Question

rick, a sales associate, represented both the buyer and seller on a transaction that closed yesterday. the listing agreement offered a total commission of 5.5%. the property sold for $341,000.00. rick has a commission split of 90/10 with his broker. how much commission will rick be paid for the transaction

Answer 1

Based on the commission on the property that Rick sold and the commission split, the amount that Rick is paid for the transaction will be $16,879.50

How much is the commission?

The commission on the transaction is:

= Property selling price x total commission percentage

= 341,000 x 5.5%

= $18,755

Rick is to get 90% of this as he split it 90/10 so Rick's commission would be:

= Total commission amount x Rick's share

= 18,755 x 90%

= $16,879.50

In conclusion, out of there entire sales price of the property, Rick will get a commission of $16,879.50

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