Practice & ContractsQuestion 105 of 120
A home sells for $500,000 at a 6% total commission. If the listing and selling brokers split it equally, each brokerage receives:
a.$15,000
b.$18,000
c.$30,000
d.$7,500
Explanation
The total commission is 6 percent of $500,000, which is $30,000, and an equal split gives each brokerage $15,000. Commission is calculated on the final sale price. The split between listing and selling sides is set by agreement.
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