Real Estate Math
An Oregon property sells for $559,000. The listing agent earns 3% and the buyer's agent earns 2.5% of the sale price. What is the total commission?
A$30,745✓ Correct
B$31,045
C$30,245
D$29,545
Explanation
Listing agent: $559,000 × 0.03 = $16,770. Buyer's agent: $559,000 × 0.025 = $13,975. Total: $16,770 + $13,975 = $30,745.
Related Oregon Real Estate Math Questions
- A Lake Oswego home is listed at $895,000 and sells for 98% of list price. The seller pays a 5% commission. What is the net to the seller (before other closing costs)?
- A 6% mortgage on a $250,000 loan has a monthly payment of $1,498.88. After the first payment, what is the remaining loan balance?
- A lot measuring 150 feet × 200 feet is for sale at $3.50 per square foot. What is the listing price?
- An Oregon property's assessed value is $260,000. The applicable tax rate is $18.50 per $1,000. If the taxes are paid in two equal installments, what is each installment?
- A home was purchased for $380,000 five years ago. It has appreciated at an average annual rate of 4%. What is the approximate current value?
- A property's market value is $475,000. If it sells at a 4% discount from market value, what is the sale price and the dollar discount?
- A buyer negotiates a seller credit of $8,000 at closing for needed repairs. The agreed sale price is $385,000. The lender will base the loan on:
- A broker charges 1.5% for property management of a 10-unit building. Each unit rents for $1,250/month. What is the broker's annual management fee?
Practice More Oregon Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Oregon Quiz →