A property sells for $275,000 with a 6% commission rate. What is the total commission earned?
Correct Answer
B) $16,500
Total commission is calculated by multiplying the sale price by the commission rate: $275,000 × 0.06 = $16,500. Commission rates in Oklahoma are negotiable and are not set by law; the rate is agreed upon in the listing agreement between the broker and the seller.
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Related Topics & Key Terms
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