Real Estate Math
If a Minnesota property sold for $310,000 and the commission rate was 5.5%, how much commission was paid to the listing side if it receives 60% of the total commission?
A$10,230✓ Correct
B$17,050
C$8,525
D$11,160
Explanation
Total commission = $310,000 x 5.5% = $17,050. Listing side commission = $17,050 x 60% = $10,230. The remaining 40% ($6,820) goes to the buyer's side. Commission splits between listing and buyer's side vary but are often 50-60% to the listing side in Minnesota transactions.
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