EIE222 Real Estate Valuation
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Showing course contents for the educational year 2021 - 2022 .
Course responsible: Sølve Bærug
Teachers: Håvard Steinsholt
ECTS credits: 10
Faculty: Faculty of Landscape and Society
Teaching language: NO
Teaching exam periods:
This course starts in Spring parallel. This course has teaching/evaluation in Spring parallel.
Course frequency: Annually
First time: Study year 2011-2012
Basic theory (lectures) of valuations, measurement of value, basic economic rent: approximately 35 %. Practical valuation of dwellings, commercial real estate, framland, forest, outlying fields, and more. Valuation of whole or parts of property in the free market: approximately 60 %. Different related topics such as changing of owners, securing deals, etc.: approximately 5 %. Lectures on practical valuation are coordinated with work on the project(s).
After completed course, the student should have knowledge of real estate valuation on:
- Specifics of real estate
- Terminology and concepts
- Valuation purposes and valuers
- Organization and standards
- Market value, preferences and information
- Deep knowledge on the sales comparison method
- Investment method, residual method, profits method, cost based methods
- When to use which method
After completed course, the student should be able to, when sufficient information is known:
- Appraise the market value of a residential property
- Appraise the market value of a commercial property
- Appraise the investment value of farmland according to a schematic metod
- Appraise the investment value of forest land according to a schematic metod
After completed course, the student
- Masters use of references in a report
- Can critically evaluate a valuation report
- Can reflect on the ethics of real estate valuation
The course builds mainly on group-based projects in combination with lectures.
Some supervision on the project.Study platform https://nmbu.instructure.com/CanvasTimetable https://cloud.timeedit.net/nmbu/web/student/TimeEdit
Bærug, S. (2017). Verdsetting av fast eiendom - en innføring. Universitetsforlaget.A list of supporting literature will be handed out at the first lecture.
EIE100 or the equivalent.
Submission of a project plan and one or more excursions.
Group work and final assignment
Lectures: ca. 30 hours. Excursion: ca. 4 hours. Structured guidance on the projects ca. 6 hours. Group work: ca. 110 hours. Self-study: ca. 100 hours.
Minimum requirements for entrance to higher education in Norway (generell studiekompetanse)
Type of course:
30 hours of lectures, 4 hours of excursion. 6 hours of structured guidance on the project.
An external examiner participates in the evaluation of all the candidates' examination answers.
Discussions about the content of the course and how it is conducted are fixed topics during the examination conference.
Examination details: Term paper: Letter grades