Real Estate Math
A Delaware listing agent agrees to a 5.5% commission split 55/45 between listing and buyer's broker. On a $420,000 sale, what does the buyer's broker earn?
A$11,550
B$10,395✓ Correct
C$12,705
D$9,240
Explanation
Total commission = $420,000 × 0.055 = $23,100. Buyer's broker share (45%) = $23,100 × 0.45 = $10,395.
Related Delaware Real Estate Math Questions
- A Delaware buyer's loan amount is $240,000 at 5.5% annual interest. Points paid at closing are 2 points. What is the dollar cost of the points?
- A Delaware seller nets $195,000 after paying off a $145,000 mortgage, a 5.5% commission on a sale price of $360,000, and $4,000 in other closing costs. Did the seller achieve this net?
- A Delaware buyer purchases a home for $280,000. The buyer puts 10% down. What is the loan amount?
- A Delaware buyer qualifies for a maximum monthly payment of $1,800. Using a mortgage factor of $5.37 per $1,000 borrowed (at 30 years, 6%), what is the maximum loan amount?
- Closing is on September 15. Prepaid annual property taxes are $4,380 (paid January 1 for the full year). What is the seller's tax proration credit to the buyer? (Use 365-day year.)
- How many acres is a lot that measures 30,000 square feet? (1 acre = 43,560 sq ft)
- An investment property in Delaware has a potential gross income of $96,000. The vacancy rate is 7.5% and operating expenses total $32,000. What is the net operating income?
- A Delaware property sells for $450,000. The first mortgage balance is $280,000. Closing costs and commissions total $27,000. What are the seller's net proceeds?
Practice More Delaware Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Delaware Quiz →