Real Estate Math
An Indiana property sold for $375,000 with a 5.5% total commission. The listing broker and selling broker split it 50/50. Each cooperating agent receives 60% of their broker's split. How much does each agent earn?
A$5,512.50
B$6,187.50✓ Correct
C$10,312.50
D$11,025
Explanation
Total commission = $375,000 × 0.055 = $20,625. Each broker's split = $20,625 ÷ 2 = $10,312.50. Each agent's share = $10,312.50 × 0.60 = $6,187.50.
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