Question

A broker's listing agreement specifies that a 5½% commission is to be paid on the sale price. The sales associate for the firm lists and sells the property and is to receive 55% of the total sale commission. How much will the sales associate earn if she sells the property for $369,000?

Answer 1

The amount that the sales associate earn if she sells the property for $369,000 is $11,162.25.

Sales associate's commission

First step  find the total commission

Total commission=$369,000 sale price × .055 rate

Total commission= $20,295

Second step find the sales associate's commission

Sales associate's commission=$20,295 total commission × .55 split

Sales associate's commission=$11,162.25

Inconclusion the amount that the sales associate earn if she sells the property for $369,000 is $11,162.25.

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