Question 1

A property sells for $285,000. The total commission rate is 6%, and the listing broker splits it 50/50 with the selling broker. The selling broker then pays their salesperson 60% of their share. How much does the salesperson earn?

Accepted Answer

$5,130. Total commission = $285,000 × 6% = $17,100. Each broker's share = $8,550. Salesperson's share = $8,550 × 60% = $5,130.

Question 2

A seller wants to net $210,000 after paying a 7% commission. What must the property sell for?

Accepted Answer

$225,806 (rounded). Use the formula: Net ÷ (1 – commission rate) = $210,000 ÷ 0.93 ≈ $225,806.

Question 3

A salesperson earned $9,450 on a transaction where her commission rate was 3% of the sale price. What was the sale price of the property?

Accepted Answer

$315,000. Use Part ÷ Rate = Total: $9,450 ÷ 0.03 = $315,000.

Question 4

A listing agreement calls for a 5.5% commission on the first $200,000 and 3% on any amount above that. If the property sells for $350,000, what is the total commission?

Accepted Answer

$15,500. Commission on first $200,000 = $11,000; commission on remaining $150,000 = $4,500; total = $15,500.

Question 5

A broker receives a 6% commission on a sale and pays her salesperson 45% of that commission. The salesperson receives $7,290. What was the sale price of the property?

Accepted Answer

$270,000. Salesperson share = broker commission × 45%; $7,290 ÷ 0.45 = $16,200 (broker commission); $16,200 ÷ 0.06 = $270,000.

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