Real Estate Math
A Maine broker earns a 5.5% commission on a $380,000 sale. The cooperating broker splits 50/50. How much does each broker receive?
A$10,450✓ Correct
B$20,900
C$19,000
D$9,500
Explanation
Total commission = $380,000 x 5.5% = $20,900.
Related Maine Real Estate Math Questions
- A Maine property valued at $550,000 is purchased with a 15% down payment. The mortgage amount is:
- A Maine seller received $387,500 after paying a 5% commission. The sale price was approximately:
- A Maine property listed at $450,000 sells for 96% of the listing price. What is the sale price?
- A Maine property has an assessed value of $240,000 and a mill rate of 15 mills. What is the annual property tax?
- A Maine buyer makes an offer 8% below the list price of $375,000. The offer price is:
- A Maine property sold for $265,000. The buyer paid 10% down and financed the remainder. What was the loan-to-value ratio?
- A property sold for $295,000. The listing broker and selling broker split a 6% commission equally. Each broker then pays their agent 55% of their share. How much does each agent earn?
- A rectangular Maine lot is 120 feet wide and 200 feet deep. What is the lot area in square feet?
Practice More Maine Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Maine Quiz →