The Norwegian Financial Supervisory Authority (Finanstilsynet) has decided to revoke a real estate agent’s personal licence after uncovering gross and repeated breaches of the Real Estate Brokerage Act in multiple assignments where the agent was responsible. The authority found the agent unfit to hold the authorisation; the revocation took effect on 4 December 2025 and has been appealed. The findings relate to mandates handled at Schala & partners avd. Nord AS, where the agent held roles including managing director, professional manager and responsible broker, and followed supervisory work triggered by media coverage in summer 2024 and focused on eight transactions entered into before 15 June 2022. Breaches included failures in duties of care and advice to sellers in transactions involving seller credit (vendor financing) and off-market marketing to a single interested party, alongside inadequate oversight of a proxy/assistant, shortcomings in financing checks and risk disclosures, non-standard contract arrangements, and missing documentation of client consent where the normal brokerage model for contract and settlement was not followed. Finanstilsynet also recorded systematic journal-keeping failures, breaches of investigation and disclosure duties, and missing or untimely valuation and financing controls. Finanstilsynet issued a notice of possible revocation on 5 March 2025 and, after receiving the agent’s response on 4 April 2025 (including an acknowledgement of breaches), made the revocation decision on 4 June 2025.

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