Real Estate Math
A Colorado property sells for $485,000. The listing broker charges a 6% commission, split equally with the buyer's broker. How much does each broker's office receive?
A$14,550✓ Correct
B$17,325
C$29,100
D$34,650
Explanation
Total commission = $485,000 × 6% = $29,100. Each broker's office receives $29,100 ÷ 2 = $14,550. To solve this, multiply the relevant values: $485,000 at 6%.. The correct answer is $14,550.. This is a common calculation on the Colorado real estate exam.
Related Colorado Real Estate Math Questions
- A Colorado broker earns a 5% commission on a $780,000 sale. Their split with the employing broker is 55% to the associate and 45% to the office. How much does the associate earn?
- A Colorado investment property sold for $850,000. The original purchase price was $600,000. The owner's capital gains tax rate is 20%. Assuming a $150,000 gain after deducting improvements and depreciation recapture, what is the capital gains tax owed?
- A Colorado homeowner's property tax increased from $3,800 to $4,100. What is the percentage increase in property taxes?
- A Colorado property has a price per square foot of $185. If the home is 2,400 sq ft, what is the list price?
- A property has an assessed value of $180,000 and a mill levy of 52 mills. What is the annual property tax?
- A Colorado broker sells a property for $625,000 and receives a 2.5% buyer's agent commission. What is the broker's commission?
- A Colorado buyer purchases land for $120,000. They make $80,000 in improvements to build a home. The total assessed value for tax purposes is $200,000 × 7.15% = $14,300. With a 65-mill levy, what is the annual property tax?
- A Colorado 10-unit apartment building sells for $1,500,000. Annual gross rents are $168,000 with a 5% vacancy rate and operating expenses of $60,000. What is the cap rate at the sale price?
Practice More Colorado Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Colorado Quiz →