Quebec Real Estate Licensing Exam Practice · Question
A duplex in Sherbrooke is sold for $480,000. The brokerage contract stipulates a commission of 5% on the first $100,000 and 3% on the remainder. What is the total commission payable before taxes?
Calculations: (5% * $100,000) + (3% * ($480,000 - $100,000)) = $5,000 + (3% * $380,000) = $5,000 + $11,400 = $16,400. This is a basic commission calculation as
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Question: A duplex in Sherbrooke is sold for $480,000. The brokerage contract stipulates a commission of 5% on the first $100,000 and 3% on the remainder. What is the total commission payable before taxes?
Answer options: ✅ $17,400
- $14,400
- $19,000
- $16,800
Correct answer: $17,400
Explanation: Calculations: (5% * $100,000) + (3% * ($480,000 - $100,000)) = $5,000 + (3% * $380,000) = $5,000 + $11,400 = $16,400. This is a basic commission calculation as described in the Brokerage Contract - Sale.
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