Real Estate Math
A Massachusetts real estate agent worked 180 hours on a transaction. The total commission paid to the agent was $18,000. What was the agent's effective hourly rate?
A$100✓ Correct
B$90
C$180
D$120
Explanation
Hourly rate = Commission ÷ Hours = $18,000 ÷ 180 = $100 per hour. Using the values given ($18,000), apply the appropriate formula.. The correct answer is $100.. This is a common calculation on the Massachusetts real estate exam.
Related Massachusetts Real Estate Math Questions
- A Massachusetts multifamily property has an annual NOI of $156,000. Using a cap rate of 5.5%, what is the estimated value?
- A property is assessed at 80% of its market value of $380,000. The tax rate is $12.50 per $1,000 of assessed value. What is the annual property tax?
- A property is appraised at $445,000. The buyer obtains an 80% LTV mortgage. What is the loan amount?
- A Massachusetts apartment building has 8 units each renting for $1,800/month. Annual operating expenses are $62,000. What is the annual NOI?
- A rectangular lot is 75 feet wide and 160 feet deep. If land sells for $28 per square foot, what is the lot value?
- A Massachusetts landlord deposits a $2,400 security deposit and $2,400 last month's rent. After one year at 5% interest, what is the total interest owed to the tenant?
- A Massachusetts agent is paid a commission of $19,800 which represents 3% of the sale price. What was the sale price?
- A Massachusetts investor purchases a rental property for $400,000 and receives monthly rent of $2,800. What is the gross rent multiplier (GRM)?
Practice More Massachusetts Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Massachusetts Quiz →