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Christopher has hired a real estate broker to help facilitate the sale of his home. Realizing that Christopher is most likely going to realize a
Christopher has hired a real estate broker to help facilitate the sale of his home. Realizing that Christopher is most likely going to realize a loss on his investment due to the recent decline in housing values in his neighborhood, the broker has agreed to charge Christopher a lower commission rate as long as Christopher enters into an exclusive right of sale listing contract. If Christopher ends up selling his house for $323,898 and takes home $287,732 after paying the real estate broker's commission, what was the commission percentage rate that the broker ended up charging? Note: If the answer was 5,2%. It would need to be entered as: 0.052
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