EIE222 Real Estate Valuation

Credits (ECTS):10

Course responsible:Sølve Bærug

Campus / Online:Taught campus Ås

Teaching language:Norsk

Course frequency:Annually

Nominal workload:Lectures: ca. 32 hours. Excursion: ca. 2 hours. Structured guidance on the projects ca. 6 hours. Group work: ca. 110 hours. Self-study: ca. 100 hours.

Teaching and exam period:This course starts in Spring parallel. This course has teaching/evaluation in Spring parallel.

About this course

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.

Learning outcome

Knowledge:

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

Skills:

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

General qualifications:

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
Can reflect on real estate valuation and sustainable development, emphasizing goal 6 and 15
Can reflect on real estate valuation and innovation

Learning activities
The course builds mainly on group-based projects in combination with lectures.
Teaching support
- Some supervision on the project.
- Study platform Canvas
- Timetable TimeEdit
Prerequisites
EIE100 or the equivalent.
Assessment method
Final assignment. Collective evaluation for all participants in each assignment. Individual assignment is acceptable.
The intention is to test the candidates ability to apply the theory of real estate valuation in simplified real estate valuation situations.

Term paper Grading: Letter grades Permitted aids: C3 All types of calculators, all other aids – including digital aids
Examiner scheme
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.
Mandatory activity
Submission of a project plan. The project plan must be deemed "passed", but do not count towards the final grade.
Notes
Can be followed without personal presence at NMBU Ås
Teaching hours
32 hours of lectures, 2 hours of excursion. 6 hours of structured guidance on the project.
Admission requirements
Minimum requirements for entrance to higher education in Norway (generell studiekompetanse)