Areal estate salesperson finds a buyer to a for sale by owner property. the home sells for $245,000, and the seller agrees to pay a commission of 3%. the salesperson is on a 65% commission schedule with her broker, who pays her 65% minus office expenses of $500. how much will the salesperson receive from this transaction?

$4,277.5

Explanation:

Given:

Selling cost of the house = $245,000

Percentage of commission = 3%

Amount of commission = 0.03 × $245,000 = $7,350

Now,

The salesperson is on a 65% commission schedule with her broker

This means that the salesperson will get only 65% of the amount of commission

thus,

Commission to paid = 0.65 × $7,350 = $4,777.5

The final amount received = Commission - office expenses

or

The final amount received = $4,777.5 - $500 = $4,277.5

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