89. A property sells for $200,000 and the commission charged by Listing Company A is 6.5%. It was sold by Company X through the multiple listing service with an indicated cooperative fee of 2%. How much will the cooperating company receive?
Answer: B
The cooperating company will receive $4,000.
The commission on the property sale is calculated based on the total sale price. With a 6.5% commission on a $200,000 sale, the total commission amounts to $13,000. Since the cooperative fee indicated is 2%, the cooperating company will receive 2% of the sale price, which is $4,000.
A) $1,300
This option represents a value far below the correct calculation. With a total commission of $13,000 from the sale, $1,300 does not reflect any percentage of the selling price or the cooperative fee indicated in the scenario.
B) $4,000
This option is correct because it accurately represents 2% of the total sale price of $200,000. The calculation is straightforward: $200,000 multiplied by 0.02 equals $4,000, which is the amount the cooperating company will receive.
C) $9,000
This option is incorrect as $9,000 does not correspond to any percentage of the sale price or the cooperative fee. The total commission is $13,000, and there is no calculation that leads to $9,000 based on the stated percentages.
D) $13,000
This option refers to the total commission generated from the sale, not the amount received by the cooperating company. The cooperating company only receives the 2% cooperative fee, which is $4,000, not the entire commission.
Conclusion
The correct answer, $4,000, represents the appropriate amount that the cooperating company will receive based on the 2% cooperative fee applied to the property sale. All other options fail to accurately reflect the calculations derived from the commission structure presented in the question. Thus, $4,000 is definitive as it aligns with the financial terms of the transaction.