2019 ABA Enterprises, LLC | real Estate Math Formulas Cheat Sheet 2. A banker year consists of 360 days per year with 30 days per month. A calendar year consists of 365 days with varying calendar days per month. If the question doesn't state which method to use, use the banker year method. CALENDAR YEAR The question will state which type of year should be used to solve the vs BANKER YEAR problem. If buyer gets the day of closing, do not include the day of closing in your count. If buyer gets the day of closing, include the day of closing in your count.ĥ Paid in Arrears: If seller gets the day of closing, include the day of closing in your count. Who gets the DAY of Paid in Advance: If seller gets the day of closing, do not include the CLOSING? day of closing in your count. PAID IN ARREARS: Calculate the cost for time BEFORE the closing date Usually concerns Debit Seller, Credit Buyer property tax payments. Proration Guidelines: PAID IN ADVANCE: Calculate the cost for time AFTER the closing date Usually applies to Credit Seller, Debit Buyer property insurance. Seller's Net / Sales Price (or Minimum Listing Price) = Seller's Net %. It is the percentage of the Minimum Listing Price (100% - Com %)* sale that the seller keeps as profit.Ĥ Sales Price (or Minimum Listing Price) x Seller's Net % = Seller's Net Seller's Net / Listing % = Sales Price (or Minimum Listing Price). Salesperson's Commission / Salesperson's Split % = Brokerage's Share of Commission Seller's Net Profit Seller's Net *Seller's Net % is 100% minus the Listing Commission % the seller has agreed to pay the Sales Price or Seller's Net % listing brokerage. Brokerage's Share of Commission X Salesperson's Split % = Salesperson's Commission Salesperson's Commission / Brokerage's Share of Commission = Salesperson's Split %. Salesperson's Share of Commission Salesperson's Commission Brokerage's Share of Commission Salesperson's Split %. Contract Price (Sales Price) X Listing Commission Rate % = Total Commission Paid Total Commission / Contract Price (Sales Price) = Listing Commission Rate %.ģ Total Commission / Listing Commission Rate % = Contract Price (Sales Price). Commissions and Seller's Net Profit Total Commission Paid to Broker from Seller Total Commission Contract Price or Sales Price Listing Commission Rate %. 2019 ABA Enterprises, LLC | real Estate Math Formulas Cheat Sheet 1. Converting SF to Acres: Total Square Footage / 43,560 = Number of Acres The T Method Part (small # or part) Don't Forget! TGIF: Top Goes In First! Whole (BIG #) X Rate %. Area of a Trapezoid: formula : ( / 2) x Height = Area Steps: 1. ALWAYS use 640 in this step as there are 640 acres in one section. Divide 640 by that answer, 640 / 32 = 20 acres. Multiply all denominators together (the bottom number of the fraction): 2 x 4 x 4 = 32.Ģ 3. Ignore the text section 24, township 32 north, range 18 east. Calculating Size of a Parcel: EXAMPLE: How many acres are there in the S of the SE of the SW of section 24, township 32 north, range 18 east? STEPS: 1. Depth: Area / Width 1 Section = 640 Acres Width: Area / Depth Section = 160 Acres Area of a Triangle: (Base x Height) / 2 1 Township = 36 Sections Area of a Trapezoid: (Top L + Bottom L /2) x H Volume: Length x Width x Depth Converting SF to Square Yards: Divide SF by 9. 1 real Estate Math Formulas Cheat Sheet Measurement Math: Area: Width x Depth 1 Acre = SF.
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