An Arizona property sold for $350,000. The total commission rate is 6%. The listing broker and buyer's broker split the commission 50/50. How much does each broker receive?
Why $10,500 Is Correct
Answer A: $10,500
Exam Tip: Real Estate Math
Math questions are formula-based. Memorize the key formulas: commission splits, proration, cap rate (NOI ÷ Value), GRM (Price ÷ Gross Rent), and LTV (Loan ÷ Value). Practice converting between annual and monthly figures.
People Also Study
Related Arizona Questions
- A property sells for $540,000. The commission is 5.5% total. The listing broker and buyer's broker split it 55%/45%. How much does the buyer's broker receive?Real Estate Math
- The total commission on a $420,000 sale is 6%. The listing side receives 50% and the selling side 50%. The listing salesperson's split with the broker is 60/40 in the salesperson's favor. How much does the listing salesperson receive?Real Estate Math
- A commission of $18,000 is split 55/45 between the listing and selling sides. The listing agent then splits 60/40 with their broker. How much does the listing agent receive?Real Estate Math
- A 6% commission is split 50/50 between the listing and selling brokers. The selling broker splits 70% with their salesperson. If the sale price is $460,000, how much does the selling salesperson receive?Real Estate Math
- An Arizona broker receives a net listing from a seller, which means the broker keeps everything above a set amount as commission. This practice is:Arizona License Law
- Which of the following accurately describes the Arizona real estate salesperson licensing exam structure as of January 2026?Arizona License Law
- An Arizona listing agreement gives a broker the right to sell a property, but the seller retains the right to sell it themselves without owing a commission. This is called a(n):Contracts
- An appraiser values an Arizona commercial property using a cap rate of 7% and an NOI of $63,000. What is the indicated value?Property Valuation
Key Terms to Know
The gradual repayment of a loan through scheduled periodic payments that cover both principal and interest.
Adjustable-Rate Mortgage (ARM)A mortgage with an interest rate that changes periodically based on a financial index, usually after an initial fixed-rate period.
Loan-to-Value Ratio (LTV)The ratio of a mortgage loan amount to the appraised value or purchase price of a property, expressed as a percentage.
Debt-to-Income Ratio (DTI)A lender's measure of a borrower's monthly debt obligations relative to their gross monthly income, used to evaluate loan eligibility.
Math Concepts
Study This Topic
Practice More Arizona Real Estate Questions
1,400+ questions covering all exam topics. Start free — no signup required.
Take the Free Arizona Quiz →