A property sells for $245,000 with a total commission rate of 6%. What is the total commission earned?
Correct Answer
B) $14,700
To calculate the total commission, multiply the sale price by the commission rate: $245,000 × 0.06 = $14,700.
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Related Topics & Key Terms
Related Topics:
Key Terms:
Related Concepts
Net operating income (NOI) is the annual income generated by an income-producing property after deducting operating expenses, but before deducting mortgage payments, income taxes, and depreciation.
Net Operating Income (NOI) is the revenue a property generates after deducting all operating expenses.
Converting a percentage to a decimal involves dividing the percentage value by 100.
More Real Estate Math Questions
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