A listing agent and buyer's agent split a 6% commission 50/50 on a $380,000 sale. How much does each agent's broker receive?
Why $11,400 Is Correct
Answer A: $11,400
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.
Key Real Estate Math Terms in This Question
People Also Study
Related California Questions
- An agent earns 60% of the commission her broker receives. The total commission on a $520,000 sale at 5% is split 50/50 between listing and buyer's broker. How much does the agent earn?Real Estate Math
- A house sold for $625,000. The listing agent and buyer's agent each receive 2.5% commission. How much does each agent's side receive?Real Estate Math
- A broker charges a total 6% commission on a $550,000 sale, split evenly between listing and buyer's sides (3% each). The listing agent receives 60% of the listing side. How much does the listing agent personally receive?Real Estate Math
- A listing agent earns a 6% commission on a sale of $875,000. The commission is split 50/50 with the buyer's agent brokerage. How much does the listing agent's brokerage receive?Real Estate Math
- A real estate listing agreement in which the broker earns a commission only if they are the procuring cause of the sale is called an:Contracts
- In California, a month-to-month residential tenant who has lived in a property for more than one year must receive how much advance notice to terminate the tenancy?Property Management
- Under California law, a listing agreement for the sale of a residential property must be:Contracts
- In California, which type of listing gives only ONE broker the exclusive right to earn a commission, even if the seller finds the buyer?Agency
Key Terms to Know
A real estate licensee who represents the buyer's interests in a transaction, owing fiduciary duties to the buyer.
AmortizationThe 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.
Math Concepts
Study This Topic
Practice More California Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free California Quiz →