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
Answer:
Total commission that Lamar got is:6.5/100Γ785,000
=$51,025
Amount that Lamar split with his broker:
40/100Γ51025
=$20410
Amount that brokerage split
=50/100Γ20410
$10205
Total amount Lamar received $10205
solved
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11 months ago
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