| Brokers are professionals who play an important role | | | | This is generally split 50/50 between the listing agent |
| in mediating between a lender and a borrower. | | | | and the selling agent. |
| Brokers collect personal information about the client | | | | Forex broker: forex brokers are firms or individuals, |
| for the lender including employment and medical | | | | who assist individuals or firms to trade in the foreign |
| history. They also provide the clients' financial and | | | | exchange market. Forex brokers make money from |
| credit information to the lender. | | | | pip or "spread." A spread is the minimum price |
| There are many different types of brokers. Below | | | | increase in currency. For instance, in Euro/US Dollar, a |
| are the more sought-after brokers: | | | | shift from 0.9007 to 0.9008 is one spread. In US |
| Mortgage broker: mortgage brokers guide customers | | | | Dollar/Japanese Yen, a shift from 127.40 to 127.41 is |
| through the process of selecting a suitable mortgage | | | | one spread. |
| package with competitive package offers. They also | | | | Stockbroker: a stockbroker is a person or company |
| offer financial advice on mortgage and property. | | | | who buys and sells stocks on behalf of another |
| Their job is to find a mortgage package that meets | | | | person or company, and tries to match up buyers |
| the borrower's needs, and to help the client process | | | | and sellers. Many people seek the advice of and pay |
| and complete their mortgage application form. In the | | | | for the services of a stockbroker to help them in |
| United States, mortgage brokers negotiate over | | | | making informed decisions about their finances with |
| 80% of home loans issued. Banks go through brokers | | | | the knowledgeable and interactive guidance of a |
| to effectively outsource the job of finding and | | | | licensed stockbroker. |
| qualifying borrowers. | | | | Insurance broker: insurance brokers source contracts |
| Real estate broker: real estate brokers finds buyers | | | | of insurance on behalf of their customers. An |
| for those wanting to sell real estate and finds sellers | | | | insurance broker will help you to choose the best to |
| for those wanting to buy real estate. Real estate | | | | fit your needs. |
| brokers help sellers market their property and sell it | | | | An investor looking for an investment avenue will |
| for the highest possible price; they also help buyers | | | | benefit greatly from using a broker, as brokers tend |
| purchase property for the best possible price. Once | | | | to be more up-to-date with trends and happenings in |
| the broker successfully finds a buyer, the real estate | | | | the market. Also as per law the broker has a |
| broker receives a commission for his or her service. | | | | fiduciary duty to advise the customer in the |
| In the U.S. a 6% commission is usually the case for | | | | customer's best interest. |
| residential real estate and is usually paid by the seller. | | | | |