Real Estate Math
A property sells for $450,000. The commission rate is 5.5%. What is the total commission?
A$22,500
B$24,750✓ Correct
C$27,000
D$20,250
Explanation
$450,000 × 0.055 = $24,750. Total commission = $24,750.
Related California Real Estate Math Questions
- A seller wants to net $280,000 after paying a 6% commission. What must the property sell for?
- A home sells for $625,000. The listing agent's brokerage earns a 3% commission and the buyer's agent's brokerage earns 2.5%. What is the total commission paid?
- A rectangular lot measures 150 feet wide by 220 feet deep. How many square feet does it contain?
- A borrower takes out a $350,000 mortgage at 7% annual interest for 30 years. The monthly P&I payment factor per $1,000 borrowed at 7% for 30 years is $6.653. What is the monthly payment?
- A home sells for $450,000. The commission rate is 6%. How much is the total commission?
- An investor purchases a property for $525,000 with a 25% down payment and finances the remainder. What is the loan amount and the LTV ratio?
- An investor purchases a fourplex for $800,000. The property generates $6,000/month in gross rents. What is the Gross Rent Multiplier (GRM)?
- A property is assessed at 60% of its market value of $500,000. The tax rate is $1.20 per $100 of assessed value. What are the annual property taxes?
Practice More California Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free California Quiz →