A property sold for $745,000 in a co-brokered transaction. The seller has agreed to pay a 7% commission to the listing firm. The listing firm has agreed to equally split the commission with the selling firm. If the buyer’s broker will receive 8% of the selling firm’s commission, how much commission will the buyer’s broker receive? $14,900 $3725 $$37250 $18625

Name: Solved: A property sold for $745,000 in a co-brokered transaction. The seller has agreed to pay a 7% commission to the listing firm. The listing firm has agreed to equally split the commission with the selling firm. If the buyer’s broker will receive 8% of the selling firm’s commission, how much commission will the buyer’s broker receive? $14,900 $3725 $$37250 $18625 - MathMaster
Brand: MathMaster
Rating: 4.9 (71 reviews)

likes

353 views

Answer to a math question A property sold for $745,000 in a co-brokered transaction. The seller has agreed to pay a 7% commission to the listing firm. The listing firm has agreed to equally split the commission with the selling firm. If the buyer’s broker will receive 8% of the selling firm’s commission, how much commission will the buyer’s broker receive? $14,900 $3725 $$37250 $18625

$Expert avatar$

Velda

4.5

109 Answers

First, let's calculate the total commission paid to the listing firm. The commission is calculated as a percentage of the selling price of the property.

Commission paid to the listing firm = 7% of $745,000

Commission paid to the listing firm = (7/100) x $745,000

Commission paid to the listing firm = $52,150

Since the listing firm agreed to equally split the commission with the selling firm, each firm will receive half of the commission.

Commission received by each firm = ($52,150) / 2

Commission received by each firm = $26,075

Now, let's calculate the commission received by the buyer's broker, which is 8% of the selling firm's commission.

Commission received by the buyer's broker = 8% of $26,075

Commission received by the buyer's broker = (8/100) x $26,075

Commission received by the buyer's broker = $2,086

Answer: The buyer's broker will receive $2,086 in commission.

Frequently asked questions (FAQs)

What is the median of the following set of numbers: 3, 5, 7, 9, 11, 13, 15?

What is the sine value of an angle in standard position if its reference angle is 45 degrees?

Question: Given that ABC is a triangle and AD is an angle bisector of angle BAC, if angle B = 60° and angle DAB = 40°, find angle CAD.

New questions in Mathematics

Simplify the expression sin³(x)+cos³(x), using trigonometric functions

reduction method 2x-y=13 x+y=-1

Investing equal amounts of money into each of five business ventures Let's say you plan. 20 to choose from If there are initiatives, how many different ones among 20 initiatives? five startups can be selected?

Determine the momentum of a 20 kg body traveling at 20 m/s.

By direct proof, how can you prove that “The sum of any three consecutive even integers is always a multiple of 6”.

Let r: x - y 5 = 0. Determine a general equation of the line s parallel to the line r, which forms an isosceles triangle with area 8 with the line x = 5 and the Ox axis.

In the telephone exchange of a certain university, calls come in at a rate of 5 every 2 minutes. Assuming a Poisson distribution, the average number of calls per second is: a) 1/8 b) 1/12 c) 1/10 d) 2/5 e) 1/24