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

110 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 derivative of f(x) = 5cos(3x) - 2sin(2x) + 4tan(x) - 3csc(x) + 2sec(4x) + ln(7x) - e^x - 2x^2?

What is the length of the side of a triangle if the angle opposite it measures 50 degrees, another side measures 10, and the opposite angle measures 40 degrees?

Find the equation of a hyperbola with a center at (2, -3), vertical transverse axis, and focal distance of 5. (

New questions in Mathematics

I want to divide R$ 2200.00 between Antônio, Beto and Cássia, so that Beto receives half from Antônio and Cássia receives a third of Beto. Under these conditions, how much more will Beto receive than Cássia?

5 . {2/5 + [ (8/-9) - (1/-7) + (-2/5) ] ÷ (2/-5)} . 8/15

If you have a bag with 18 white balls and 2 black balls. What is the probability of drawing a white ball? And extracting a black one?

-6n+5=-13

-6(3x-4)=-6

Equivalent expression of the sequence (3n-4)-(n-2)

Find all real numbers x that satisfy the equation \sqrt{x^2-2}=\sqrt{3-x}

sin 30

6-35 A recent study by an environmental watchdog determined that the amount of contaminants in Minnesota lakes (in parts per million) it has a normal distribution with a mean of 64 ppm and variance of 17.6. Assume that 35 lakes are randomly selected and sampled. Find the probability that the sample average of the amount of contaminants is a) Greater than 72 ppm. b) Between 64 and 72 ppm. c) Exactly 64 ppm. d) Greater than 94 ppm.

3/9*4/8=