Real Estate Math
An agent earns a 2.5% commission on both sides of a transaction (representing both buyer and seller as a limited agent). The sale price is $520,000. What is the total commission?
A$13,000
B$20,800
C$26,000✓ Correct
D$15,600
Explanation
Total commission = $520,000 × 5% (2.5% + 2.5% both sides) = $26,000. To solve this, multiply the relevant values: $520,000 at 2.5%.. The correct answer is $26,000.. This is a common calculation on the Utah real estate exam.
Related Utah Real Estate Math Questions
- A commercial property is valued at $875,000 using a cap rate of 7%. If the NOI increases by $5,000 per year, what is the new estimated value at the same 7% cap rate?
- A Utah investor receives a seller contribution of $12,000 toward closing costs on a $400,000 purchase. What percentage of the purchase price is this?
- A seller receives net proceeds of $385,000 after a 6% commission. What was the sales price? (Round to nearest dollar.)
- A homeowner in Utah has $95,000 in equity in their home. Their home is worth $425,000. What is their current LTV?
- A home sold for $550,000 with 3.5% FHA down payment. What is the loan amount and the upfront MIP at 1.75%?
- A real estate agent earns a 6% commission on a $350,000 sale. The listing and selling commissions are split 50/50 between two brokers and the agent earns 60% of their broker's side. How much does the agent receive?
- A property has a market value of $380,000. The county assesses it at 55% of market value and applies a tax rate of $12 per $1,000 of assessed value. What are the annual property taxes?
- A triangular lot has a base of 200 feet and a height of 150 feet. What is its area in square feet?
Practice More Utah Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Utah Quiz →