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?
A$11,550✓ Correct
B$12,320
C$13,860
D$23,100
Explanation
Total commission = $385,000 x 6% = $23,100. Split equally = $23,100 / 2 = $11,550 per side.
People Also Study
Related Idaho Questions
- 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
- 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
- A broker charges a 6% commission on a $425,000 sale. The listing agent receives 3% and the buyer's agent receives 3%. How much does the listing agent's brokerage receive?Real Estate Math
- A broker earns a 6% commission on a $390,000 sale. If the listing agent's office split is 60/40 (60% to the listing agent), how much does the listing agent receive?Real Estate Math
- In Idaho, which type of listing agreement is considered potentially unethical and is discouraged by the Idaho Real Estate Commission?Idaho License Law
- In Idaho, when a seller's agent receives an offer below the listing price, what is the agent's duty?Agency
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 →