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