Question 1

A property sells for $450,000. The total commission rate is 6%, and the listing broker splits it 50/50 with the buyer's broker. The listing broker then gives the salesperson 60% of their half. How much does the salesperson earn?

Accepted Answer

$8,100. Total commission = $27,000; listing broker's half = $13,500; salesperson's 60% = $8,100.

Question 2

A salesperson earned $11,250 on a sale. If the commission rate was 5% and the salesperson received 50% of the total commission, what was the sale price of the property?

Accepted Answer

$450,000. Total commission = $22,500; sale price = $22,500 ÷ 0.05 = $450,000.

Question 3

A broker charges a 7% commission on the first $100,000 of a sale price and 5% on the remainder. What is the total commission on a $320,000 sale?

Accepted Answer

$18,000. Commission on first $100,000 = $7,000; commission on remaining $220,000 = $11,000; total = $18,000.

Question 4

A seller wants to net $285,000 after paying a 5% commission. What must the property sell for (rounded to the nearest dollar)?

Accepted Answer

$300,000. Sale price = $285,000 ÷ 0.95 = $300,000.

Question 5

A salesperson receives 45% of the commission on listings and 55% on sales. If a property listed and sold by the same salesperson sold for $380,000 at a 6% commission, how much does the salesperson earn in total?

Accepted Answer

$22,800. Total commission = $22,800; salesperson earns 45% + 55% = 100% of $22,800 = $22,800. (When representing both sides, salesperson earns full commission from their broker split — here the combined rate equals 100% of the $22,800.)

NY Real Estate Exam: Math Calculations

Study Modes

Practice Test

Study Guide

Try These Cards

Related Study Decks

Agency Law – NY Real Estate Salesperson Exam

Agency Relationships – NY Real Estate Salesperson Exam

Contracts & Agency – NY Real Estate Salesperson Exam

Contracts & Deeds: NY Real Estate Salesperson Exam

Fair Housing Laws – NY Real Estate Salesperson Exam

Finance & Mortgages – NY Real Estate Salesperson Exam

Unlock the Full New York Real Estate Salesperson Exam Study Bundle