What is a broker?
Q: What is a broker?
A: A broker is a middleman who facilitates transactions between two or more parties by either negotiating for them, bringing them together to negotiate, or both.
Q: What is the role of a broker in a transaction?
A: The role of a broker is to help arrange a transaction between two parties, acting as a mediator between them to ensure that the agreement is beneficial to both parties.
Q: Does a broker always receive compensation for their services?
A: A broker sometimes receives a commission when the transaction is completed.
Q: What happens when a broker becomes a buyer or seller in a transaction?
A: When a broker becomes a buyer or seller in a transaction, they become a principal party to the deal.
Q: How does a broker differ from an agent?
A: A broker differs from an agent in that a broker is a middleman who brings others together to negotiate or bargains for them. An agent, on the other hand, acts on behalf of a principal.
Q: Can a broker be an agent as well?
A: Yes, a broker can also act as an agent, but the two roles are distinct from one another.
Q: Who benefits from the services of a broker?
A: Both parties involved in a transaction can benefit from the services of a broker, as the broker's role is to facilitate a mutually beneficial agreement.
