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Assume that the listing and selling brokers split the commission evenly. What is the sales price of a house if the listing broker received $2,593.50 and the total rate is 6%?

User Hanfei Sun
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Final answer:

The sales price of the house is $86,450, calculated by doubling the broker's commission received to account for both brokers and dividing by the 6% commission rate.

Step-by-step explanation:

To determine the sales price of a house from the commission received by the listing broker, we first acknowledge the broker got $2,593.50.

Since the listing and selling brokers split the commission evenly, the total commission is twice the amount received by one broker, which is $2,593.50 x 2 = $5,187.

The commission rate is 6%, which represents the commission taken from the sales price.

Therefore, if 6% equals $5,187, we can find the sales price by dividing the total commission by the percentage rate, expressed as a decimal. To calculate:

Sales Price = Total Commission / Commission Rate = $5,187 / 0.06 = $86,450

Therefore, the sales price of the house is $86,450.

User Utsabiem
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