Real Estate Math
A Nevada listing agent has an exclusive listing that expires without a sale. The seller re-lists with a new agent 45 days later and sells. Is any commission owed to the first agent?
AYes, the first agent earns full commission for procuring any buyer
BOnly if the first agent introduced the eventual buyer to the property during their listing period, and the listing agreement contains a 'protection period' (extender clause) covering the time between expiration and the new contract✓ Correct
CNo commission is ever owed after a listing expires
DThe two agents must split the commission equally in Nevada
Explanation
Most Nevada listing agreements include a 'protection period' or 'extender clause' — if the property sells within a specified period (typically 60-180 days) after the listing expires to someone the first agent introduced during their listing period, the first agent's commission is owed. The key is: (1) the buyer was introduced by the first agent during the listing, (2) the sale occurs within the protection period, and (3) the seller knew the buyer was on the agent's list.
Related Nevada Real Estate Math Questions
- A Nevada property is purchased for $340,000 with a 20% down payment. What is the loan amount?
- A Nevada property was purchased for $200,000 three years ago and now sells for $260,000. What is the annual appreciation rate (simple)?
- A Nevada property appreciates 5% per year. If it is currently worth $380,000, what will it be worth in 3 years?
- A Nevada investor uses the income approach to value a small apartment building. The NOI is $72,000 and comparable cap rates are 8%. What is the estimated value?
- A Nevada seller is required to pay the buyer's 2% closing costs out of proceeds. If the sale price is $450,000, what does the seller net after a 5% commission and these closing costs?
- A Nevada agent lists a home and earns a 3% commission on a $520,000 sale. After paying their broker a 25% desk fee, how much does the agent net?
- A Nevada investor buys a property for $250,000, spends $45,000 in renovations, and sells it for $385,000 after paying $23,100 in selling costs. What is the investor's net profit?
- A Nevada property has a 7.5% cap rate. If the property is valued at $1,200,000, what is the annual NOI?
Practice More Nevada Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Nevada Quiz →