Real Estate Math
A property sells for $558,000 with a 6% commission. The listing broker splits the commission evenly with the cooperating broker. The listing agent keeps 55% of the listing broker's share. How much does the listing agent earn?
A$9,207✓ Correct
B$9,801
C$10,395
D$11,160
Explanation
Total commission = 6% × $558,000 = $33,480. Listing broker's share = 50% × $33,480 = $16,740.
People Also Study
Related Idaho Questions
- A broker charges a 5.5% commission on a $410,000 sale. The listing agent receives 60% of the listing side (which is half the commission). How much does the listing agent earn?Real Estate Math
- If a buyer's agent earns 70% of the cooperating commission, and the cooperating commission is $12,375, how much does the buyer's agent earn?Real Estate Math
- An Idaho broker charges 6% commission, split equally between listing and selling sides. If the home sells for $385,000, how much does the listing agent's brokerage receive?Real Estate Math
- A property sells for $475,000. The listing agent receives a 6% commission, split equally between listing and buying sides. What does the listing agent's broker receive?Real Estate Math
Key Terms to Know
Amortization
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 Idaho Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Idaho Quiz →