Question 1

A home sells for $285,000. The total commission rate is 6%. The listing broker and selling broker split the commission 50/50. The listing salesperson receives 60% of the listing broker's share. How much does the listing salesperson earn?

Accepted Answer

$5,130. Total commission = $285,000 × 6% = $17,100. Each broker receives $8,550. The listing salesperson receives 60% of $8,550 = $5,130.

Question 2

A seller wants to net $210,000 after paying a 7% commission. What must the property sell for (rounded to the nearest dollar)?

Accepted Answer

$225,806. Divide the desired net by the complement of the commission rate: $210,000 ÷ 0.93 = $225,806.

Question 3

A broker earns a $9,450 commission on a property sale. The commission rate was 5.25%. What was the sale price of the property?

Accepted Answer

$180,000. Divide the commission by the rate: $9,450 ÷ 0.0525 = $180,000.

Question 4

A property manager charges 8% of collected rents. The building collects $14,500 per month. What is the annual property management fee?

Accepted Answer

$13,920. Monthly fee = $14,500 × 8% = $1,160. Annual fee = $1,160 × 12 = $13,920.

Question 5

A salesperson's commission split with their broker is 55/45. The salesperson earned $6,600 on a transaction. What was the total commission paid to the broker's office?

Accepted Answer

$12,000. If the salesperson's 55% share equals $6,600, divide by 0.55: $6,600 ÷ 0.55 = $12,000.

Florida Real Estate Exam: Math Calculations

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