Real Estate Math
A broker lists a property for $450,000 and agrees to a 5.5% commission. The property sells for $440,000. What is the broker's commission?
A$24,750
B$24,200✓ Correct
C$22,000
D$23,100
Explanation
Commission is calculated on the actual sale price: 5.5% × $440,000 = $24,200. To solve this, multiply the relevant values: $450,000 and $440,000 at 5.5%.. The correct answer is $24,200.. This is a common calculation on the New Hampshire real estate exam.
Related New Hampshire Real Estate Math Questions
- A property in Nashua has an assessed value of $380,000 and the town's mill rate is 20 mills. What is the annual property tax?
- A NH property has a tax assessment of $410,000 and the mill rate is 22.5 mills. What is the annual property tax?
- A property in Keene, NH sells for $242,000. The buyer pays their share of the NH Real Estate Transfer Tax. How much does the buyer owe?
- New Hampshire's real estate transfer tax is $0.75 per $100 of purchase price, paid by each party. For a $350,000 sale, what does each party (buyer and seller) pay?
- An investor purchases a rental property for $225,000. After 5 years the property is worth $270,000. What is the percentage appreciation?
- A NH property has a gross income multiplier (GIM) of 9 and generates $78,000 in gross annual income. What is the estimated property value?
- A NH property originally purchased for $275,000 sold for $340,000 after 4 years. What was the total percentage gain in value?
- A NH property rents for $1,950/month. Over 12 months, the property has 6 weeks of vacancy. What is the effective gross income for the year?
Practice More New Hampshire Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free New Hampshire Quiz →