100 FREE Practice Exam Questions - 10 New Practice Questions Everyday! 🧐 Click the link below which will open in Messenger - m.me/TheRealEstateClassroom?ref=challenge
@@TheRealEstateClassroom I agree it is worth it. You can do a lot of things with a real estate license including going into public service at all levels of government. One Federal government job you can get is with the GSA agency they have a lot of buildings that they manage and you will get not only extensive training in commercial real estate, with no fees but a paycheck to boot...LOL
A seller paid $432,000 for a residence. The seller wants to list it at a 20 percent profit after paying the broker a 5 percent commission. What is the listing price?
Hello, Thank you for all the wonderful videos I am learning so much! I have missed this question twice on the psi practice exam. An owner lists her home at a 7% commission rate and wants to net $45,000 after paying the mortgage balance of $68,000 and the broker's commission. To the nearest dollar, what should the selling price be to net her $45,000?
Always remember... real estate commissions are negotiable between the client and the broker. So, there are no set or standard commission rates. That would be a violation of the Sherman Antitrust Act. So commissions are negotiated. It is very common to have a variable rate commission (7% the 5%). It is most often a specific commission such as 7% or 6% or 5%, etc. However, many agent will negotiate a variable rate. Such as. 7% if a cooperating broker procures the buyer, 5% if the listing agent procures the buyer. The reason is... if the listing agent procures the buyer, the seller only pays 5% of the purchase price which saves them money. At the same time, the listing broker doesn't have to share any of the commission so the listing broker and listing agent make more money.
100 FREE Practice Exam Questions - 10 New Practice Questions Everyday! 🧐 Click the link below which will open in Messenger - m.me/TheRealEstateClassroom?ref=challenge
Thank you for using the exam problem in a video. That is awesome.
That you, Gillian for commenting.
Bravo! Practicing math all weekend.
You got this! You will do awesome!
I'm so old school that. I have never used the percent button on my phone until I watched this video. Lol. Great teaching video!!!
It's always fun to learn 1 new thing everyday! :o)
Thank you so much for ALL your videos. I passed on my 8th try and i could’ve done it without your help. Dec.8th 2021
Great job! Congrats!
Is it worth getting your real estate license? Seems like everyone will be unemployed and won't be able to buy homes
Its worth it. You just have to find a good broker to work for. One that doesn't bleed you to death with fees and charges.
YES!!!!!!
@@TheRealEstateClassroom I agree it is worth it. You can do a lot of things with a real estate license including going into public service at all levels of government. One Federal government job you can get is with the GSA agency they have a lot of buildings that they manage and you will get not only extensive training in commercial real estate, with no fees but a paycheck to boot...LOL
Very helpful
Gracias
A seller paid $432,000 for a residence. The seller wants to list it at a 20 percent profit after paying the broker a 5 percent commission. What is the listing price?
Hello, Thank you for all the wonderful videos I am learning so much!
I have missed this question twice on the psi practice exam.
An owner lists her home at a 7% commission rate and wants to net $45,000 after paying the mortgage balance of $68,000 and the broker's commission. To the nearest dollar, what should the selling price be to net her $45,000?
wow the broker earn so much money
Some broker do very well
🙏🏻
In my neck of the woods (Montana) many companies don't pay a buyside broker commission. That is BS! 😡
Ya know, Danny... we see this here in Nebraska too but not overwhelming though. There are a few that won't cooperate.
Why is the commission rate split like that (7% and then 5%), whats the seller's purpose for doing so?
Always remember... real estate commissions are negotiable between the client and the broker. So, there are no set or standard commission rates. That would be a violation of the Sherman Antitrust Act. So commissions are negotiated. It is very common to have a variable rate commission (7% the 5%). It is most often a specific commission such as 7% or 6% or 5%, etc. However, many agent will negotiate a variable rate. Such as. 7% if a cooperating broker procures the buyer, 5% if the listing agent procures the buyer. The reason is... if the listing agent procures the buyer, the seller only pays 5% of the purchase price which saves them money. At the same time, the listing broker doesn't have to share any of the commission so the listing broker and listing agent make more money.
@@TheRealEstateClassroom Thank you!
40/100= 0.4 it is not .04 the .04=4%
??