Real Estate Math
A seller wants to net $280,000 after paying a 6% commission. What must the property sell for?
A$296,800
B$297,872✓ Correct
C$286,000
D$298,000
Explanation
Net = Sale Price × (1 - 0.06). Sale Price = $280,000 ÷ 0.94 = $297,872.
Related California Real Estate Math Questions
- An agent earns 60% of the commission her broker receives. The total commission on a $520,000 sale at 5% is split 50/50 between listing and buyer's broker. How much does the agent earn?
- A property is assessed at 80% of its market value of $400,000. The tax rate is $12 per $1,000 of assessed value. What is the annual property tax?
- A home was purchased for $320,000 and sold 3 years later for $389,600. What was the total percentage appreciation over the 3 years?
- A property has a GRM of 12 and monthly rent of $3,500. What is the estimated value?
- How many acres is a parcel measuring 660 feet by 330 feet? (1 acre = 43,560 sq ft)
- A property management company charges 8% of collected rents. The monthly rent roll is $28,500 and vacancy is 10%. What is the monthly management fee?
- A property is assessed at 80% of its $500,000 market value. The tax rate is $12 per $1,000 of assessed value. What is the annual property tax?
- An agent earns a flat fee of $8,000 for a sale. The brokerage takes 30% and the agent keeps 70%. How much does the agent retain?
Practice More California Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free California Quiz →