Real Estate Math
A property sells for $520,000. The commission rate is 5.5%. The listing broker and selling broker split the commission equally. How much does each broker receive?
A$14,300✓ Correct
B$28,600
C$26,000
D$15,600
Explanation
Total commission = $520,000 × 5.5% = $28,600.
Related Washington Real Estate Math Questions
- A Washington property is listed for $1,195,000. An offer comes in 4.8% below list. The offer is:
- A Washington property has a list price of $675,000. After 60 days, the price is reduced by 4%. After another 30 days, it is reduced by an additional 3%. What is the final asking price?
- A Washington property was purchased for $320,000 and sold 5 years later for $420,000. What is the percentage appreciation?
- A Washington building has 8 units, each renting for $1,400/month. The vacancy rate is 10%. What is the effective gross income (EGI) per year?
- A Washington buyer closes on March 15. Annual property taxes are $6,000 (paid in arrears). The seller owes taxes from January 1 to March 15 (73 days). Tax owed by seller:
- A Washington listing sold for $830,000 in 45 days. The home was listed at $875,000. What was the price reduction percentage?
- A Washington broker earns a graduated commission: 4% on the first $300,000 and 6% on the balance. The property sells for $550,000. What is the total commission?
- A Washington home sells for $650,000. The seller pays Washington's Real Estate Excise Tax (REET) of 1.28% on the first $500,000 and 2.75% on the amount above $500,000. What is the total REET?
Practice More Washington Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Washington Quiz →