A cooperating broker in Jacksonville will be paid one-half of a 5.00% commission on a sale price of $415,000. How much is that brokerage side of the commission?
Correct Answer
C) $10,375
Half of the total commission is $415,000 × 5.00% × 50% = $10,375.
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Previous Question
During a compensation audit in Tampa, a sales associate is entitled to 60% of the brokerage's side of the commission. The property sold for $360,000, the total commission was 6.00%, and the brokerage earned 50% of the total commission. What is the associate's share?
Next Question
Broker Sarah lists a property for $400,000 with a 6% commission. Another broker brings a buyer, and the listing agreement states the commission will be split equally between listing and selling brokers. After closing, the seller asks Sarah to reduce her portion of the commission by $2,000 due to unexpected repairs. What should Sarah do?