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Assuming that the listing broker and selling broker split their commission from a transaction equally, what was the sales price of the property if the commission rate was 6.5% and the listing broker received $12,593.50?

A)$256,200
B)$193,746
C)$387,492
D)$139,900

Respuesta :

Answer:

C) $ 387,492

Explanation:

The sales price of the property is calculated as follows:

Amount of commission received by listing broker $ 12,593.50

Total commission rate 6.5 %

Commission rate of listing broker is divided equally so it is 6.5 %/ 2  = 3.25 %

The listing broker's commission rate at 3.25 % is $ 12,593.50

so the value of the property is $ 12,593.50/ 3.25*100 = $ 387,492

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