Question

A sales associate, while working for the broker, acquired a listing for $350,000 at a 6% commission rate. A second sales associate, who works for another brokerage office, found the buyer for the property. The listing and selling brokers agree to a 50-50 split between the two offices. The property sold for the listed price. The selling broker kept 55% of the commission received by the selling office. How much did the selling office sales associate receive?

Answer 1

Answer:

$ 4, 725

Explanation:

Each broker get 50% of (6/100 x$350,000)

i.e. =50% (0.06 x $350,000)

    = $ 21,000/2

    =$10,500

   Broker kept 55% meaning the office got 45 %

      = 45/100 x $ 10,500

      = $ 4, 725