Definition - What does Broker mean?

A broker is a person or a business who acts as a third party to bring buyers and sellers together in various markets. Brokers can also do things such as negotiate contracts and plan sales. In the context of the law, brokers commonly have to get legal authorization from their clients in order to conduct sales, or otherwise work on their behalf.

Justipedia explains Broker

Brokers are commonly used in insurance, stocks, real estate and other fields of business. Many companies and individuals choose to use the services of brokers because they find using brokers to be simpler than doing everything themselves. For example, a person who is seeking property insurance may choose to do so using a property insurance broker. In this situation, the insurance broker can work with the client to find a policy that best fits his or her needs.

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