Real Estate Math
A Colorado property is sold for $525,000 with a 5.5% commission. The listing broker and buyer's broker split the commission 50/50. The listing associate receives 60% of their office's share. How much does the listing associate earn?
A$8,662.50✓ Correct
B$14,437.50
C$17,325.00
D$28,875.00
Explanation
Total commission = $525,000 × 5.5% = $28,875. Each office receives $28,875 ÷ 2 = $14,437.50. Listing associate receives $14,437.50 × 60% = $8,662.50.
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