2,810,349
Hi Morgan - What is 3% of X, but I've been doing it for so long, it's automatic (and I rarely do it bfore closing).
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Robert Dunn
Saratoga Springs, UT
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Ryan Huggins - Thousan...
Thousand Oaks, CA
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Lise Howe
Washington, DC
1,458,269
The only math I use is Selling Price x Commission Rate.
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Ryan Huggins - Thousan...
Thousand Oaks, CA
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Susan Emo
Kingston, ON
3,770
The cap rate is my bread and butter. Income properties that I help sell must have a minimum of a score of 6%. You get the cap rate by dividing the net income by the cost of the property. I also have an affordability calculator on my site, feel free to use it anytime http:/cahouses.net If you want to get a rough estimate on how much your property is worth, you can go to http://southerncaliforniapropertyvalues.com
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Robert Dunn
Saratoga Springs, UT
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Israel Chaidez
Los Angeles, CA
1,712,876
2+2=4. In other words keep it simple.
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Nina Hollander, Broker
Charlotte, NC
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Lyn Sims
Schaumburg, IL
3,988,013
I use addition, subtraction, multiplication and division to figure net sheets for sellers.
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Nina Hollander, Broker
Charlotte, NC
1,242,204
amortization calculation.
I do it in my head, and net sheet within +/- 5%.
Most realtor can forget the top but never miss a penney on their commission.
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Sam Shueh
San Jose, CA
4,584,246
The Jethro Bodine Fourth Grade Book of Cipherin'.
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Susan Emo
Kingston, ON
846,475
5,245,484
Regardless of you math skills, most agents can calculate their commission!
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Jamie Garner
Saint George, UT
991,752
Percentage - good luck with your new profession
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Jessie Cochran
Panama City, FL
3,744,418
Nothing the calculator on my iPhone can't handle.
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Lise Howe
Washington, DC
5,116,528
2,785,456
You have to know how many feet are in an acre (43,560). You also should know what land goes for (county assessor) and the cost to build new (price per sq ft). Finally, to be able to know that 1/3 to 1/4 of income goes to rent and or mortgage payments and quickly qualify someone (rough) right there & then. An agent who wields this type of math is worthy of trust & wages too
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Kim Heiny
West Point, UT
5,258,256
Addition, subtraction, division - working on CMAs, tabulating Seller Net Sheets and checking Closing Disclosures. Nothing complicated! Good luck on your exam!
2,222,281
544,014
2,190,182
Converting lot size into acreage... and calculating commission, of course.
5,583,328
3,416,038
1,506,923
1,153,794
3,500 calories = 1 pound
There are days where it's posible that I have had breakfast, lunch & dinner with different customers. In light of that nutrition is our key to health which helps accomplish the tasks we're subjected to. Eat right!
4,906,660
1,466,257
232,019
4,800,132
1,728,767
3,071,589
2,379,876
3,627,272
7,870,977
4,434,177
2,459,243
Math in real estate is simple, so I don't really think too much about it.
However, now that you asked the question, the thing I calculate most often is total property tax. I usually check taxes before I do showings since the taxes can be a huge factor in whether or not someone can buy a specific house. So I add the town/county taxes and the school taxes and make sure I add the state reduction back in. Not a big deal, but definitely the math I do most frequently.
4,319,873
morgan stone - different agents have different 'agreement' with their clients when it comes to compensation....
And that seems the most logical answer.
5,063,230
Probably sales price x Commission percentage = my pay check, plus basic math for net sheets, offers, etc.
2,443,250
6,424,867
3,168,134
3,986,308
3,383,434
941,578
A handy calculation that I used some Algebra(I'm guessing) was to create a formula to counter back to HUD for the sale of their HUD Homes in order to accept their counter.
Even though they don't tell you the HUD counter is based on the NET proceeds so if your buyer did not ask for any seller concessions and you used the HUD calculated real estate commission the figure to counter back to HUD to get the offer accepted is:
NET PRICE(HUD counter figure)
____________________________________ = Gross Price for buyer to counter
.94
1,847,771
There are hundreds/thousands or mort calculators online so no need for those.
If I remember for the test it was 7-11 for an acre (43,560). There were a couple more but I'm not recalling.