Real Estate Math
A property is listed at $499,000. A buyer offers $480,000. The seller counters at $492,000. They finally agree at $488,000. What is the commission at 5.5%?
A$26,840✓ Correct
B$26,620
C$27,445
D$27,390
Explanation
Commission = 5.5% × $488,000 = $26,840. To solve this, multiply the relevant values: $499,000 and $480,000 at 5.5%.. The correct answer is $26,840.. This is a common calculation on the Georgia real estate exam.
Related Georgia Real Estate Math Questions
- A borrower qualifies for a maximum monthly payment of $1,800. If the loan factor for a 30-year mortgage at 6.5% is $6.32 per $1,000, what is the maximum loan amount (rounded to nearest $1,000)?
- A borrower pays 2 points on a $320,000 loan. What is the dollar cost of the points?
- A 10-unit building with average rent of $1,050/month sells at a price/unit ratio of $85,000. What is the purchase price?
- A home is listed at $350,000 and sells for 97% of list price. What is the actual sale price?
- A property has a gross income of $75,000, expenses of $30,000, and debt service of $25,000. What is the before-tax cash flow?
- A rectangular lot is 150 feet wide and 200 feet deep. What is the lot area in acres? (1 acre = 43,560 sq ft)
- A rectangular parcel measures 660 feet by 330 feet. How many acres is this? (1 acre = 43,560 sq ft)
- A property's annual NOI is $36,000. Using a 7.5% cap rate, what is the estimated value?
Practice More Georgia Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Georgia Quiz →