Florida Real Estate Practice Exam

Your seller wants to net $100,000 after the 5% commission is paid. Assuming no closing costs, at what price does the home need to sell for the seller to net this amount?

1. $105,163.16

2. $105,263.16

3. $105,363.16

4. $105,463.16

The correct answer is: $105,263.16

To net $100,000 after paying a 5% commission, the home needs to sell for $105,263.16. This is the total price of the home, including the 5% commission. Option A and C are incorrect because they do not account for the 5% commission and only include the amount the seller wants to receive. Option D is incorrect because it includes the total amount of the home plus the commission, which would result in the seller receiving more than the desired $100,000.