A broker is a person or collective firm that performs buy & sell service against a fee or commission for it for an investor.
Description of Broker
A broker can be an individual or a firm, acting as an agent third party for the customer & offer service for commission fee or simply a licensed real estate key professional, working on the behalf of the seller of that property.
Duties Of A Broker
• finding current market values
• performing active property advertisements from time to time to attrct potential buyers
• taking the buyers to show that property
• providing consultation to clients regarding market offers & related issues
Discount vs. Full Service Brokers
Broadly classifying, there are two types of brokers: Discount brokers & full-service broker.
Discount brokers can perform any type of trade for client on his behalf & charge a commission fee in turn. Usually their fee structure is low comparatively & is based upon volume & costs. They work on a limited pattern & don’t offer any consolation or advisory services for clients & are paid via fixed salary terms.
On the contrary , the full-service brokers delivers full line of services like, conducting market research , investment consultation, retirement plans & potential products for clients for which they charge a lump sum fee which is usually higher. They are paid against the volume they bring for trade & the number of products sold.