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1 year ago

7

At a real estate agency, an agent sold a house for $307,000. The commission rate is 5.5% for the real estate agency and the c

ommission rate for the agent is 25% of the amount the real estate agency gets. How much did the agency make on the house? How much did the agent earn in commission?

1 answer:

Vanyuwa [196]1 year ago

7 0

The commission that thereal estate agency gets is $16885.

The commission that the agent gets is $76750

<h3>How to calculate the commission?</h3>

The selling price for a house = $ 307,000

The commission rate for real estate agency = 5.5 %

The commission rate for the agent = 25 %

So, the commission which real estate agency gets:

= 5.5 % of $307,000

= 0.055 × $ 307,000

= $16885

The commission which agent get:

= 25% of $ 382,000

= 0.25 × $ 307,000

= $76750

Learn more about real estate on;

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