Real Estate Math
A property sells for $625,000 with a 5.5% commission. The listing and selling brokers split the commission 50/50. The listing broker then gives their agent 60% of the listing side. How much does the listing agent receive?
A$10,312.50✓ Correct
B$12,375.00
C$10,281.25
D$20,625.00
Explanation
Total commission = $625,000 × 0.055 = $34,375.
Related New Jersey Real Estate Math Questions
- A NJ investor takes out a $600,000 interest-only commercial mortgage at 6.5% annual interest. What is the monthly interest payment?
- A NJ investor buys a property for $600,000 with 25% down and sells it 3 years later for $750,000 (ignoring taxes and costs). What is the return on equity (simple ROI on cash invested)?
- A commercial property has 8,400 sq ft of leasable space rented at $22/sq ft/year. What is the annual gross rent?
- A NJ investor bought a property for $400,000, made $50,000 in improvements, and sold it for $520,000. Ignoring taxes and closing costs, what is the return on investment (ROI)?
- An interest-only loan of $400,000 at 5.25% annual interest carries a monthly payment of:
- A NJ property generates $14,400 per month in gross rent. Annual operating expenses total $68,000. At a 6% cap rate, what is the estimated property value?
- Using a 7.5% cap rate, what is the value of a property with an annual NOI of $60,000?
- A New Jersey property sells for $450,000. The seller pays a broker commission of 5%. What is the total commission?
Practice More New Jersey Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free New Jersey Quiz →