Real Estate Math
A Virginia listing expires without a sale. During the listing period, the agent spent $2,500 on marketing. The property was listed at $800,000 with a 3% commission. If the property had sold, the listing agent's brokerage would have earned how much in gross commission?
A$24,000✓ Correct
B$12,000
C$16,000
D$8,000
Explanation
Gross commission = $800,000 × 3% = $24,000. Note: the $2,500 marketing cost is a sunk cost; the question asks about the brokerage's gross commission on a hypothetical sale.
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