Real Estate Math
A Minnesota buyer's agent receives 2.8% of a $425,000 sale price. How much does the buyer's agent's brokerage earn?
A$11,900✓ Correct
B$10,200
C$12,000
D$11,000
Explanation
Buyer's agent commission = $425,000 x 2.8% = $11,900.
Related Minnesota Real Estate Math Questions
- A Minnesota property is assessed at 85% of its market value of $320,000. The tax rate is $22 per $1,000 of assessed value. What is the annual property tax?
- A Minnesota seller wants to net $285,000 after paying a 6% commission and $3,500 in closing costs. Approximately what sale price is needed?
- Using straight-line depreciation, a commercial building valued at $900,000 (land value excluded) with a 39-year economic life depreciates annually by approximately:
- If a Minnesota property sold for $310,000 and the commission rate was 5.5%, how much commission was paid to the listing side if it receives 60% of the total commission?
- A seller nets $285,000 after paying a 6% commission on the sale price. What was the sale price?
- A property is purchased for $180,000 and sold 3 years later for $225,000. What is the percentage gain?
- A Minnesota property's value is estimated using the income approach. NOI is $42,000 and the cap rate is 7%. What is the estimated value?
- A Minnesota commercial property generates $150,000 in annual NOI and the investor wants a 7.5% cap rate return. What should the investor pay for the property?
Practice More Minnesota Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Minnesota Quiz →