During a listing agreement, a 6% commission is established. The house sells for $450,000. What is the commission?
Correct Answer
B) $27,000.00
Commission = $450,000 × 0.06 = $27,000
Why This Is the Correct Answer
Commission = $450,000 × 0.06 = $27,000
More Real Estate Math Questions
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- → A property is assessed at $250,000. The tax rate is $2.50 per $100. What is the annual tax?
- → A triangular lot has a base of 200 feet and a height of 150 feet. What is the area of the lot?
- → A seller closes on a property for $320,000. The commission is 6%, other seller closing costs are $5,000, and the existing mortgage payoff is $170,000. What are the seller's net proceeds before any tax effects?
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