Real Estate Math
A Nebraska buyer's agent refers a buyer to an out-of-state agent for a property in Colorado and receives a 25% referral fee on the receiving agent's 3% commission on a $500,000 sale. The referral fee is:
A$3,750✓ Correct
B$1,250
C$3,188
D$2,500
Explanation
Receiving agent's commission = $500,000 × 3% = $15,000. Referral fee = $15,000 × 25% = $3,750. To solve this, multiply the relevant values: $500,000 at 25%.. The correct answer is $3,750.. This is a common calculation on the Nebraska real estate exam.
Related Nebraska Real Estate Math Questions
- A Nebraska seller owes $182,500 on their mortgage and the property sells for $325,000 with a 6% commission and $4,800 in closing costs. How much does the seller receive after paying off the mortgage, commission, and closing costs?
- Property taxes on a $225,000 home are assessed at 95% of value with a rate of 22 mills. What are the annual taxes?
- A Nebraska home is assessed at 100% of market value of $310,000. The tax rate is 2.25%. What are the annual property taxes?
- A property's potential gross income is $60,000 per year. The vacancy rate is 5% and operating expenses are $20,000. What is the net operating income?
- A 5-unit Nebraska apartment building has all units renting for $800/month with a 6% vacancy rate. What is the annual effective gross income?
- A Nebraska commercial lease has a base rent of $2,000/month plus 5% of monthly gross sales over $25,000. If the tenant's monthly sales are $40,000, what is the total monthly rent?
- If a property has a NOI of $45,000 and a cap rate of 7.5%, what is the estimated value?
- A property sells for $560,000 with a 5.5% commission. The listing broker offers a 50/50 split with the buyer's broker. The listing broker gives the listing salesperson 60% of the listing side. How much does the listing salesperson earn?
Practice More Nebraska Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Nebraska Quiz →