Ace the Arizona Real Estate Exam 2026 – Unlock Your Property Dreams!

To determine the minimum sales price required for the seller to net $130,500 after paying an 8% commission and $11,000 in closing costs, it's essential to calculate the total amount that must be received before these deductions.

First, we need to account for the closing costs, which are a fixed amount of $11,000. This means the seller's effective net amount before commissions needs to be $130,500 plus these closing costs. Therefore, the seller needs to receive a total of $130,500 + $11,000, resulting in $141,500.

Next, we consider the commission. Since the commission is 8% of the sales price, if we denote the sales price as 'P', the commission will be 0.08 * P. Consequently, the amount left after deducting this commission from the sales price must equal the $141,500 needed to cover both the net amount and the closing costs. This gives us the equation:

P - 0.08P = $141,500

Simplifying this, we have:

0.92P = $141,500

To find 'P', we divide both sides by 0.92:

P = $141,500 /