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8 June, 16:36

A property was sold for $750,000. The total commission for the transaction was 6%. The listing broker and buyer's broker agreed to split the commission 50/50. If the buyer's broker's real estate agent was responsible for the sale of the property and receives a 40/60 with his broker, how much commission is paid to the real estate agent ... ?

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  1. 8 June, 16:45
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    The real estate agent's commission is $9,000

    Explanation:

    Selling price = $750,000

    6% commission = $45,000

    Listing broker's share from the commission (50/50) = $22,500

    Buyers broker's share from the commission (50/50) = $22, 500.

    Real Estate agent's share from the buyers broker's commission is 40% of $22,500.

    So we need to find the real agent's share.

    (40/100) * 22,500

    2/5 * 22,500

    = $9,000.

    Therefore, the real estate agent's share is $9,000.
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