How much was Farmer Wright’s total commission on the sold real estate?

The total commission for Farmer Wright on the sold real estate is determined by calculating the percentage of the sale price that goes to the auctioneer as commission. Typically, the commission is based on a percentage of the final selling price of the property.

In this case, if the correct answer indicates a total commission of $39,792.77, this amount would imply that it represents either a flat commission rate applied to the sale or involves specific calculations, such as deductions or fees that were taken into account during the sale process.

To arrive at this figure, it’s important to consider the context of the real estate transaction, including:

• The final sale price of the property.

• The agreed-upon commission rate between the seller and the auctioneer.

This total would likely include standard real estate commission structures which usually range between 5% to 7%, or any particular arrangement that was made for this specific transaction. The specificity of the final figure suggests that it factors in real-world variables, helping students recognize how commissions can differ based on agreements and calculations relevant to auction transactions in Mississippi. Understanding how these commissions work provides valuable insight into the role of auctioneers in real estate and their compensation structures.