Real Estate Math
A property sells for $560,000. The seller's broker charges 5.5% commission. What is the total commission dollar amount?
A$25,200
B$28,000
C$30,800✓ Correct
D$33,600
Explanation
$560,000 × 0.055 = $30,800.
Related Connecticut Real Estate Math Questions
- 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?
- An agent sold 12 homes during the year with an average sale price of $435,000 and earned a 2.7% share of commission. What was the agent's total annual commission income?
- A Connecticut apartment building has 8 units each renting for $1,800/month. The vacancy rate is 8.33% (1 unit vacant). What is the effective gross income per month?
- A Connecticut investment property generates monthly rents of $3,500. Using a GRM of 130, what is the estimated value?
- A Connecticut property was appraised at $610,000. The buyer puts 15% down and obtains a mortgage for the balance. What is the loan amount?
- A rental property in Connecticut has potential gross income of $96,000. Vacancy is 5% and operating expenses are $35,000. The cap rate is 6%. What is the property value?
- An investor pays $850,000 for a property and receives annual NOI of $59,500. What is the cap rate?
- A Connecticut property is listed at $425,000. The seller agrees to pay a 5.5% commission. What is the total commission paid at closing?
Practice More Connecticut Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Connecticut Quiz →