Real Estate Math
A Maine broker charges a 5.5% commission on a $450,000 sale. The buyer's agent receives 47% of the total commission. The buyer's agent's share is:
A$9,450
B$11,633✓ Correct
C$10,395
D$12,375
Explanation
Total commission = $450,000 × 5.5% = $24,750. Buyer's agent share = $24,750 × 47% = $11,632.50 ≈ $11,633.
Related Maine Real Estate Math Questions
- A Maine property sells for $625,000. The transfer tax is $2.20 per $500. The total transfer tax on the transaction is:
- A Maine investor buys a rental property for $500,000 and sells it 5 years later for $625,000. The simple (non-compounded) annual appreciation rate is:
- A Maine home is assessed at $185,000 with a homestead exemption of $20,000 applied. The taxable assessed value is:
- A Maine property has a cap rate of 7% and an NOI of $28,000. What is the value?
- A Maine listing agent advertises a property at $459,900 and the seller accepts an offer at $445,000. The commission rate is 5.5%. What is the commission?
- A Maine property listed at $450,000 sells for 96% of the listing price. What is the sale price?
- A Maine buyer makes an offer 8% below the list price of $375,000. The offer price is:
- A Maine agent lists a home for $479,000 and it sells for $465,000. The days on market is 38. The list price to sale price ratio is approximately:
Practice More Maine Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Maine Quiz →