FEATURED CHALLENGE: OVERVIEW
Become a Real Estate Expert
You’re a real estate agent on the popular show, House Hunters!
You buy and sell the most luxurious homes and buildings in the world. You earn money from selling the most popular homes in the world. Use percents, ratios and proportions to calculate how much you’ve earned!
Grade 7 | Ratios & Proportional Relationships | Time: 50 minutes
Common Core State Standards: 7.RP.A.3
Careers: Marketing, Sales & Service
Sell your first property
It is the Plaza Hotel in NYC! What amount would you earn from an agreed percentage of commission?
On to the next...
Poll with your class to choose your second property.
- You drop the price of the property to sell it faster! What effect does this have on your commission?
- Tax time! How much tax do you need to pay on your earnings?
Pick the best deal
With your next property, the seller has offered a fixed amount commission. Which should you choose– the seller’s offer or your usual 3.5% fee?
ACTIVITY: Find a real property for sale on Trulia.com. Create a poster for the seller showing your property, sale price, taxes and your proposed % commission
BONUS: ADVANCED LEVEL
You expand internationally, but wait...
...which country should you focus on, based on local commission rates and taxes?
Apply math concepts in real-world scenarios. Build critical thinking and reasoning skills.
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