Real Estate Math
A Connecticut property sold for $590,000. The buyer's agent earned 2.5% of the sales price. What was the buyer's agent's commission?
A$11,800
B$13,250
C$14,750✓ Correct
D$15,000
Explanation
$590,000 × 0.025 = $14,750. To solve this, multiply the relevant values: $590,000 at 2.5%.. The correct answer is $14,750.. This is a common calculation on the Connecticut real estate exam.
Related Connecticut Real Estate Math Questions
- A Connecticut property has an effective gross income of $48,000 and annual operating expenses of $18,000. What is the net operating income?
- A Connecticut investor purchases a 4-unit property at a 6.8% cap rate. The annual NOI is $51,000. What is the purchase price?
- A buyer wants to put down 25% on a $520,000 house. How much is the down payment?
- Annual property taxes are $9,180. What is the monthly tax escrow payment required by the lender?
- A property is valued at $420,000 using a 7% cap rate. What is the annual NOI?
- A Connecticut home is listed at $425,000. The seller accepts an offer of 96% of list price. What is the accepted offer price?
- A property sells for $720,000. The state conveyance tax is 0.75% on the first $800,000. What is the conveyance tax?
- A rectangular lot in Connecticut measures 150 feet by 200 feet. What is the lot's area in acres? (1 acre = 43,560 sq ft)
Practice More Connecticut Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Connecticut Quiz →