Maggie! I took the real estate exam today and passed both exams! You are a great, easy to follow teacher and instructor. I used your techniques for the math questions and was absolutely confident working the questions. I can't thank you enough for the easy to follow explanations of the vocabularies and the math questions. Bravo 👏 👏 👏 TX
I was having a really hard time understanding the math concept and you came to my life LOL. You are amazing and love the way you teach. Thank you so much!!
I have been following your videos 🙏 I need a clarification for a question: if after selling, seller gives a bonus check of $500 to selling agent. What does the agent do? 1) deposit it to savings account 2) share it with buyer's agent? 3) inform seller that bonus needs to be electronic transfer only?
Instead of dividing the 30,000 on the last question, I plugged it in as the total for the 2nd T bar. From there I multiplied it with the 70% split. I got 21,000 and then divided by 2 for the agent split. I got the same answer: 10,500. Will the way I did it mess me up for future math problems? I went ahead and worked on the question before watching you work it. It was the last question that I'm talking about.
So when calculating a brokers split the first number is always the brokers half? I wasn’t sure whether to use the first or second number when calculating the split since it doesnt clarify which amount goes to who.
A real estate company received a 6.5% commission on the sale of a property. The listing broker in the company received 40% of the commission or 9,750, what was the selling price of the property?? Please help ty
Great question! Ok for these, you have to work backwards and use the opposite operation. Normally we multiply sales price times commission rate and get the gross commission Amount the seller pays. Then we multiply the gross commission by the brokers cut to get the take home commission. Well, for this example we work backwards and divide. So, $9750/0.4 = $24,375. Then we divide $24,375/0.065 = $375,000 sales price. We can check the math and see if a house sold for $375,000 x 0.065 = $24,375. Then $24,375 x 0.4 = $9750. Just work it backwards using the opposite operation which is division. Hope that helps!
Question 7 could've used a little more detail , for example who gets 70 and who gets 30, so that we could know who we are solving for. thanks for this very useful help!
Thank you, in these types of questions where the split is shown as in #7 (70/30), the agent’s split is always shown first. Common splits are 90/10, 80/20, 70/30 and so on.
@@JustCallMaggie Virginia . I just took it yesterday and I cannot begin to tell you how many times I have taken this test and I am feeling discouraged however, I want this so bad.
These are the best real estate math tutorials out there!
You’re my new favorite fan!!! Thank you so much. I appreciate that. What state are you studying for?
I agree
Maggie! I took the real estate exam today and passed both exams!
You are a great, easy to follow teacher and instructor. I used your techniques for the math questions and was absolutely confident working the questions.
I can't thank you enough for the easy to follow explanations of the vocabularies and the math questions. Bravo 👏 👏 👏
TX
@@bukkya7978 I love this!!! Congratulations 🥳🥳🥳 Thank you for your kind words. Best of luck to you out there. Keep me posted on all your successes 🤓🫶
I was having a really hard time understanding the math concept and you came to my life LOL. You are amazing and love the way you teach. Thank you so much!!
Wow! Thank you. So glad to help and hear my teachings resonate with you. Good luck!
Awesome teaching I caught on
You are a god send Maggie, thank you for all that you do for us!
@@Gabe-jj4yf Thank you so much. I appreciate you.
Thank you so much. I was struggling before I found you !!!
Thanks for passing by. Best of luck to you on your real estate journey. 🤓🫶
Thank you for all of your math tips I passed my exam today on the first try.
@@lisaromano5290 awesome!! 👏 congratulations 🥳 Thank you so much. Good luck on your real estate journey 🤓🫶
Oh my God, i really think I'm going to FINALLY pass my national exam 😭. Thank you for this video. I can't wait to let you know when I pass ☺️
Glad to hear and best of luck. Keep me posted on your journey 🤓🫶
This helped so much, you explained it so well and at such a great speed! Thank you so much!
Thanks. I hope it wasn't too fast.
This was really helpful I'm starting my career in Dubai real estate guys and this video just lifted off a huge burden off my head.
Glad to help. Good luck to you on your real estate journey. Sounds exciting!
Thank you fir this video! WOW so helpful :)
Thank you. Glad to help. You got this!
Excellent
@@Elmacalacachimba Thank you 😊
This is awesome!
Thank you 😊
Wow , very helpful
Thank you. Glad to help. Best of luck!
I have been following your videos 🙏 I need a clarification for a question: if after selling, seller gives a bonus check of $500 to selling agent.
What does the agent do?
1) deposit it to savings account
2) share it with buyer's agent?
3) inform seller that bonus needs to be electronic transfer only?
@@nupurdalmia4443 Thank you for your support. Any monies received by a sales agent must be paid by their broker. Not sure with those answer choices.
Thank you
Yay! You’re welcome 🤓
I was figuring out the answers before you finished explaining the problem.
@@noelmiles7322 love this!!!
So was I, I was like oh I got this. Thank you Maggie. taking my State exam test on Monday Jan 6,2025. I'm glad I found your videos
Instead of dividing the 30,000 on the last question, I plugged it in as the total for the 2nd T bar. From there I multiplied it with the 70% split. I got 21,000 and then divided by 2 for the agent split. I got the same answer: 10,500. Will the way I did it mess me up for future math problems? I went ahead and worked on the question before watching you work it. It was the last question that I'm talking about.
I think that can work. Good job!
Do you ever review land description
Yes. I have a video all about property legal descriptions. Here it is 👉 th-cam.com/video/01O0Zo8LEFA/w-d-xo.html
Why is #9 D asking for the sales agent's net commission rather than the broker's? My answer was $10,125 for the broker and $1,125 for the sales agent.
Sales agent commission is 90% of the $11,250. The first number is always the sales agent’s commission percentage.
So when calculating a brokers split the first number is always the brokers half? I wasn’t sure whether to use the first or second number when calculating the split since it doesnt clarify which amount goes to who.
@@Mrs.BakerRealEstateClass if you are referring to a 70/30 or 90/10 split, for example, the agent cut is first and the broker cut is second.
A real estate company received a 6.5% commission on the sale of a property. The listing broker in the company received 40% of the commission or 9,750, what was the selling price of the property??
Please help ty
Great question! Ok for these, you have to work backwards and use the opposite operation. Normally we multiply sales price times commission rate and get the gross commission Amount the seller pays. Then we multiply the gross commission by the brokers cut to get the take home commission. Well, for this example we work backwards and divide. So, $9750/0.4 = $24,375. Then we divide $24,375/0.065 = $375,000 sales price. We can check the math and see if a house sold for $375,000 x 0.065 = $24,375. Then $24,375 x 0.4 = $9750. Just work it backwards using the opposite operation which is division. Hope that helps!
Can you do Commission Splits?
Question 7 could've used a little more detail , for example who gets 70 and who gets 30, so that we could know who we are solving for.
thanks for this very useful help!
Thank you, in these types of questions where the split is shown as in #7 (70/30), the agent’s split is always shown first. Common splits are 90/10, 80/20, 70/30 and so on.
By the way I did do better on the math after watching you video
That’s great! I’m so happy to hear that. Thank you.
You got this. Don’t give up. What state are you testing for?
@@JustCallMaggie Virginia . I just took it yesterday and I cannot begin to tell you how many times I have taken this test and I am feeling discouraged however, I want this so bad.
@@KellyKiela ok well, maybe you should book a tutoring session with me so we can go over the concepts you scored lower on.
@@JustCallMaggie how do I go about that ?
LOVE YOUR TUTORIALS! MOST EXCELLENT!
Thank you so much. Best of luck to you on your real estate journey 🤓🫶