Question

A broker listed a house at $300,000 and sold the home at 95% of the asking price. The listing broker paid out 45% of the total 6% fee to the selling broker, who paid the selling associate 60% of the amount that came to the office. How much did the selling associate get paid?

Answer 1

95% of list price = $300,000 x .95 = $285,000. $285,000 X .06 = $17,100 X .45 = $7,695 X .60 = $4617. It is common for two brokers to share: one lists the property working with the seller and another broker sells the property working with the buyer; each broker splits the amount of fee to the office with the associate who worked the transaction.