Real Estate Math
A Virginia home sells for $750,000 with a 5.5% total commission. The buyer's broker receives 2.5%. What is the listing broker's commission?
A$18,750
B$22,500✓ Correct
C$22,375
D$41,250
Explanation
Total commission = $750,000 × 5.5% = $41,250. Buyer's broker = $750,000 × 2.5% = $18,750. Listing broker = $41,250 – $18,750 = $22,500. Wait, that gives $22,500 for listing broker.5% – 2.5% = 3.0% × $750,000 = $22,500.
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