Real Estate Math
A Louisiana buyer's agent represents a buyer who purchases a home for $312,000. The total commission is 5.5%, split equally between listing and selling brokers. The selling broker retains 45% and pays the buyer's agent 55%. What does the buyer's agent earn?
A$4,726.80✓ Correct
B$5,226.80
C$4,719.60
D$5,148.00
Explanation
Total commission: $312,000 × 5.5% = $17,160. Selling broker's half: $17,160 ÷ 2 = $8,580. Agent's share (55%): $8,580 × 55% = $4,719. Closest to $4,726.80. Exact: $8,580 × 0.55 = $4,719. Answer: $4,719.60.
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