Real Estate Math
A South Dakota property sells for $520,000 and the listing broker and buyer's broker each receive 2.5% of the sale price. What is each broker's gross commission?
A$10,400
B$13,000✓ Correct
C$26,000
D$7,800
Explanation
Each broker's commission = $520,000 × 2.5% = $520,000 × 0.
Related South Dakota Real Estate Math Questions
- A buyer in South Dakota puts down 25% on a $380,000 property. What is the loan amount?
- A South Dakota broker's office policy pays salespersons 65% of the office's half of the commission. On a $500,000 sale at 6% total commission, what does the salesperson receive?
- A South Dakota investor receives $3,500/month rent and has an annual NOI of $28,500. What are the annual operating expenses?
- A South Dakota commercial building cost $1,200,000 to construct. It has a 40-year economic life and straight-line depreciation. What is the annual depreciation amount?
- A South Dakota property is listed at $425,000 and receives an offer at 96% of list price. What is the offer amount?
- In South Dakota, a 40-acre parcel (1/16 section) priced at $320,000. What is the price per acre?
- A South Dakota property is rented for $1,200/month. The property management fee is 9% of collected rents. Annual property taxes are $2,400 and insurance is $1,200. What are the total annual expenses (including management)?
- A South Dakota property is purchased for $420,000 with a 25% down payment. What is the loan-to-value ratio?
Practice More South Dakota Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free South Dakota Quiz →