Question
Please show work on how to solve the problem: A broker lists a motel for $1,450,000. The listing contract specifies a 6.5% sale commission for
Please show work on how to solve the problem: A broker lists a motel for $1,450,000. The listing contract specifies a 6.5% sale commission for the first $600,000 of selling price, 7% for the next $800,000 and 8% commission on all of the actual sale price exceeding $1.4 million. The broker has agreed to a 45-55 split if the property is sold by one of the broker sales associates. The property is sold "in house." The brokers pays the sales associate involved in the transaction 55% of the total commission. What is the sales associates commission if the associate sells the motel for that listed price?
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