Real Estate Math
A Virginia seller listed their home for $529,000 and accepted an offer at $510,000. The commission is 5.5%. What is the commission dollar amount?
A$28,050✓ Correct
B$29,095
C$26,775
D$25,500
Explanation
Commission = $510,000 × 5.5% = $28,050.
Related Virginia Real Estate Math Questions
- A Virginia agent lists 12 homes per year averaging $400,000 each. At a 3% commission (listing side), what is their annual gross commission income?
- A Virginia agent earned a 3% commission on a $520,000 sale. Their broker splits 60/40 with the agent keeping 60%. What did the agent net?
- A Virginia home sells for $375,000. The seller's broker charges 6% commission split equally between buyer's and seller's broker. What does each broker receive?
- A Virginia commercial property has an effective gross income of $180,000, operating expenses of $72,000, and a cap rate of 7%. What is the estimated value?
- If a Virginia home is assessed at 90% of market value and the tax bill is $2,700 with a rate of $1.00 per $100, what is the market value?
- A Virginia seller owes $180,000 on their mortgage. The home sells for $320,000. Selling costs are 7% of the sale price. What are the seller's net proceeds?
- A Virginia investor buys a property for $240,000 and spends $40,000 renovating it. She sells it for $340,000 with $20,000 in selling costs. What is the profit?
- A Virginia brokerage has 15 agents. If they need to split $180,000 in total commissions equally (after the brokerage keeps 20%), how much does each agent receive?
Practice More Virginia Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Virginia Quiz →