A home sells for $380,000. The total commission is 5.5%. The listing broker and selling broker split the commission equally. The listing salesperson receives 60% of the listing broker's share. What does the listing salesperson earn?
Why $6,270 Is Correct
Answer A: $6,270
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 Delaware Questions
- A rectangular lot is 150 feet wide and 200 feet deep. What is its area in square feet?Real Estate Math
- A property has a net operating income of $48,000 per year. Using a capitalization rate of 8%, what is the estimated value?Real Estate Math
- A lender's title insurance policy protects:Escrow & Title
- A Delaware lot measures 100 feet by 150 feet. What is its area in acres? (1 acre = 43,560 sq ft)Real Estate Math
- A Delaware lot measures one-half acre. How many square feet is it? (1 acre = 43,560 sq ft)Real Estate Math
- How many hours of pre-license education must a Delaware real estate salesperson candidate complete before sitting for the licensing exam?Delaware License Law
- The Delaware real estate licensing exam consists of how many questions?Delaware License Law
- What is a 'common area maintenance' (CAM) charge in a Delaware commercial lease?Property Management
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 Delaware Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Delaware Quiz →