When calculating the commission for a property sale, what percentage does the broker keep if they pay 5% to the MLS and 65% to the sales associate?

In this scenario, the total commission on the property sale is distributed between the various parties involved. The broker initially receives the entire commission amount.

First, let's break down the percentages. The broker pays 5% to the MLS, which leaves 95% of the commission for the broker and the sales associate. The sales associate is then paid 65% of that remaining amount. To determine what percentage the broker retains, we calculate it step by step.

After paying the MLS their share, the broker is left with 95% of the total commission. Of that remaining 95%, the sales associate receives 65%, which is calculated as:

65% of 95% = 0.65 * 95% = 61.75%

To find out how much the broker retains, we subtract the amount paid to the sales associate from the 95%. Thus, the broker's share will be:

95% - 61.75% = 33.25%.

Since we want to express it in relation to the total commission, we can note that the broker effectively keeps a total of 33.25% out of 100%. Therefore, when viewed as a simpler fraction, this indicates that the broker retains approximately 35%.