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You are a real estate salesperson working for Good Earth Realtors, Inc. You receive 5 0 percent of all commissions received by the firm (
You are a real estate salesperson working for Good Earth Realtors, Inc. You receive percent of all commissions received by the firm
net of MLS fees for which you were either the listing agent or the selling agent. The firm receives percent of commissions for sales
of properties it lists and percent of commissions for sales of properties it sells in cooperation with other firms. Fifteen percent of all
commissions for properties sold through the multiple listing service must be paid to the MLS If you are both the listing and selling
agent in a transaction, you receive percent of the firm's proceeds. If you are either the listing agent or the selling agent for a
transaction in which another member of Good Earth is the selling agent or the listing agent, your split remains the same as when
another firm cooperates in the transaction. Recently, you were the selling agent for a property that was sold for $ Another
salesperson associated with Good Earth had listed the property two months previously for $ The property was in the MLS
and the commission rate was percent.
Required:
a How much in total commission, net of the MLS fee, will your firm receive?
b What will be your split of the commission?
Note: For all requirements, round your answers to decimal places. Do not round intermediate calculations.
Answer is complete but not entirely correct.
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