Practice & ContractsQuestion 119 of 120
A brokerage charges a 5% commission on a $520,000 sale. The listing side keeps 40% and the selling side gets 60%. How much does the selling side receive?
a.$10,400
b.$13,000
c.$15,600
d.$26,000
Explanation
The total commission is 5 percent of $520,000, which is $26,000, and the selling side's 60 percent share equals $15,600. Commission splits are negotiated between the brokerages involved. The listing side would receive the remaining $10,400.
Practice all 120 questions free — no signup required.
Related questions on this topic
- An option contract in real estate gives the optionee the:
- When a seller responds to a buyer's offer by changing the price, the seller has made a:
- Escrow closes on the last day of a 30-day month. The seller has already paid the full month's $900 of homeowner association dues. Using a 30-day month, the buyer owes the seller for how many days?
- A house has a rectangular footprint of 40 feet by 50 feet. Its ground-floor area is:
- An owner sells a property for $360,000, which represents a 20% loss from what she originally paid. What did she originally pay?
- For an unfurnished residential rental in California, the security deposit a landlord may collect is limited by statute. A landlord may NOT:
Last reviewed: · editorial process
PrepPass Editorial Team · Verified against California DRE Real Estate Salesperson License Exam · How we review