Assuming that the listing broker and selling broker split their commission from a transaction equally, what was the sales price of the property if the commission rate was 6.5% and the listing broker received $12,593.50?

A) $256,200

B) $193,746

C) $387,492

D) $139,900

Question

Maddison Santiago

Business

24 February, 07:09

Assuming that the listing broker and selling broker split their commission from a transaction equally, what was the sales price of the property if the commission rate was 6.5% and the listing broker received $12,593.50?

A) $256,200

B) $193,746

C) $387,492

D) $139,900

+2

Answers (1)

Know the Answer?

Yesenia Rodriguez · Answer 1

C) $ 387,492

Explanation:

The sales price of the property is calculated as follows:

Amount of commission received by listing broker $ 12,593.50

Total commission rate 6.5 %

Commission rate of listing broker is divided equally so it is 6.5 % / 2 = 3.25 %

The listing broker's commission rate at 3.25 % is $ 12,593.50

so the value of the property is $ 12,593.50 / 3.25*100 = $ 387,492

Assuming that the listing broker and selling broker split their commission from a transaction equally, what was the sales price of the property if the commission rate was 6.5% and the listing broker received $12,593.50?A) $256,200B) $193,746C) $387,492D) $139,900

Assuming that the listing broker and selling broker split their commission from a transaction equally, what was the sales price of the property if the commission rate was 6.5% and the listing broker received $12,593.50?

A) $256,200

B) $193,746

C) $387,492

D) $139,900