Real Estate Math
A Florida broker's office closed 36 transactions last year at an average sales price of $290,000 with a 5.5% commission split 50/50 between listing and buyer side. The office's total commission income was:
A$287,100
B$574,200✓ Correct
C$143,550
D$432,000
Explanation
Total commission = 36 × $290,000 × 5.5% = 36 × $15,950 = $574,200. (The office's total if they represent both sides; if split 50/50 per transaction across two brokerages, each side is $287,100.)
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