Real Estate Math Flashcards
1
Q
What is the equation for calculating the Total Commission?
A
Total Commission = The Sales Prices x Rate of Commission
2
Q
What is the equation for calculating the Commission Rate?
A
Commission Rate = Commission / The Price
3
Q
What is Profit?
A
Profit is when you sell something for more than the amount you bought it for
4
Q
What is a Loss?
A
A loss is incurred when you sell something for less than what you bought it for
5
Q
What is the equation for Percentage of Profit?
A
Percentage of Profit = The Profit / Original Cost
6
Q
What is a profit margin?
A
It’s the percentage of the selling price that turned into profit
