Roles of professionals and services in the real estate market

• Author: Bergsaker, Trygve
• Pages: 15-15

Consum er mar ket stud y on the fun ctio ning of the r eal estate servi ces for consum ers in the EU – Coun try Fiche Norw ay

15

3. Roles of professionals and serv ices in t he real estat e mar ket

Ta ble 7: R ole of p rof essi ona ls i n t he re al es tate m ar ket

Est ate age nt

Pr ope rty

va lua t or 3

La w ye r/ Ad voc at e/

Solic ito r

No t ary

Ba nk

Lice nce d

con veya nce r

Te chnica l e xper t

( archit ect ,

en gin eer,

su rv eyo r)

Ma in f unct ion :

do es t he

pr ofe ssiona l

typ ical ly w ork

in dep end ently

or as pa rt of a

fi rm or

an othe r

or gan isation?

Part of a fir m

Independ ent or

part of a fir m

Rare i nvolv emen t

(e xcept wh en acti ng

as est ate agent ).

Part of a fir m.

No

N/ A

No

Indepen dent or par t

of a firm

Exte nt of

en gage me nt

( at whi ch

po int (s ) doe s

ea ch

pr ofe ssiona l

inte rve ne in

the pr oce ss?)

The w hole

pr ocess, from

mat ching th e

part ies to tr ansf er

of tit le d eed and

pay m ent.

Bef ore the

pr oper ty is

ann ounce d for

sale.

May act as est ate

agent . Oth erw ise:

Rare i nvolv emen t.

-

-

-

Before the p rope rty

is ann ounced for

sale.

Ma nd ator y

in vo lv em e nt

No

No

No

-

N/ A

-

No

Ho w ar e t hei r

fe es/ ch arg es

st ructur ed

Most oft en

com mi ssion,

usu ally 1-3 % +

VAT + ex penses

Fixed price

See colu mn esta te

agent . Oth erw ise:

Rate per hour.

-

-

-

Fixed price

3 I n som e EU co unt ries, th e rea l est ate prop ert y v aluat ors are r egul ated as a pro fessio n th at is sep arat e fr om estat e ag ents (e. g. H ungar y, Lith uania , Lat via ); the ir s ervi ces m ight be oblig ator y,

espe cially wh en t akin g m ort gage loans .