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Sandy's Trap Real Estate specializes in properties for sale around a new golf community development on the coast. Sandy's receives 8 2 0 leads each
Sandy's Trap Real Estate specializes in properties for sale around a new golf community development on the coast. Sandy's receives leads each month from a golfing magazine ad that targets retirees. The leads are divided equally among the realtors who then followup with a phone call to determine the potential client's interest and ability to purchase. After the phone call, qualified prospects are offered a free round of golf if they will attend a sales presentation. A percentage of the people who agree to the sales presentation then decide to take one or more tours of homes available for sale in the golf community. On average, clients who reach this stage of the purchase process take tours.
Sandy, the owner, had calcualted that the average time for a salesperson to call a warm lead was minutes, the average sales presentation lasts minutes, each tour normally takes hours, and the closing the actual purchase averages hours. Sandy had also collected the following data for a year's worth of leads for the company, and his leading salesperson, Palma:
Salesperson LeadsSales Presentation Sales PresentationTour TourPurchase
Company
Palma
Finally, the average home price was $ and the total commission rate was set at of the sales price of the home which is split between the realtor and the company. Therefore, the salesperson receives and Sandy receives to cover overhead and expenses.
Based on the data provided, how many homes did Palma sell?
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