Foto: www.friberg.no
In recent times, I’ve found myself at the center of a complex debate in Norway’s real estate community. My views, particularly those I’ve expressed in the media, have drawn criticism from the Norwegian Association of Realtors, of which I am a member.
This controversy has even put me at risk of facing sanctions. While the specifics of the media coverage are in Norwegian and I won’t delve into them here, the crux of the matter is this: I’ve asserted—and still firmly believe—that there is a significant imbalance in Norway’s housing market. This imbalance stems from the fact that a single agent often represents both the seller and the buyer in a transaction.
Norway has well-educated real estate agents and robust laws governing the sale and purchase of homes. The real estate agent is indeed invaluable—when you’re selling. But when you’re buying a home, your representation is not nearly as strong.
The imbalance in Norway’s housing market
In Norway, the agent’s primary obligation is to the seller, who pays the agent to secure the highest possible price for the property. This naturally places the buyer at a disadvantage, particularly during the critical bidding process. While Norwegian law mandates that the agent must look after the interests of both parties, this ideal is often not achieved in practice. After all, it’s challenging to remain truly neutral when your paycheck comes from just one side of the table.
For those of you from other countries, this might be hard to comprehend. In many places, it’s standard practice for both the seller and the buyer to have professional assistance from their respective sides. Yet, in Norway, this dual representation model is the norm. Real estate organizations here are powerful and have a vested interest in maintaining the image of the real estate agent as a neutral intermediary.
The need for home buyer advocates in Norway
Surveys have shown that about half of Norway’s population believes real estate agents primarily represent the seller. Despite this, there are very few home buying advisors in the country—professionals who exclusively represent the buyer’s interests. I am one of the few who serve solely as a buyer’s advocate.
For now, the industry may not feel overly threatened by a lone voice like mine advocating for buyers. But it’s imperative that we foster a broader conversation about how Norway’s housing market truly functions. Buyers deserve to have their interests championed, and the market needs professionals who are dedicated to providing that support.
Join the conversation
I’m eager to hear from you. How is the balance between sellers and buyers addressed in your country? Do buyers have their own advocates, or do they rely on the same agents who represent sellers?
Let’s connect!
Whether you’re a buyer, a real estate professional, or someone with insights to share, I’d love to hear your thoughts.
Best regards,
Boligdama
Trude Larsen
trude@boligdama.no
