Wisconsin Real Estate Sales Practice Exam

Disable ads (and more) with a membership for a one time $4.99 payment

Prepare for the Wisconsin Real Estate Sales Exam with comprehensive study resources. Access multiple choice questions and explanations. Get ready to succeed in your test!

Practice this question and more.

What is the net amount the seller receives after paying the listing broker a 10% commission on a property sold for $100,000?

$90,000
$80,000
$10,000
$70,000

The correct answer is: $90,000

To determine the net amount the seller receives after paying a 10% commission on a property sold for $100,000, you first need to calculate the commission amount. The commission is calculated as follows: 10% of $100,000 equals $10,000. Next, you subtract the commission from the sale price to find out the net amount received by the seller: $100,000 (sale price) - $10,000 (commission) = $90,000. Therefore, the net amount the seller receives after paying the commission is indeed $90,000. This calculation highlights the importance of understanding how commission percentages work when determining the proceeds from a sale.