Real Estate Math
A property sells for $550,000 with a 7% commission split 50/50 between listing and selling brokers. Each broker receives:
A$17,500
B$19,250✓ Correct
C$21,000
D$38,500
Explanation
Total commission = $550,000 × 0.07 = $38,500. Each broker receives $38,500 ÷ 2 = $19,250. To solve this, multiply the relevant values: $550,000 at 7%.. The correct answer is $19,250.. This is a common calculation on the New Jersey real estate exam.
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