If the final sales price on a property is $532,000, with a commission rate of 5%, 13300 is the commission earned by the seller's broker if he splits the commission with the buyer's broker 50.
Commission rate is the payment associated with either a fixed payment or percentage of a sale. Professions that work on commission, such as insurance brokers, real estate agents and car salespeople, receive payments when they produce a sale.
This is a very simple percent-based calculation. Simply multiply the sale price by the commission rate and divide the result by 100. An illustration would be the price of a blue widget, which is $70. The salesperson is paid on commission; each deal nets him or her 14%, or $9.80.
Therefore, commission amount = selling price * commission percentage / 100 is the formula.
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