Dissertations / Theses: 'Swedish real estate agents'

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Arnaout, Sacha, and William Bucaro. "Fastighetsmäklarens praktik : En studie på svenska mäklarbyråer." Thesis, Malmö universitet, Fakulteten för kultur och samhälle (KS), 2021. http://urn.kb.se/resolve?urn=urn:nbn:se:mau:diva-43740.

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Praktik medför möjligheter till en förståelse av mäklarbranschen samt vilka färdigheter som krävs för att vara verksam i den aktuella yrkesgrenen. Fastighetsmäklarinspektionen ställer krav på att 10 veckors praktik ska vara genomfört innan studenten får vara verksam som mäklare i Sverige. Detta krav är dock ospecificerat i jämförelse med den praktik som exempelvis sjuksköterskor genomför, vilket lämnar utrymme för mäklarbyråer att utforma praktiken mer fritt. Samtidigt finns det ett stort antal nyregistrerade mäklare som väljer att byta karriär enligt statistik. Denna studie har utformats i syfte att försöka förstå hur mäklarbyråer omvandlar Fastighetsmäklarinspektionens allmänna råd i praktiken, samt hur praktikanter upplevt praktikupplägget. En kvalitativ undersökning har genomförts genom intervjuer med sju olika respondenter. Studien visar att praktikperioden ser olika ut anhängig av var studenten praktiserar trots Fastighetsmäklarinspektionens allmänna råd för praktikens utformning, vilket i sin tur påverkar praktikanten. Därtill finns det bland samtliga intervjuade praktikanter en viss osäkerhet avseende arbetsutövandet efter praktikperioden, samtidigt som det också visar sig att det finns brister i kvalitetsutvecklingen gällande praktikupplägget hos mäklarbyråerna.
Internships provide opportunities for an understanding of the real estate brokerage industry and the skills required to be active in the profession in question. The Swedish Estate Agents Inspectorate(FMI)has set a requirement that a 10-week internship must be completed before the student can be active as a real estate agent in Sweden. However, this requirement is unspecified in comparison with the internship that, for example, nurses have, which leaves room for real estate agencies to shape the internship. At the same time, there are a number of newly registered real estate agents who choose to change careers according to statistics. This study has been designed to try to understand how real estate agencies transform the FMI’s general advice into practice, and how trainees have experienced the internship. A qualitative survey was conducted through interviews with 7 different respondents. The study showed that the internship period looks different depending on where the student does the internship despite the FMI’s general advice for the design of the internship, which in turn affects the trainee. In addition, there is a lack of knowledge after the internship period for all interns, at the same time as the quality development regarding the internship structure in the real estate agencies, is lacking

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Jingryd, Ola. "Impartial Contract-Engineering in Real Estate Transactions : The Swedish Broker and the Latin Notary." Licentiate thesis, Malmö högskola, Institutionen för Urbana Studier (US), 2008. http://urn.kb.se/resolve?urn=urn:nbn:se:mau:diva-7443.

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Even in the days of an ever closer European union, Europe contains no less than four different legal cultures with respect to real estate conveyances: the Latin-German notary system, the deregulated Dutch notary system, the lawyer/solicitor system, and the Scandinavian licensed real estate broker system. The latter is of particular interest in that Scandinavian brokers play a far larger role in real estate transactions than their European counterparts.This paper examines and compares the Swedish real estate broker and the Latin notary. The Swedish broker is required by law to act as an impartial intermediary, to provide counseling to both parties, and to assist in drawing up all contracts and other documents necessary for the transaction at hand. To that end, the broker must be active and observant of the particular needs of the parties to the present transaction, always striving to enable them to reach equitable and practical agreements so as to prevent future disputes. In other words, the broker is required to tailor the transaction to fit the needs of the buyer and seller.The Latin notary profession prevails in large parts of the world, particularly the Latin-German parts of continental Europe, and Latin America. While there are divergences in the notarial laws of all countries, the similarities are greater still, and it is correct to speak of a single profession throughout all these countries. The notary carries out several important functions, the nexus of which is the authentication of legal documents. In the preparation of these documents, the notary is required to provide impartial counseling in order to tailor the transaction at hand to fit the will and needs of the parties. To uphold the integra fama of the profession, and to safeguard the proper performance of the notarial functions, lawgivers in all countries emphasize the importance of impartiality and integrity. There are national divergences as to the specific rules of conduct related to impartiality, particularly those concerning what activities are considered incompatible with the notariat, but they rest on common principles. Most importantly, not only must the publica fides be honored, it must be seen in the eyes of the public to be honored. The organization and regulation of the notary profession raises important economic issues, particularly with regard to competition/monopoly and market failures. The discussion of the regulation or deregulation of the notariat is by no means settled. Comparing the two professions, it is striking to see the enormous similarities in the legal frameworks and their respective rationales. Two common features are of particular interest. Firstly, both the Swedish broker and the Latin notary are required to assist the contracting parties in the contract phase, drawing up any necessary documents and counseling the parties as to the implications of the transaction. In that respect, both professions function as tailors to the transaction. Secondly, both the broker and the notary are required to act impartially and independently – impartially visavi the contracting parties, and independently in order to preserve the public faith in the independence and integrity of the professions.The similarities can be summarized as a function on the real estate market: impartial counseling and contract-engineering. This function exists alongside other functions, such as the brokers’ traditional matchmaking, or the registration of property rights. This functional approach may prove very useful in all kinds of analyses of the real estate market, whether of political, legal, or economic nature. For instance, with respect to the merits and/or necessity of the Swedish impartiality rule, those wishing to amend the law and introduce a system of overtly partial brokers acting solely on behalf of their principal have to face the question of what is to become of counseling for the principal’s counterpart. Should the counterpart be forced to choose between hiring their own legal counsel or make do without? Further, those wishing to contest the mandatory notarial intervention in real estate transactions have to face the same question: what is to happen to impartial counseling, given not only to the client but also to the client’s counterpart? Both instances illustrate the common feature shared by the two examined professions: impartial contract-engineering and counseling. To complete the picture and cover the whole arena of real estate transactions, the next logical step is therefore to compare and analyze different systems for registration of property rights. Doing so will hopefully achieve a tool for examining the real estate market that will prove useful indeed, particularly in future discussions concerning European harmonization.

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Axelsson, Lars, and Philip Brissman. "Share repurchase announcements and abnormal returns for Swedish listed real estate companies." Thesis, KTH, Bygg- och fastighetsekonomi, 2011. http://urn.kb.se/resolve?urn=urn:nbn:se:kth:diva-82045.

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Asymmetric information in the management-investor relationship implies that the management’s actions will give signals to investors. According to the signalling hypothesis, an announcement of a share repurchase program is interpreted by investors that the management is putting its money where its mouth is, i.e. signalling that the stock is currently undervalued. Using the event study methodology to analyze share repurchases of listed Swedish real estate companies, we find significant short-term abnormal returns of 1,96% on the announcement day and cumulative abnormal returns of 2,32% (although not significant on conventional levels) for the ten first days subsequent to the announcement. At the most fundamental level of corporate finance theory, the Efficient Market Hypothesis stipulates that the whole value of the announcement should be discounted in the stock price immediately. On the other hand, it might be rational for investors to await certainty that the share repurchase program will be executed, before discounting its full value. We find indications of underreaction as the analysis suggests long-term positive stock price reactions to the announcement. The Jensen’s alpha approach utilized in the long-term analysis suggests an average abnormal return of 10,30%, although insignificant on conventional levels, the year following a share repurchase announcement. From a stock investor point of view, the results from this study suggest that buying real estate stocks that announce share repurchase programs can yield positive abnormal returns for investment horizons of 10 days as well as 12 months.

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Sarstedt, Jonna. "Att mäkla på Franska Rivieran som svensk till svenska kunder. Vad skiljer sig från att mäkla i Sverige?" Thesis, University of Gävle, Department of Business Administration and Economics, 2007. http://urn.kb.se/resolve?urn=urn:nbn:se:hig:diva-209.

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Att mäkla på Franska Rivieran som svensk till svenska kunder skiljer sig från att mäkla i Sverige. Exempel på det är att man använder sig av ett juridiskt ombud, en notarie vid kontraktsskrivning i Frankrike. Där förekommer heller inte budgivning då detta är olagligt. Istället förekommer ofta prutning mellan köpare och säljare. Mäklaren arbetar även ofta närmare köparen än i Sverige, då man hjälper denne med kringtjänster som t.ex. att förmedla bankkontakter, hantverkare osv. Förmedling förekommer med fransk mäklarregistrering, med svensk mäklarregistrering och utan någon registrering eller utbildning alls. Detta har skapat irritation hos mäklarna på marknaden, då var och en försvarar sitt sätt att mäkla och betraktar sig som seriös.

To operate as an estate agent on the French Riviera as a Swede to Swedish customers, is quite different from dealing in real estate in Sweden. An example of this is that an articled clerk is required to establish the final contracts in France. Biddings on estates do not exist, as this is not allowed. Instead of this bargaining to bring down the price is often used between the buyer and seller. The estate agent is also working in closer contact with the buyer than In Sweden, as you help with other services as creating bank contacts, recommending craftsmen etc. Estate agents operate with French registration, with Swedish registration and without any registration or education at all. This has created irritation between the real estate agents on this market, as each one of them defends his way to operate, and consider himself serious.

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Berntsson, Amanda, and Sandra Lager. "Energieffektiviseringsstödet till kommuner : Utfall & framtidsutsikter." Thesis, Tekniska Högskolan, Högskolan i Jönköping, JTH, Byggnadsteknik, 2016. http://urn.kb.se/resolve?urn=urn:nbn:se:hj:diva-31095.

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Purpose: Environmental and climate issues are constantly on the agenda. At the climatechange conference in Paris, it was decided that the global average temperature shouldnot increase more than 2°C. This means that the energy consumption must be reduced.With the EU's 2020 targets as a basis, national goals have been set, which means thatSweden will achieve a 20 %increase of the energy efficiency by 2020. The public sectorshould act as a role model, therefore the Swedish Energy Agency was handing out asubsidy between 2010 and 2014 as a contribution to local governments for improvingenergy efficiency in its own organization. The goal of this study is to analyze how theenergy efficiency subsidy has helped municipalities in their work to reduce the energyuse in its real estate, and what remains to do to reach the 2020 target.Method: To reach the goal both a qualitative and quantitative study has been made.The data collection methods was interviews, a document analysis and a literaturereview. A case study has been made together with Herrljunga municipality.Findings: The energy efficiency subsidy has several positive effects. The energy usehas been reduced by 8% between 2009 and 2014 for the whole country and the casestudy object has been reduced by 12%. This can be refer to that the municipality hasprioritized the issue of energy higher. Other positive effects include improved indoorclimate and user behavior and that they have better control over energy consumption.The energy work is proceeding in many municipalities after the subsidy, the work willbe financed with own funds. To achieve the goal they should continue the work thatthey began but also complete it with other actions. This may be, for example: replaceheating- and ventilation systems, train the user group and renovate energy smart.Implications: The study shows that the subsidy has provided a push to energy issuesin the municipalities, the subsidy has resulted in a decreased energy use. After thesubsidy stopped many municipalities continued to work when they have seen thebenefits. The study also shows that it is possible for Sweden's municipalities to achievea reduction of energy use by 20% by 2020 in their real estates. To reach this Swedishmunicipalities needs to continue to work actively with energy issues and make newenergy efficiency measures.Limitations: This study has been limited to the municipality's own real estates. Theresult of the study is not valid for all the municipalities that received the subsidy asindependent but it provides an overview of the outcome of the municipalities together. Every municipality can learn from this report.
Syfte: Miljö- och klimatfrågor är ständigt på agendan, vid klimatmötet i Parisbeslutades att höjningen av jordens medeltemperatur inte får överstiga 2°C. Dettainnebär att energianvändning måste minska. Med EU:s 2020-mål som grund har ettnationellt mål satts upp som innebär att Sverige ska öka energieffektiviteten med 20 %till 2020. Den offentliga sektorn ska agera förebild därför delade Energimyndighetenmellan 2010 och 2014 ut ett bidrag till kommuner och landsting förenergieffektivisering i den egna organisationen. Studiens mål är att undersöka hurEnergieffektiviseringsstödet har hjälpt kommunerna i arbete med att minskaenergianvändningen i sitt fastighetsbestånd samt vad som finns kvar att göra för att nå2020-målet.Metod: För att nå målet har både en kvalitativ och kvantitativ studie utförts.Empiriinsamlingen består av intervjuer, en dokumentanalys och en litteraturstudie. Enfallstudie är gjord tillsammans med Herrljunga kommun.Resultat: Energieffektiviseringsstödet har gett positiva effekter i de kommunalalokalerna. Minskningen av energianvändandet har sjunkit med 8 % mellan 2009-2014för hela landet och fallstudieobjektet har minskat med 12 %. Detta kan hänföras till attden kommunala verksamheten har prioriterat energifrågan högre än innan. Andrapositiva effekter är bättre inomhusklimat och brukarbeteende samt att de fått störrekontroll på energianvändningen. I de flesta kommuner fortlöper energiarbetet efterbidragets slut men med egen finansierade medel. För att nå målet bör man fortsättaarbete som påbörjats men även komplettera det med andra åtgärder. Detta kanexempelvis vara: byta värme- och ventilationssystem, utbilda brukargruppen, renoveraenergismart.Konsekvenser: Studien visar att bidraget har gett ökat fokus till energifrågorna ikommunerna har bidraget lett till en att energiförbrukningen minskat. Efter att bidragetslutade delas ut fortsätter många kommuner med arbetet då man sett vilka vinster detger. Studien visar också att det är möjligt för Sveriges kommuner att nå en minskningav energiförbrukningen med 20 % till 2020 i sitt fastighetsbestånd. För att nå hela vägendit behöver Sveriges kommuner fortsätta arbeta aktivt med energifrågorna och göra nyaenergieffektiviseringsåtgärder.Begränsningar: Denna studie är begränsad till kommunens egna fastigheter. Resultatetav studie är inte giltigt för varje kommun som mottagit bidraget men ger en översiktligbild över utfallet för kommunerna gemensamt. Alla kommuner kan lära något av denna studie.

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Thorslund, Beata, and Nicole Åman. "Voluntary deregistrations among real estate agents." Thesis, KTH, Fastigheter och byggande, 2016. http://urn.kb.se/resolve?urn=urn:nbn:se:kth:diva-189271.

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The primary purpose of the study is to investigate the main reasons why real estate brokers voluntarily choose to de-‐egister themselves after a short time in the profession and to come up with suggestions in order to prevent it. The sudy entails both a quantitative and a qualitative method. The first was conducted hrough a survey to gather information about de--‐registrations throughout the last three years. The qualitative method was applied to reinforce the quantitative survey. This was conducted through interviewing people in the industry. In total, 58 de--‐registrated real estate brokers and six people from the industry participated in the study. Of the 58 who participated in the survey, 81% were women and the remaining 19% men. 97% of participants were less than 30 years old. All were operating as a real estate agent in less than five years. One cannot claim that the deregistration is due to only one reason, the motives for cancellation can be many. However, the tree main reasons are the following; working hours and availability, the salary structure and the pressure and the stress that these factors contribute to. The survey also shows that contributing factors are false expectations about the profession and partly a lack of information from the institutions. Finally, the experience is that there is a gap between the theoretical school and the practical profession. The conclusion of the research is that the internship that is compulsory to do in order to be able to work as a broker should be implemented as an educational requirement, preferably in the beginning of the educational program. Moreover, in order to retain skilled labour, the industry has to improve the working conditions. We believe that the industry winners in the long run will be the companies who focuses on flexibility and differentiated working methods regarding salary and ways of working. In the end of the study it is discussed whether a potential change in the Swedish law, adjusting the work of real estate brokers, would reduce the stress and the pressure about the availability due to the brokers.
Syftet med studien är att utreda de huvudsakliga orsakerna till att många fastighetsmäklare frivilligt väljer att avregistrera sig efter en kort tid som verksamma inom yrket och komma med förslag på vad som kan göras för att motverka detta. I rbetet har en kvantitativ och en kvalitativ metod tillämpats. Den förstnämnda i form av en enkätundersökning för att samla in information om avregistreringar under de senaste tre åren. Den kvalitativa metoden har tillämpats för att fördjupa den kvantitativa undersökningen. Detta i form av intervjuer med verksamma personer i branschen. Sammanlagt deltog 58 avregistrerade fastighetsmäklare och sex personer i branschen i studien. Av de 58 personer som deltog i undersökningen var 81 % kvinnor och resterande 19 % män. Av dessa var 97 % under 30 år och samtliga verksamma som fastighetsmäklare mindre än fem år. Det går inte att säga att avregistreringarna beror av en anledning utan skälen till en avregistrering kan vara många. De tre huvudsakliga skälen är arbetstiderna och tillgängligheten, lönestrukturen och den press och stress de här faktorerna bidrar till. Undersökningen visar att felaktiga förväntningar på yrket och en till viss del bristande information från lärosätena är bidragande faktorer. Slutligen upplevs ett gap mellan skolbänk och yrke som till stor del beror av en teoretisk utbildning inför ett praktiskt yrke. Vi har därför kommit fram till att praktiken som krävs för att kunna arbeta som fastighetsmäklare bör implementeras som ett utbildningskrav, gärna i början på utbildningen. Från branschens sida krävs förbättrade anställningsvillkor för att behålla kompetent arbetskraft. De företag som läggerfokus på flexibilitet och valmöjlighet angående ersättningsmodeller och arbetssätt tror vi kommer vara de stora vinnarna i längden. Mot slutet av arbetet diskuteras om en lagändring i fastighetsmäklarlagen skulle vara aktuell för att minska ansvaret på den enskilda fastighetsmäklaren för att reducera stressen och pressen på tillgänglighet.

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Nordström, Louise, and Sofie Karlssson. "The Swedish Real Estate Market and Macroeconomic Factors." Thesis, Jönköping University, JIBS, Economics, 2008. http://urn.kb.se/resolve?urn=urn:nbn:se:hj:diva-1201.

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The real estate market has been of great interest since the rise in home foreclosures in

US, which started in the late 2006. The purpose of this thesis is to examine a possible

relationship between the factors presented in DiPasquale and Wheaton’s (1996) model

which explains the market linkages between the property market and asset market, and

the Swedish real estate companies listed on the Swedish stock market OMX. The real

estate stock market is, divided in to groups of 3, which represented the dependent

variable. The repo rate, CPI, expected inflation, macro index, disposable income, GDP

and a real estate price index are the explanatory variables. Stockholm Stock Market All-

Share Index (OMXSPI) is also included as a possible explanatory variable.

The main findings in most of the estimations for the groups and years, is that the

OMXSPI is of significance at the 10 percent level. The other variables did not show any

significant result based on the 10 percent significance level,

According to the results it seems like the volatility has increased over time in the real

estate stock market with respect to the OMXSPI. That is; the risk has increased

significantly from the period 1996-1999 to the later periods.

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Katzler, Sigrid. "Risk diversification in the Swedish real estate market /." Stockholm, 2005. http://urn.kb.se/resolve?urn=urn:nbn:se:kth:diva-521.

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Azasu, Samuel. "Reward Management in Swedish Real Estate Firms : Five essays." Doctoral thesis, KTH, Bygg- och fastighetsekonomi, 2011. http://urn.kb.se/resolve?urn=urn:nbn:se:kth:diva-29752.

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Johansson, Gustav, and Lukas Kvarfordt. "Determinants of Real Estate FDI on the Swedish Market." Thesis, KTH, Fastigheter och byggande, 2017. http://urn.kb.se/resolve?urn=urn:nbn:se:kth:diva-211142.

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Foreign direct investments, FDI, have been increasing a lot the latest years and a significant part of the total investments made are allocated to the real es-tate industry. This paper is investigating the impact of several di˙erent macro variables on foreign direct investment allocated to real estate at the Swedish market. The objective of the thesis is to investigate what factors that a˙ects the inflow of FDI, i.e. are there any factors that can be used as indicators for an attractive market seen from a foreign investor perspective? This is done by regression analysis on a data set containing monthly data with 146 observa-tions, where the levels of foreign direct investments is the dependent variable and the di˙erent factors are the independent variables. The variables used in the regression are chosen based on earlier findings regarding their impact on FDI, but applied on a developed country. The variables are di˙erent ma-jor macroeconomic variables such as lagged transaction volume, stock market performance, inflation, currency level, interest rate and unemployment. The findings of the regression are that both lagged transaction volume and level of unemployment are significant variables on a 1% and 5% level respectively. The results suggest that investors tend to invest in hot markets and follow each other, plausibly that smaller investors shadows pioneers on the specific market. Level of unemployment was found significant with a negative sign, meaning that when unemployment levels are decreasing, the transaction volume will increase. Seeing decreasing unemployment as a factor for a prospering country, it is plausible that the parameter has an impact on the real estate transaction volume. Variables not found support for are stock performance, inflation, currency levels and interest rate.
Utländska direktinvesteringar har ökat markant de senaste åren och en sig-nifikant del av dessa investeringar I fastigheter. Den här rapporten undersöker inverkan av olika makrofaktorer på nivån av utländska direktinvesteringar på den svenska marknaden. Målet med rapporten är att undersöka om några av dessa faktorer kan användas som indikatorer för hur attraktiv den svenska fastighetsmarknaden är för utländska investerare. Det här har undersökts med hjälp av regressionsanalys på data som samlats på månadsbasis med 146 ob-servationer. Den beroende variabeln är nivån av utländska direktinvesteringar och de oberoende variablerna är de olika makrofaktorerna. De oberoende vari-ablerna är valda baserat på tidigare forskning, variabler som börsutveckling, BNP, nivå på arbetslöshet, laggad investeringsvolym med flera. Resultatet av regressionen visar att laggad investeringsvolym och nivån på arbetslöshet är signifikanta på 1% respektive 5% nivå. Resultatet implicerar att investerare föl-jer varandra, alternativt att de baserar beslut på samma faktorer när de väljer att investera. Arbetslösheten verkar ha någon slags implikation på framtida nivåer av utländska investeringar. Variablerna som inte var signifikanta var börsutveckling, inflation, växelkurs samt reporänta.

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Jonasson, Jesper, and Tobias Rosén. "The influence of real estate price fluctuations on real estate stocks : An analysis of Swedish asset classes." Thesis, Internationella Handelshögskolan, Högskolan i Jönköping, IHH, Nationalekonomi, 2019. http://urn.kb.se/resolve?urn=urn:nbn:se:hj:diva-44330.

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With background to recent price growth in Swedish real estate and consequently real estate stocks, our aim is to examine the relationship between real estate price development and real estate stock price development. To test our hypothesis, that real estate price development have had an impact on the return of real estate stocks, we built a capital asset pricing model. We divide the return of real estate stocks into two parts, the return in relation to the Swedish market premium and the excess return that is given for the exposure of the real estate market. We found that real estate exposure would treat the investor with an additional return beyond the return given from stock market exposure; hence, real estate price development has contributed to real estate stock returns.

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Cheung, Ka-leung. "Competitive strategies for the development of real estate agencies /." Hong Kong : University of Hong Kong, 1995. http://sunzi.lib.hku.hk/hkuto/record.jsp?B14038948.

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Hsieh, Hui-Ching Sana. "Analysis of Asian listed real estate companies." Thesis, University of Cambridge, 2012. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.610683.

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Krukovski, Lukas, and Marcus Belsby. "Capital Structure In Swedish Real Estate Companies : A qualitative study on factors determining the capital structure choices in large cap Swedish real estate companies." Thesis, Högskolan i Jönköping, Internationella Handelshögskolan, 2019. http://urn.kb.se/resolve?urn=urn:nbn:se:hj:diva-43943.

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Larsson, Karl-Erik. "Review of the Swedish National Pension Plan’s Real Estate Strategies." Thesis, KTH, Fastigheter och byggande, 2013. http://urn.kb.se/resolve?urn=urn:nbn:se:kth:diva-124331.

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Holmen, Victor, and Linus Svensson. "Debt Funds : Alternative Financing on the Swedish Real Estate Market." Thesis, KTH, Bank och finans, 2019. http://urn.kb.se/resolve?urn=urn:nbn:se:kth:diva-254941.

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Banks have become increasingly restrictive in their lending towards real estate, a development that is expected to continue due to further regulations, such as the Basel framework, and the emergence of new alternative financing options. As described by interview respondents, companies have shown an increased preference for a mix of capital sources following the financial crisis of 2008, which has led to an increase in demand on the capital and alternative markets. Factors that may have affected this development is the inflated corporate interest in maintaining a good credit rating and a change in investor sentiment towards a wider diversification. On the Swedish market, the so-called debt funds are a relatively new phenomenon and the purpose of this paper is to investigate how and what conditions that exist and have been necessary for this development. Debt funds already play a prominent role in real estate funding on other markets, such as US and UK, which could indicate a similar development on the Swedish market henceforth. However, as shown in the paper the markets are different on a systematic level, which makes it hard to draw parallels. Furthermore, as described in the empirical study the Swedish AIF market is underdeveloped in many respects since Swedish companies traditionally have used bank loans or turned to the capital markets - with a preference for equity before debt. With new regulations being introduced in the banking sector, the bank risk appetite has become more volatile, however, the banks retain a strong position and a continued large exposure to the real estate sector which may be due to the banks being well capitalized and an overall increased demand for capital. The increased demand for capital may also have given rise to favorable conditions for alternative financing options. However, in order for debt funds to continue to grow the key is most likely going to be offering loans with more favorable terms and longer maturities compared to other financing options.

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Tai, Lin-hay. "Competitiveness and survival of Hong Kong real estate agencies /." Hong Kong : University of Hong Kong, 2000. http://sunzi.lib.hku.hk/hkuto/record.jsp?B25939762.

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Hyslop, Thorsson Marie. "Women in Real Estate : A Swedish study of barriers and oppurtunities." Thesis, KTH, Fastigheter och byggande, 2011. http://urn.kb.se/resolve?urn=urn:nbn:se:kth:diva-40265.

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The following thesis is a qualitative study of career barriers and opportunities for women in commercial real estate in Sweden. Additionally the purpose is to make suggestions for positive change opportunities for the industry as a whole. The Swedish real estate industry is currently experiencing a rather substantial generational change in addition to a shortage of interest from the younger generations. It is male dominated and still largely considered to be conservative in its values and practices. There is a need for re-branding and enhanced marketing of the industry as interesting and open to change as well as a large untapped potential in the talent pool of women in the working population. The study has been performed through a literature review of current research and an interview study. Eighteen women were interviewed about their individual experiences and their views about the industry. The interview guide is partly designed to mirror the inequality regimes set forth by Joan Acker (2006). The results show that there are many underlying processes and structures found in theory that can be indentified in the Swedish real estate industry today, even though much work currently is done in many organizations to change the skewed distribution of men and women, particularly in management positions. Without doubt, there is enormous potential for change in the industry and using the information in this thesis could prove very useful.

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19

Lanefelt, Michael. "Owning versus Leasing Corporate Real Estate: A study of Swedish municipalities." Thesis, KTH, Fastigheter och byggande, 2013. http://urn.kb.se/resolve?urn=urn:nbn:se:kth:diva-124131.

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Every choice between owning and leasing corporate real estate is unique. Therefore every single case needs to be analyzed very thoroughly. The analysis can be in the form of a cash flow analysis and must be done on both cases: to own and to lease. Factors other than the purely financial ones must also be considered. The way the lease contract is written is very central to the choice between owning and leasing. Almost everything can be regulated in the lease contract. Another factor that has great impact on the decision between owning and leasing is the way one looks on risk vs. return. The result of the cash flow analysis is very dependent on the risk, so it’s obvious that the discount rate has an important role in the decision making. It is the author’s strong belief that the trend is to lease more and own less. This is applicable for private enterprises. Regarding Swedish municipalities it seems to be the other way around. The majority of the municipalities don’t have any plans on selling their real estate. The difference between owning and leasing can be very vague because lease contracts can be written in so many different ways. Therefore there is almost never a clear answer which is best, owning or leasing. My ambition with this text has never been to find a right or wrong, but to analyze the different aspects of leasing and owning real estate.
Varje enskilt fall måste noggrant gås igenom för att kunna dra någon slutsats om huruvida det är bäst att äga eller hyra ett fastighetsbestånd. Man måste räkna, med hjälp av t.ex. en kassaflödesanalys, på de båda fallen. Andra faktorer än de direkt ekonomiska från teorin måste även tas hänsyn till. Valet mellan hyra och äga beror till stor del av formuleringen av ett eventuellt hyreskontrakt. I kontraktet går nästan allt att reglera. Hur man ser på och utvärderar risk kontra avkastning är en faktor som även den till stor del påverkar valet mellan äga och hyra. Risken påverkar diskonteringsräntan som ligger till grund för den kassaflödesanalys som måste göras för att utvärdera de olika investeringsalternativen. Trenden, inom den privata sektorn, går mot att hyra mer. Bland kommuner är denna trend inte alls tydlig. Tvärtom så verkar de flesta kommuner inte ha planer på att sälja ut sitt fastighetsbestånd. Eftersom ett kontrakt kan vara utformat sådant att det knappt går att tala om att äga eller hyra, utan något mellanting, så finns det sällan något entydigt svar på vad som är bäst av att äga eller hyra. Det var aldrig min ambition att hitta något rätt och fel på det stora hela.

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20

Lu, Jizi. "Effects of the Gender of the Real Estate Agents on House Prices." Scholarship @ Claremont, 2017. http://scholarship.claremont.edu/cmc_theses/1674.

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This paper studies the effects of the gender of the real estate agents on the closing price of residential, single-family homes in seven cities in east Los Angeles county from 2016 to 2017. We conduct two sets of regressions and find that contrary to previous studies, female listing agents outperform male listing agents. We also find that the gender of the buyer’s agents does not have significant effects on house prices. These results suggest that negotiation skills might not be the main key to explain the discrepancy of performance between male and female real estate agents.

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21

Kwok, Lai-san. "Hong Kong real estate agency industry survey on important marketing factors and branding attributes in light of service intangibility /." Click to view the E-thesis via HKU Scholars Hub, 2005. http://lookup.lib.hku.hk/lookup/bib/B37935550.

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22

Dulin, Heather B. "Assessment of realtor income in the Chippewa Valley." Online version, 2004. http://www.uwstout.edu/lib/thesis/2004/2004dulinh.pdf.

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23

Gathright, Graton Marshal Randal. "Social learning in labor markets and in real estate brokerage." Diss., [La Jolla] : University of California, San Diego, 2010. http://wwwlib.umi.com/cr/ucsd/fullcit?p.

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Thesis (Ph. D.)--University of California, San Diego, 2010.
Title from first page of PDF file (viewed Feb. 19, 2010). Available via ProQuest Digital Dissertations. Vita. Includes bibliographical references (p. 59-60).

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24

Rawlins, Laura Cooley. "Burning down the House: Emotional Labor, Burnout and Real Estate Sales Professionals." TopSCHOLAR®, 2008. http://digitalcommons.wku.edu/theses/20.

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25

Donner, Herman, and Victor Svensk. "Corporate Bonds - An Emerging Source of Financing for Swedish Real Estate Companies." Thesis, KTH, Fastigheter och byggande, 2012. http://urn.kb.se/resolve?urn=urn:nbn:se:kth:diva-96653.

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Banks have become increasingly restrictive in their lending towards commercial real estate, a development that is expected to increase due to new regulations. This has caused Swedish companies, amongst them several real estate companies, to obtain financing through the capital markets. The main focus of this paper is corporate bonds, and those Swedish real estate companies that have issued bonds. We distinguish between government owned and other real estate companies, as their creditworthiness differ considerably. The research is based upon interviews with people in the industry as well as pre-existing secondary data. The Swedish bond market is underdeveloped as Swedish companies traditionally obtain debt through bank loans. Until a few years ago, only government owned real estate companies had issued bonds; although since 2010, several real estate companies without government ownership have issued unsecured bonds, this as availability of bank loans has decreased due to new regulations. Increased bank funding costs and increased bank loan margins has further caused prices of bank loans to rise. Swedish banks are increasingly reluctant to finance higher LTV-levels, and loans are conditioned with an increasing number of covenants. Issues of corporate bonds provides the benefit of funding diversification – decreasing overall financial risk; and allows for higher LTVs as financing on top of bank loans. In order for corporate bonds to be an alternative to bank loans, secured bonds would have to be issued. However, there is some uncertainty regarding how such bonds would be priced. We have investigated the yield-determinants of bonds issued by real estate companies, as well as the motives for real estate companies to issue bonds. Investors perceive corporate bonds as an increasingly attractive investment compared to other asset classes, fuelling a development towards increased bond issues amongst real estate companies.

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Narkander, Christoffer, and Elena Ilchishina. "Franchising i den svenska fastighetsmäklarbranschen : Franchising in the Swedish real estate industry." Thesis, Karlstad University, Karlstad University, 2010. http://urn.kb.se/resolve?urn=urn:nbn:se:kau:diva-5937.

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Sammanfattning

Bakgrund

Idag blir det allt mer vanligt att mindre enskilda mäklarbyråer ansluter sig till de stora franchisekedjorna. Anslutningen innebär att den tidigare enskilde aktören lämnar sitt varumärke och sin tidigare affärsidé för att istället ta del av ett välkänt varumärke och ett framgångsrikt affärskoncept.

Syfte & metod

Syftet med uppsatsen är att studera vilka positiva och negativa effekter franchising bidrar med i den svenska fastighetsmäklarbranschen samt vilka ekonomiska och personliga kriterier franchisegivarna ställer på franchisetagarna. Studien är en kvalitativ undersökning där väl insatta aktörer ifrån fastighetsmäklarbranschen har intervjuats om franchising.

Resultat

Studien visar att det finns både positiva och negativa sidor med franchising. Franchisegivarna upplever att franchising bidrar till en mer företagsam anda och bättre driv igenom hela verksamheten. De upplever dock att det krävs relativt höga volymer för att bli en framgångsrik franchisekedja. Franchisetagarna ser mycket positivt på det väletablerade varumärket och upplever att de tjänster som tillkommer genom franchising har bidragit till att de kan ägna mer tid åt den inkomstdrivande verksamheten. De upplever dock att deras frihet begränsas jämfört med när de drev egen mäklarbyrå. iii

Nowadays it is becoming more and more common for small individual estate agencies to merge with bigger franchisements. The merging constitutes to the previous individual executor leaving his/her trademark and the pre-existing business idea and substituting them with a renowned trademark and a successful business concept.

The purpose of the thesis is to study the positive and negative effects franchising may have on the Swedish real estate market as well as the economic and personal criteria conditions the franchisers may place upon the franchisees. The research has utilised qualitative data where experts from the appropriate area of expertise have been interviewed about franchisement.

The research has shown upon both positive and negative issues with regards to franchisement. The franchisers experience that franchisement contributes to a richer entrepreneurial spirit and a better drive in the whole scheme. However, it needs mentioning that there needs to be a relatively high volume conversion to become a successful franchisement. The franchisees also find positive points in the established trademark and feel that the services that arise through the franchisement have contributed to them being able to devote more time to the profit income activities. The negative aspect to the franchisement according to the franchisees is the restrictions placed upon them in comparison to when they were executing on their own.

Result

Purpose & method

Abstract

Background

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Hertéus, Robin, and Simon Hilmgård. "Corporate Bonds as a Choice of Financing for Swedish Real Estate Companies." Thesis, KTH, Fastigheter och byggande, 2014. http://urn.kb.se/resolve?urn=urn:nbn:se:kth:diva-146623.

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Since the last financial crisis banks have been more restrictive about lending to companies, leading to companies seeking alternative funding. In this thesis we evaluate the Swedish market for property-related lending focusing on corporate bonds. We investigate if the view on corporate bonds differ between real estate companies and banks and also the development of the Swedish market for property-related lending. The thesis is based on interviews with people in the real estate- and bank industry as well as previous research. The Swedish bond market is undeveloped but it is going through a growing stage. In Swedish history banks have played an important roll developing the Swedish economy thus the Swedish financial market is bank dominated. Because of new bank regulations after the financial crisis, the price on loans went up leading to companies seeking alternative financing. This has led to an increase in corporate bonds issued by real estate companies. There has been an increase in the number of real estate companies issuing bonds as more investors, such as funds, have entered the bond market leading to an opportunity for smaller real estate companies to successfully issue bonds.
Efter senaste finanskrisen har banker blivit mer restriktiva med utlåning till företag, vilket har lett till att företag söker alternativ finansiering. I den här uppsatsen granskar vi den svenska marknaden för fastighetsrelaterad utlåning med fokus på obligationslån. Vi undersöker om synen på obligationslån skiljer sig mellan banker och fastighetsbolag samt hur den svenska kreditmarknaden för fastighetsrelaterad utlåning utvecklas. Uppsatsen bygger på intervjuer med personer i fastighets- och bankbranschen samt tidigare forskning om ämnet. Den svenska obligationsmarknaden är outvecklad men på stark tillväxt. Bankerna har historiskt sett haft en central roll i svenska näringslivet vilket har lett till att den svenska finansiella marknaden är bankdominerad. Efter finanskrisen har dock företag sökt alternativa finansieringsmöjligheter på grund av skärpta krav på banker som lett till dyrare lån för företagen. Detta har lett till att antal emitterade obligationer för företag inom fastighetsbranschen ökat. Fler och fler emittenter tar sig in på obligationsmarknaden i samband med att nya investerare, exempelvis kreditfonder, äntrat marknaden vilket har skapat möjlighet för även mindre fastighetsbolag att framgångsrikt emittera obligationer.

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HELLQVIST, OSKAR, and ANTON SANDVALL. "Preference Shares – A lead lag analysis of the Swedish real estate sector." Thesis, KTH, Nationalekonomi, 2016. http://urn.kb.se/resolve?urn=urn:nbn:se:kth:diva-198692.

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Several researchers have over the past decades criticised the efficient market hypothesis as several studies have presented evidence of causality and co-integrating relationships in inancial markets. As preference shares have become increasingly popular, in recent years, as a mean of raising capital in the Swedish real estate sector, this study investigates the causal relationships between common shares and their corresponding preference share of nine listed Swedish real estate companies. By using daily closing prices over the period Dec 2014 – April 2016, we find weak support for short-run causalities in five of the nine examined pairs but no long-run cointegrating relationships. Further, we find causality running from the largest five firms to the four smallest in the sample firms. These findings violate the weak form of the efficient market hypothesis, which state that asset price fluctuations are random and not possible to forecast by the use of historical asset prices.

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Siu, Choi-pai Johnny. "Estate agency marketing in People's Republic of China : a business opportunity for a surveying professional firm in Hong Kong /." Hong Kong : University of Hong Kong, 1994. http://sunzi.lib.hku.hk/hkuto/record.jsp?B21020383.

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30

Chong, Shung-ping Charles. "A new era for the Hong Kong real estate agency industry /." Hong Kong : University of Hong Kong, 2000. http://sunzi.lib.hku.hk/hkuto/record.jsp?B25940715.

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31

Wignall, Christopher David. "The economics of real estate brokerage and contracts." Diss., [La Jolla] : University of California, San Diego, 2009. http://wwwlib.umi.com/cr/ucsd/fullcit?p3356245.

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32

McGourty, Kevin. "A Correlational Study on Emotional Intelligence and Successfulness among Real Estate Agents." Thesis, Grand Canyon University, 2018. http://pqdtopen.proquest.com/#viewpdf?dispub=10786826.

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The real estate industry is facing several challenges, including the need for real estate agents to experience success within their profession. The goal of this study was to fill the gap in the literature in determining if, and to what degree, experiential and strategic emotional intelligence, gender, and full-time/part-time work status predicted successfulness among real estate agents in central and northern Arizona. This study was based on the ability-based emotional intelligence model. The study utilized the Mayer-Salovey-Caruso Emotional Intelligence Tests (MSCEIT) to measure REALTORS’^® emotional intelligence level, as well as SurveyMonkey to collect demographic data on the participants. Data analysis was conducted using a single binary logistic regression. Results indicated that experiential emotional intelligence and strategic emotional intelligence are not significant predictors of REALTOR^® success. However, gender and the full-time/part-time work status were found to be significant predictors of REALTOR^® success (OR = 0.307, p = .017 and OR = 3.936, p = .014, respectively). Findings suggest that male real estate agents have a higher likelihood of success than female real estate agents. Additionally, full-time real estate agents have a higher likelihood of success than part-time real estate agents.

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33

Schilke, Matthis Niklas. "Exploring financial decisions in Swedish commercial real estate : How the question of added flexibility in the real estate product is handled in practice." Thesis, KTH, Fastigheter och byggande, 2020. http://urn.kb.se/resolve?urn=urn:nbn:se:kth:diva-276772.

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This thesis explores how the question of added flexibility in the real estate product is handled by Swedish commercial real estate developers. Theoretically this problem can be solved with a real options approach. Traditionally the use of real options analysis in practice in commercial real estate has been limited. The results indicate that the use of real options analysis is limited also in the Swedish commercial real estate market. Traditional investment methods coupled with rules of thumb that determine appropriate flexibility levels continue to dominate. The results highlight some of these rules of thumb. The commercial developers do argue in favor of flexible designs in locations where there is higher uncertainty, this result is in line with real options theory. Future research is needed to assess how effective this rule of thumb approach is to determining the appropriate level of flexibility in a real estate product compared to a real options approach.
Detta examensarbete utforskar hur kommersiella fastighetsägare hanterar vilken nivå av flexibilitet som byggs in i nya projekt och hur man tar beslut kring nivån utifrån ett investeringsperspektiv. Teoretiskt sätt så kan detta problem lösas med real optionsanalys. Historiskt sett har real optionsanalys inte använts särskilt utbrett i den kommersiella fastighetsbranschen. Resultatet indikerar på att användningen av real optionsanalys på den svenska kommersiella fastighetsmarknaden är fortsatt låg. Traditionella investeringsmetoder kombinerat med tumregler som bestämmer graden av flexibilitet verkar dominera. Resultatet belyser några av dessa tumregler. De kommersiella fastighetsaktörerna resonerar kring flexibilitet och osäkerhet på ett sätt som är i linje med real optionsteori. Vidare forskning behövs för att bedöma hur väl tumregel-förfarandet i förhållande till real optionsanalys fungerar när man ska bestämma graden av flexibilitet.

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34

Birukova, Yauheniya. "Foreign direct investments into Swedish Real Estate during the period of 2008-2013." Thesis, KTH, Fastigheter och byggande, 2014. http://urn.kb.se/resolve?urn=urn:nbn:se:kth:diva-148817.

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Financial crisis of 2008 became critical period for Swedish economy and its real estate market. During this period Sweden has experienced sharp decrease in transaction volumes. However compare to other EU and global markets, Sweden managed to perform remarkably well and economic recovery has taken place since 2010. The purpose of this master thesis is to outline general trends in the development of Swedish Real Estate market for FDI in the period of 2008-2013 and provide better understanding of foreign investors behavior and the incentives attracted them to invest in Sweden. The deductive approach has been used based on the previous studies and theory. The quantitative data was obtained from scientific and media sources, while qualitative empirical data relies on survey filled in by real estate consultancy companies operating on Swedish market. Research focuses on the analysis of overall market situation and changes occurred during the 5-year period concerning micro/macro economical issues, behavioral factors, country characteristics, business environment, global trends, investors’ behavior and expectations. Theoretical basis for the research is an overview of previous FDI theories. The results reveal that by the end of 5 year period, the situation on the market became much more favorable with strong recovery as for the end of 2013. Compare to after crisis 2009, when foreign transactions volumes were down to 45 bn sek versus 157 bn sek in 2008, the full year transaction volume 2013 was SEK 99 bn which is in line with 15 year historic average. In 2013 international investment share is amounted to 12%, the most active are institutional investors from Norway, Finland, UK, Germany and US. Overall foreign investors are willing to operate on Swedish market in the future, searching for high yields at low risk levels within safe, transparent and liquid, highly developed business environment with good economical and politically stable regimes. However difficulties with accessing finance and lack of prime quality assets on the market became the main drawbacks for foreign investors on the Swedish market during last years.

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35

Wigsén, Oskar. "The Occurrence of Earnings Management in Swedish Real Estate Companies – a quantitative study." Thesis, KTH, Fastigheter och byggande, 2016. http://urn.kb.se/resolve?urn=urn:nbn:se:kth:diva-192168.

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Background and aim: All of the publicly listed companies in the EU have since January 2005 been required to implement the new international accounting standard IAS/IFRS in their financial statements. One of the new regulations that were included in the standard was the IAS 40 – Investment Property, which regulates the valuation and reporting of a company’s investment properties. IAS 40 introduced two different approaches to valuate investment properties; the cost method and the fair value method. The latter one created debate and controversy because of concerns regarding its applicability on assets not traded on an efficient market. The foundation of the fair value method is to value an asset to its fair value, which is the amount that can be expected to be received if the asset would have been sold the time of the valuation. If an asset is regularly traded on an efficient market the information of the value can be retrieved directly from recent market transactions. However, if the asset is not traded on an efficient market the management needs to make own assumptions when assessing the value, which is thus subject to bias. This creates opportunities for the management to manipulate the earnings. The purpose of this study is to determine whether Swedish real estate companies use the fair value method as a tool to manipulate earnings by implementing earnings management techniques. Methodology: Two hypotheses were developed to answer the research question. They were tested by conducting a statistical analysis. Hypothesis 1 was tested by performing a linear regression analysis and the second hypothesis was tested by a chi-square-test. Result and conclusion: The results from statistical analysis were ambiguous. Although a specific earnings management technique could not be proven to be used it was not possible to eliminate the possibility of real estate companies performing some kind of earnings management technique to manipulate the earnings.
Bakgrund och syfte: I januari 2005 introducerades en internationell redovisningsstandard, IAS/IFRS, som alla börsnoterade företag i EU var tvungna att implementera. Ett av de många nya regelverk som infördes var IAS 40 – Förvaltningsfastigheter som reglerade värderingen och redovisningen av ett företags förvaltningsfastigheter. IAS 40 introducerade två nya metoder för att hantera redovisningen av förvaltningsfastigheter; cost-metoden och fair value-metoden. Den sistnämnda blev debatterad och ansågs kontroversiell då det funderingar skapades över dess tillämpning på tillgångar som inte handlades på en effektiv marknad. Fair value-metoden syftar till att värdera en tillgång till dess verkliga värde, vilket är det belopp som kan förväntas fås vid en eventuell avyttring vid värderingstillfället. Om en tillgång regelbundet handlas på en effektiv marknad kan information inhämtas direkt ifrån nyligen genomförda marknadstransaktioner. Om en tillgång emellertid inte handlas på en negativ marknad måste företagsledningen formulera egna antaganden när värdet beräknas vilket skapar utrymme för subjektivitet och som då kan utnyttjas av företagsledningen för att manipulera resultatet. Studiens syfte är att fastställa huruvida svenska fastighetsföretag använder fair value-metoden som ett verktyg för att manipulera ressultatet genom att implementera earnings management-tekniker. Metod: Två hypoteser formulerades i studien för att besvara frågeställningen. De prövades genom att utföra en statistisk analys. Hypotes 1 prövades genom en linjär regressionsanalys och hypotes 2 prövades genom att utföra ett chi-två-test. Resultat och slutsats: Resultatet från den statistiska analysen var tvetydig. Då även om användadet av en specifik earnings management-teknik inte kunde statistiskt visas var det inte möjligt att eliminera det faktum att earnings management i någon form kan förekomma för att manipulera resultaten.

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Hallsten, Felix, and Mikael Valdenström. "Effects of Quantitative Easing on the Swedish Real Estate Market, an ARDL Approach." Thesis, KTH, Fastigheter och byggande, 2020. http://urn.kb.se/resolve?urn=urn:nbn:se:kth:diva-276776.

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Quantitative easing (QE) is an unconventional monetary policy tool used by central banks to stimulate the economy in times when conventional monetary policy is not sufficient. In the wake of covid-19, central banks around the world has announced significant increases in their QE-programs. This research paper aims to find out whether quantitative easing has any statistically significant effect on the stock prices of the Swedish real estate market. Moreover, it aims to produce an indication of the direction of the real estate stock prices over the year of 2020. To those ends, a combination of statistical analysis and economic theory is used. We estimate three Autoregressive Distributed Lag (ARDL) models. For a chosen model, an out-of-sample prediction is carried out as a way to model future stock price movements. We conclude that quantitative easing indeed has a statistically significant effect on real estate stock prices in Sweden. Furthermore, we estimate that stock prices in the real estate sector will see negative movements during the second and third quarter of 2020, followed by a return to positives during the fourth quarter.
Kvantitativa lättnader (QE) är ett redskap inom okonventionell penningpolitik som används av centralbanker för att stimulera ekonomin när konventionella metoder inte är tillräckliga. I kölvattnet av covid-19 så har centralbanker runt om i världen meddelat kraftiga ökningar i deras program för kvantitativa lättnader. Den här uppsatsen syftar till att ta reda på om kvantitativa lättnader har någon statistiskt signifikant påverkan på priserna för fastighetsaktier som handlas på öppen marknad i Sverige. Därutöver syftar den till att ge en anvisning kring i vilken riktning priserna på dessa aktier kommer röra sig under 2020. För dessa ändamål används en kombination av statistisk analys och ekonomisk teori. Vi estimerar tre Autoregressive Distributed Lag (ARDL) modeller. För en av modellerna görs en out-of-sample prediktion för att modellera framtida prisrörelser på aktiemarknaden. Utifrån våra modeller och analys kan vi konstatera att kvantitativa lättnader har en effekt på priserna för fastighetsaktier. Vidare så estimerar vi att priserna på fastighetsaktier kommer röra sig i en negativ riktning under andra och tredje kvartalet 2020, för att sedan svänga tillbaka till positiva rörelser under fjärde kvartalet.

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Hagström, Ludvig, and Douglas Engman. "Disclosure Trends in CSR Reporting : Reporting Practices in the Swedish Real Estate Sector." Thesis, Internationella Handelshögskolan, Högskolan i Jönköping, IHH, Företagsekonomi, 2017. http://urn.kb.se/resolve?urn=urn:nbn:se:hj:diva-36536.

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Yick, Wai-man Winson. "Franchise : a survival kit for the small real estate agency practice /." Hong Kong : University of Hong Kong, 1998. http://sunzi.lib.hku.hk/hkuto/record.jsp?B25939932.

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Tai, Lin-hay, and 戴連喜. "Competitiveness and survival of Hong Kong real estate agencies." Thesis, The University of Hong Kong (Pokfulam, Hong Kong), 2000. http://hub.hku.hk/bib/B3125682X.

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40

Westin, Love. "Vad påverkar OMX Real Estate -Substansvärde eller OMXS30?" Thesis, Umeå universitet, Nationalekonomi, 2016. http://urn.kb.se/resolve?urn=urn:nbn:se:umu:diva-119971.

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The question in the study is to what extent the Swedish Real estate sector index acts as a follower of larger and broader stock indexes, and to what extent the index follows the asset values owned by the real estate companies in the asset market? The study is interesting for those trying to understand the development of share values in the Swedish real estate market as well as for those interesting in the “efficient market hypothesis”. The study makes an econometric analysis of the relationship between OMXS30, OMXS Real Estate PI, and the asset value of properties owned by Swedish real estate companies. Indexes are compared with Vector Autoregression (VAR) lag models, tested for dependence of GDP, the repo rent, and inflation. A Granger causality test is also performed. Despite discussed problems with reliability of some tests, the study finds that OMXS30 Granger cause OMX Real Estate PI. The study also finds that, during the period studied, OMXS30 and OMX Real Estate PI develop differently in the initial period but later form a similar path of performance. The asset values of the companies in the real estate market are more strongly correlated with OMXS30 than with their own sector index, OMXS Real Estate PI. No significant effects are found from GDP, the repo rent or inflation on OMXS30 or OMXS Real Estate PI. This may be seen as surprising but follows results from earlier studies.

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Cheung, Ka-leung, and 張家亮. "Competitive strategies for the development of real estate agencies." Thesis, The University of Hong Kong (Pokfulam, Hong Kong), 1995. http://hub.hku.hk/bib/B31266411.

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42

Jingryd, Ola. "Impartial Legal Counsel in Real Estate Conveyances : The Swedish Broker and the Latin Notary." Doctoral thesis, KTH, Bygg- och fastighetsekonomi, 2013. http://urn.kb.se/resolve?urn=urn:nbn:se:kth:diva-116376.

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Real estate conveyances are accomplished differently and by different players across Europe. The European Union houses four basic regimes, related to the classical “legal families”: 1) The Latin-German notary regime, where the public notary plays the central role, 2) the partly deregulated Dutch notary regime, 3) the lawyer/solicitor regime, prevalent on the British Isles, where conveyances are traditionally accomplished by solicitors, and 4) the Nordic regulated real estate broker regime. The comparative studies that have been conducted with respect to these regimes have focused on the economic impact—with particular regard to transaction costs—of regulation, particularly that concerning the Latin-German notary profession. The studies, while having great merit, are incomplete insofar as they fail to properly take into account, inter alia, the legal framework of the respective regimes and the functions performed by the key players. The present dissertation examines, compares, and analyzes the nature and scope of the non-litigious legal counsel that buyers and sellers of real estate can expect to receive—without hiring lawyers to represent them—under the Latin-German regime and the Swedish regime. To that end, the Swedish real estate broker and the Latin notary are examined and compared with respect to the role they play in real estate conveyances and their duty to give counsel to the contracting parties. The study is conducted in two steps: first a general overview of the professions’ duties and roles, followed by a more detailed juxtaposition of their duty to counsel. The first part comprises Sweden and nine notary regime countries: Argentina, Belgium, Brazil, France, Germany, Mexico, Portugal Puerto Rico, and Spain. The second part focuses on Sweden and France. The two professions share two main traits: a duty of impartiality and a duty to counsel. The duty to counsel of the Swedish broker and the French notary are strikingly similar and consists in four sub-duties: 1) to conduct verifications to ascertain facts, 2) to disclose relevant information, 3) to give adequate advice, and 4) to draw up all necessary deeds in a manner that is tailored to the instant transaction. The duty of impartiality and the duty to counsel amount to a specific function in real estate conveyances, common to both professions—namely that of impartial counsel. The desirability of the different regimes can be assessed and discussed from several perspectives, including but not limited to the economic perspective. In general terms, a regime can be said to be desirable if the produced utility exceeds the costs. The question is how to properly measure utility and costs. In limiting studies to such factors as can be readily measured, mainly pecuniary costs, one obtains an incomplete picture since there may be utility and costs that remain unaccounted for. For instance, the extent to which the state should interfere in the marketplace is not merely an economical issue but also an ideological issue. How does one account for ideologically conditioned utility and costs? One way to obtain more solid information is to study the regimes’ institutional robustness; that is, their ability to produce the desired results. For instance, harmful incentives for key players such as brokers and notaries may have an adverse effect on the performance of their assigned functions. Future research should focus on these issues.

Degree of Doctor in Laws. QC 20130117

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Jingryd, Ola. "Impartial contract-engineeering in real estate transactions : The Swedish broker and the Latin notary." Licentiate thesis, Stockholm : Infrastruktur, Infrastructure, Kungliga Teknisak högskolan, 2008. http://urn.kb.se/resolve?urn=urn:nbn:se:kth:diva-4768.

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Allemann, Frank von Arx. "Swedish institutional investors : potential role in U.S. real estate in the next five years." Thesis, Massachusetts Institute of Technology, 1991. http://hdl.handle.net/1721.1/62907.

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Hertéus, Robin, and Simon Hilmgård. "Capital Structure and Diversification Strategies - A Study of Swedish Real Estate Companies Over Time." Thesis, KTH, Fastigheter och byggande, 2016. http://urn.kb.se/resolve?urn=urn:nbn:se:kth:diva-190204.

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This thesis’ aim is to study four Swedish real estate companies between the years 2006-2015 to see whether their capital structure and investment strategies have changed over the years. The data upon which the thesis is based, is gathered from the four companies’ annual reports. These years are of interest due to the changing economic environment, both in Sweden and the world, during this time period. The time period includes one financial crisis and a never before experienced interest rate environment with rates around zero percent. Traditional capital structure- and diversification theories have been overviewed and serves as the base for the discussion regarding the results from the gathered data. Two hypotheses have been constructed to study this topic:  The low interest rate environment has provided the real estate sector with access to more capital, which has led to real estate companies increasing their financial leverage, i.e. the capital structure has changed.  The accessibility of capital in the market, combined with funds actively seeking return on capital in real estate, increases the competition and decreases yield spreads, which in turn leads to real estate companies investing capital in markets associated with higher risks. The result indicates that the hypotheses are incorrect. The real estate companies have not increased their financial risk through an increase in their long term debt at the end of the studied time period. However, the companies have increased their borrowing but the financial risk has not increased since their equity has increased proportionally. The studied real estate companies have not been mainly investing in markets associated with higher risk. Increased investment volumes have been observed all over Sweden. The investment strategies differ between the companies; some invest mainly in the bigger cities while some invest mainly in smaller cities.
Uppsatsen handlar om hur kapitalstrukturen samt fastighetsinnehavet (geografiskt och fastighetstyp) hos fyra svenska fastighetsbolag har förändrats under tidsperioden 2006-2015. Data från de fyra fastighetsbolagens årsredovisningar ligger till grund för studien. Dessa år har studerats på grund av det förändrade ekonomiska läget i både Sverige och världen med gott finansiellt klimat, en finanskris och ett tidigare aldrig upplevt ekonomiskt klimat med räntor kring 0 procent. Traditionella kapitalstruktur- och diversifieringsteorier har behandlats och ligger till grund för diskussionen kring resultatet av den insamlade datan. Två hypoteser har konstruerats för att undersöka detta ämne:  Fastighetsbolagens långfristiga skulder har ökat de senare åren av tidsperioden till följd av ränteläget dessa år eftersom kostnaderna för kapital under denna tid har minskat. Detta har ökat företagens finansiella risk i slutet av perioden jämfört tidsperiodens start.  Det låga ränteläget i slutet av tidsperioden har medfört att fastighetsbolagen har sökt nya marknader för att kunna få avkastning på sitt kapital, d.v.s. sökt sig till marknader med högre risk utanför Sveriges storstäder. Resultatet pekar på att hypoteserna inte stämmer. Fastighetsbolagen har inte ökat sin finansiella risk till följd av ökad lånefinansiering i slutet av tidsperioden. Däremot stämmer det att bolagen har ökat sina långfristiga skulder mot tidsperiodens slut, dock ökar inte den finansiella risken eftersom det egna kapitalet ökar proportionellt med deras ökade belåning. De studerade fastighetsbolagen har inte endast sökt sig till marknader med högre risk i mindre städer i Sverige, utan en ökning av investeringsvolymer har observerats i hela Sverige. Investeringsstrategierna skiljer sig åt mellan fastighetsbolagen, en del investerar främst i storstäderna medan andra investerar kapital i mindre städer

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Hermansson, Olivia, and Frida Strandberg. "The lawyer as a Real Estate Agent." Thesis, KTH, Fastigheter och byggande, 2016. http://urn.kb.se/resolve?urn=urn:nbn:se:kth:diva-189267.

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This thesis addresses the exception regarding lawyers in the Swedish fastighetsmäklarlagens §5 and aims to understand the background and meaning of the exception. Further the thesis addresses whether the main purpose of the estate agents act, the protection of consumers, is satisfying when a lawyer is practicing real estate agency. The study is based on the Swedish fastighetsmäklarlagen and aims to investigate the application of the act on both real estate agents and lawyers as they convey real estate. In order to clarify and understand the application of the law and to receive a view of the specific characteristics of each occupation, the occupational roles are investigated in detail and compared. The act distinguishes between conveying real estate professionally and conveying on single occasions. The demarcation of the concept determines whether the person conveying real estate is obliged to follow fastighetsmäklarlagen or not. A lawyer that is professionally conveying real estate should, according to Sveriges Advokatsamfund, practice the intermediary within the lawyer’s activity. Since professional ethics in practicing real estate agency and practicing law is incompatible the lawyer is obliged to make an assessment of what is professional intermediary within and outside the lawyer’s activities. The study points out that the boundary should be clarified in order for the lawyer to facilitate the assessment. The exception in the Swedish fastighetsmäklarlagen is important if a lawyer is professionally conveying real estate within the lawyer’s activity, but if the intermediary is solely within the lawyer’s general activity the exception has no function. A lawyer is suitable to pursue only those activities that are included within the scope of legal services, including intermediary corresponding to advocacy and not professional intermediary. For those situations that can be listed as professional intermediary, a real estate agent should be hired. Consideration whether the §5 should be changed or removed is required.
Uppsatsen behandlar undantaget avseende advokater i fastighetsmäklarlagens 5 § och syftar på att förstå undantagets bakgrund och innebörd. Vidare behandlar uppsatsen huruvida fastighetsmäklarlagens huvudsakliga syfte, konsumentskyddet, tillgodoses då en advokat utövar fastighetsförmedling. Studien utgår från fastighetsmäklarlagen och utreder lagens tillämpning på respektive yrkesroll, fastighetsmäklaren och advokaten, vid förmedling av fastigheter. För att få klarhet i och förstå tillämpningen av lagen utreds yrkesrollerna ingående samt jämförs för att ge en inblick i yrkesspecifika egenskaper. Lagen skiljer på den som yrkesmässigt förmedlar och den som enbart förmedlar vid något enstaka tillfälle. Gränsdragning avseende förmedlingsbegreppet avgör huruvida den som utövar förmedlingen har skyldighet att följa fastighetsmäklarlagen eller inte. En advokat som yrkesmässigt förmedlar fastigheter ska, enligt Sveriges advokatsamfund, utöva förmedlingen inom ramen för advokatens verksamhet. Då god fastighetsmäklarsed och god advokatsed är oförenliga medför det att advokaten själv måste göra en bedömning av vad som är yrkesmässig förmedling inom och utom ramen för advokatens verksamhet. I studien menas att gränsdragningen bör tydliggöras för att underlätta advokatens bedömning. Undantaget i fastighetsmäklarlagen kan ha betydelse om advokaten yrkesmässigt förmedlar inom ramen för sin verksamhet, men fyller ingen funktion i de fall då advokaten enbart förmedlar inom ramen för advokatens generella verksamhet. Advokaten är lämplig att ägna sig åt enbart sådan verksamhet som ingår inom ramen för advokatverksamhet, däribland förmedling som motsvarar advokatverksamhet och inte yrkesmässig förmedling. I de förmedlingsfall som kan räknas till yrkesmässig förmedlingsverksamhet bör istället en fastighetsmäklare anlitas. Det bör övervägas om 5 § ska förändras och undantaget avlägsnas

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Jauregui, Andres Hite Diane. "Three essays on real estate, environmental, and urban economics using the hedonic price model technique." Auburn, Ala., 2006. http://repo.lib.auburn.edu/2006%20Spring/doctoral/JAUREGUI_ANDRES_28.pdf.

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Persson, Krister, and Odinn Arnason. "SWEDISH REAL ESTATE AS A HEDGE AGAINST INFLATION : - With comparison to stocks, bonds and gold." Thesis, KTH, Bygg- och fastighetsekonomi, 2012. http://urn.kb.se/resolve?urn=urn:nbn:se:kth:diva-97931.

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The objective of this research is to analyze residential, unsecuritized and securitized real estates’ ability to hedge inflation in Sweden and compare it to stocks’, bonds’ and gold’s ability to hedge inflation.This research is based on both descriptive statistical and econometric analysis methodology with use of both quarterly and annual data series. First are the correlations between assets and actual, expected and unexpected inflation analyzed. Inflation betas are then estimated for all assets based on an ordinary least square model. The results indicate that, during the researched period 1993-2011, none of the studied exposures of real estate are a hedge against actual, expected nor unexpected inflation. As expected the results also indicate that both stocks and bonds have a negative relation to inflation, while gold seems to be a partial hedge against inflation. However, all inflation betas have a low R square and low statistical significance in general. Real estate in Sweden is not a hedge against inflation as it traditionally is perceived to be and real estate returns might be driven by business cycles, accessibility to financing and expectations of interest rates rather than inflation.

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Arnason, Odinn, and Krister Persson. "Swedish Real Estate as a hedge against inflation : With comparison to stocks, bonds and golds." Thesis, KTH, Fastigheter och byggande, 2012. http://urn.kb.se/resolve?urn=urn:nbn:se:kth:diva-102213.

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The objective of this research is to analyze residential, unsecuritized and securitized real estates’ ability to hedge inflation in Sweden and compare it to stocks’, bonds’ and gold’s ability to hedge inflation. This research is based on both descriptive statistical and econometric analysis methodology with use of both quarterly and annual data series. First are the correlations between assets and actual, expected and unexpected inflation analyzed. Inflation betas are then estimated for all assets based on an ordinary least square model. The results indicate that, during the researched period 1993-2011, none of the studied exposures of real estate are a hedge against actual, expected nor unexpected inflation. As expected the results also indicate that both stocks and bonds have a negative relation to inflation, while gold seems to be a partial hedge against inflation. However, all inflation betas have a low R square and low statistical significance in general. Real estate in Sweden is not a hedge against inflation as it traditionally is perceived to be and real estate returns might be driven by business cycles, accessibility to financing and expectations of interest rates rather than inflation.

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Hägg, Gustav, and Niklas Jonsson. "Brand building activities in Small Service Firms: A Qualitative Study on Swedish Real Estate Firms." Thesis, Halmstad University, School of Business and Engineering (SET), 2010. http://urn.kb.se/resolve?urn=urn:nbn:se:hh:diva-5220.

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Brand building is a highly researched phenomenon when it comes to large enterprises in product oriented industries. However, when it comes to small firms and especially the service industry branding is a relatively new topic. This article explores the field of small service firms and their efforts in building their brand. The starting point rests on the creation of an organizational identity which is the values and beliefs that concurrently creates the foundation for the firm´s internal procedures. The purpose of this study is to get an understanding on how small service firms build their brand. Therefore, this article uses a qualitative approach with multiple cases with responding firms ranging from 2 to 12 employees. This was done in the effort of finding patterns on how brand building is conducted in small service firms. The findings shows that brand building is an important aspect that small service firms place great efforts on and that despite shortages in resources they build their brand by using alternative methods that are less resource intensive. The respondents argue that they have the organization as a base when creating their marketing activities. Important characteristics are consistency, honesty, creativity, integrity and heritage. Together they build a foundation for a unification of the firm that is presented through the brand. A unified organization is then used as a way of branding themselves towards new customers with the help of both reputation gained and word-of-mouth.

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Dissertations / Theses on the topic 'Swedish real estate agents'

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