Real Estate Math
A Nevada property sells for $450,000. The listing agent's brokerage receives 3% and the selling agent's brokerage receives 2.5%. What is the total commission paid?
A$22,500
B$24,750✓ Correct
C$13,500
D$11,250
Explanation
Total commission = $450,000 × (0.03 + 0.025) = $450,000 × 0.055 = $24,750. To solve this, multiply the relevant values: $450,000 at 3%.. The correct answer is $24,750.. This is a common calculation on the Nevada real estate exam.
Related Nevada Real Estate Math Questions
- A Nevada property was purchased for $320,000. It appreciated 4% per year for 3 years. What is the approximate current value?
- A Nevada investor buys a duplex for $480,000. Each unit rents for $1,800/month. What is the gross rent multiplier (monthly)?
- A Nevada home sold for $480,000. The seller agreed to pay a 6% commission. What is the total commission paid?
- A Nevada commercial tenant leases 2,500 sq ft at $2.50/sq ft/month. What is the annual rent?
- A Nevada property owner pays annual property taxes of $3,600. If the tax rate is 3%, what is the assessed value?
- A Nevada lender offers a 30-year fixed mortgage at 7% on a $400,000 loan. Approximately what is the monthly principal and interest payment?
- 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 seller lists their home at $549,000. They receive an offer at $520,000. What is the offer as a percentage of list price?
Practice More Nevada Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Nevada Quiz →