Real Estate Math
A property in Iowa sells for $215,000. The seller pays a 6% commission. How much commission is paid?
A$10,750
B$12,400
C$12,900✓ Correct
D$13,500
Explanation
Commission = Sale Price × Commission Rate. $215,000 × 0.
Related Iowa Real Estate Math Questions
- An Iowa investor's property has a market value of $425,000. Annual property taxes are $5,100. What is the effective tax rate as a percentage of market value?
- An Iowa landlord charges $950/month for a unit. The property taxes are $3,600/year, insurance is $1,200/year, and maintenance is $1,800/year. What is the annual net operating income?
- An Iowa seller receives $178,500 after paying all closing costs including a 6% commission and $2,200 in other closing costs. What was the sale price?
- An Iowa salesperson earns 60% of the total commission on a sale. The total commission is $12,000. How much does the salesperson receive?
- An Iowa investor wants a 10% return on a $450,000 investment. What must the annual NOI be?
- A property manager charges a management fee of 8% of collected rents. In January, the property collected $9,500 in rent. What is the management fee for January?
- An Iowa property owner receives a tax bill for $5,460. The mill rate is 28. What is the assessed value?
- A salesperson earns 60% of the commission paid to the brokerage. The brokerage receives a 5% commission on a $310,000 sale. How much does the salesperson earn?
Practice More Iowa Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Iowa Quiz →