Lamar sells another broker's $800,000 listing for $785,000 at a commission rate of 6.5%. Lamar has a 40% commission split with his broker. If there is also a 50% brokerage split, what commission will Lamar receive?

Question

Georgia Randall

Mathematics

11 April, 14:56

Lamar sells another broker's $800,000 listing for $785,000 at a commission rate of 6.5%. Lamar has a 40% commission split with his broker. If there is also a 50% brokerage split, what commission will Lamar receive?

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Answers (1)

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Dante Bird · Answer 1

Total commission that Lamar got is:

6.5/100*785,000

=$51,025

Amount that Lamar split with his broker:

40/100*51025

=$20410

Amount that brokerage split

=50/100*20410

$10205

Total amount Lamar received $10205