Question

don a sales associate for abc realty is on a 50/50 commission split with his broker. don was the listing agent for a property and earned $2,500 for the transaction. if the commission rate was 5% and abc realty earned one half of the commission, what was the sales price of the property?

Answer 1

The sales price of the property, given the commission rate, and the amount earned by Don for ABC Realty, is $ 100, 000

How to find the sales price of the property?

First, you need to find the commission earned in total on the sale of the property. ABC Realty represented by Don will get one half of the commission which means that the $2, 500 that Don got was half of the commission.

The full commission is therefore:

= 2, 500 x 2

= $5, 000

This commission of $5, 000 is said to be 5 % of the value of the property that Don sold for ABC Realty and split with his broker.

The sales price of the property can therefore be found as:

= Full commission / Commission percentage

= 5, 000 / 5 %

= 5, 000 / 0. 05

= $ 100, 000

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