Real Estate Math
A New Mexico property sold for $395,000. Using a 6% commission split 50/50 between listing and selling brokerages, and each brokerage pays the associated agent 55% of their share, how much does the listing agent earn?
A$6,517.50✓ Correct
B$7,821.00
C$7,900.00
D$11,850.00
Explanation
Total commission = $395,000 × 0.06 = $23,700. Listing brokerage share = $23,700 / 2 = $11,850. Listing agent = $11,850 × 0.55 = $6,517.50.
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