How do I calculate commission when the problem gives a sale price and rate?
Staff Q&A from the 63Hours team.
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Multiply the stated sale price by the stated rate as a decimal. A hypothetical $360,000 sale at a stated 4% rate produces $14,400. That is the total at that step, not automatically the individual associate's income. Commissions are negotiable; a practice problem's rate does not establish a standard rate in the market.
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Discussion prompt: Does the problem ask for total commission or one person's share?