Real Estate Math
A Connecticut broker receives a 6% commission on a $450,000 sale. The commission is split 50/50 with the buyer's broker. The listing broker then splits their half 60/40 with the listing salesperson. How much does the listing salesperson earn?
A$6,750
B$8,100✓ Correct
C$10,800
D$13,500
Explanation
Total commission = $450,000 × 6% = $27,000. Listing broker's half = $13,500. Listing salesperson's share = $13,500 × 40% = $5,400. The salesperson gets 60% = $8,100.
Related Connecticut Real Estate Math Questions
- A borrower takes out a $320,000 mortgage at 6.5% annual interest. What is the monthly interest for the first payment?
- A Connecticut home buyer is approved for a maximum monthly payment of $2,800 (PITI). Taxes are $425/month and insurance is $125/month. What is the maximum P&I payment available for the mortgage?
- A Connecticut property management company manages 15 properties. The total monthly rents collected are $62,500. The management fee is 7% of collected rents. What is the monthly management fee?
- A Connecticut commercial building sells for $3,200,000. The broker charges 4% commission, split equally between the listing and selling offices. Each office splits with their salesperson 70/30 (70% to salesperson). What does each salesperson earn?
- An investor buys a property for $750,000 and sells it 2 years later for $832,500. What is the total return on investment?
- A buyer has $120,000 for a down payment. If lenders require a minimum 25% down for investment properties, what is the maximum property price the buyer can afford?
- A Connecticut home was purchased for $280,000 five years ago and is now worth $336,000. What is the total percentage appreciation over 5 years?
- A Connecticut seller listed their home for $499,000 and accepted an offer for $484,030. What percentage below the list price did the buyer pay?
Practice More Connecticut Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Connecticut Quiz →