Question

You have a contract to sell Ms. Smith's home for $160000.00. You work for the Golden Eagle Realty and your share of the office's commission is 50%. The Clarion Blue Real Estate Company has the listing and agrees to co-broker the sale with Golden Eagle Realty and split the 7.50% commission 50%/50%. How much is your commision check going to be? (Express your answer as xx.xx. Do not put a $ sign with your answer Your Answer

Answer 1

COMMISSION ON SALE = 7.5% OF 160000 = 12000

OUT OF THIS 50% COMMISSION WILL BE RECEIVED BY GOLDEN EAGLE = 6000 (50% OF 12000)

OUT OF THIS 6000, YOU WILL RECEIVE 50% AS COMMISSION = 3000 (50% OF 6000)

ANSWER : 3000 (THUMBS UP PLEASE)