:
Internal and external examiner
Resit:
Examination every semester
100Yes5 Hour(s)
  • Etiske regler for Norges eiendomsmeglerforbund (document)
  • Laws and regulations, including offprints of laws and law drafts
Individual
Exams:
Exam category:Submission
Form of assessment:Written submission
Weight:100
Invigilation:Yes
Grouping (size):Individual
Support materials:
  • Etiske regler for Norges eiendomsmeglerforbund (document)
  • Laws and regulations, including offprints of laws and law drafts
Duration:5 Hour(s)
Comment:
Exam code:EMS36661
Grading scale:ECTS
Resit:Examination every semester
Type of Assessment: 
Ordinary examination
Total weight: 
100
Workload activityDurationType of durationComment student effort
Teaching34Hour(s)
Other in classroom6Hour(s)
Prepare for teaching45Hour(s)
Self study48Hour(s)
Group work / Assignments60Hour(s)
Examination5Hour(s)
Expected student effort:
Workload activity:Teaching
Duration:34 Hour(s)
Comment:
Workload activity:Other in classroom
Duration:6 Hour(s)
Comment:
Workload activity:Prepare for teaching
Duration:45 Hour(s)
Comment:
Workload activity:Self study
Duration:48 Hour(s)
Comment:
Workload activity:Group work / Assignments
Duration:60 Hour(s)
Comment:
Workload activity:Examination
Duration:5 Hour(s)
Comment:
Sum workload: 
198

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.