Sunday 16 June 2024

A Brief Insight To Brokerage and Its Types

The word ‘brokerage’ is a very common one and often heard, especially with regard to the real estate world. There are many ways to explain the meaning of the word. Some say it is a sort of commission given to the one who helps two parties to finalize on a deal in the process of buying and selling real estate.

More simply put, it could be said to be the fees of the broker taken from his client for the services he renders to his client. A broker is the person who is responsible for the business transaction, he can be both employed by a brokerage firm, or be self employed,i.e. work individually. Being a broker is not a cake walk, it requires education, intelligence and experience. Sandra Balan, an expert in brokerage and real estate from New York has all the three requirements, and so there is no doubt why she is so popular.

She has been in this job for several years and has won herself several accolades locally and well as with many foreign clients. She has a long list of foreign dignitaries in her clientele. He dedication and ability to live up to the demands of the clients have given her fame. Her advantage is that she is the inhabitant of New York for over two decades and so it is easy for her to know all the places well.

There are two basic types of brokerage firms : Full Service Brokerage and Discount Brokerage. A full service brokerage, as the name suggests, gives a wide range of products and services to its clients. Plans, market research, expert advice, consultation are among the services that are provided by these firms; while the loans, insurance, mortgage, etc. form the products of these firms. The client’s needs and requirements are fully understood according to which the products or services are presented before the client for selection.

On the other hand, Discount Brokerage, as is evident from its name, is a brokerage where the client gets some amount of discount from the broker. The discount or reduction in rate, as compared to a full service brokerage, is due to the computerized services that are given to the clients. This is a comparatively new concept in the field of brokerage, and a sort of brokerage where the broker does not necessarily have to be present in person for the sealing of any deal. The internet, fax or phone has become the most handy thing for brokers of this sort.

The advantage of discount brokerage is that it is a lot faster, added to this is the fact of reduced costs. Because this kind of brokerage is mostly done through the internet, the brokers are known by the name of ‘online brokers’. But what you have to watch for is how genuine your broker is.

For this reason you should always get in touch with well known established brokers and specialist in brokerage such as Sandra Balan. She also has knowledge and skills in real estate, strategic planning, buying and selling of property, about condos, and many other similar things.