The Importance Of Transaction Brokers

“A Transaction Brokerage provides third-party real estate services to buyers and sellers” (Magloff). As clearly stated by Magloff, Real Estate Transaction Brokers are hired to assist all parties during a transaction of either buying or selling property. Real Estate Agents alone can only help so much, but Transaction Brokers are designed to help on a more personal level. Transaction Brokers are fair and can help more than a Real Estate Agent alone. It is important to understand the roles of a Transaction Broker so they can be clearly distinguished from a Real Estate Agent. A buyer or seller may want to hire a Transaction Broker if he/she doesn’t clearly understand a contract, if they aren’t ready to turn to an actual agent, or if they would
Lowenthal couldn’t have said it better himself. Although Real Estate Agents are hired to be of assistance, it is important to remember they are still trying to make their living, and with that sometimes sloppy situations follow. Transaction Brokers do NOT work in this manner. They are hired to actually prevent a behavior as such. It is important when working with a Transaction Broker to instill trust in them, they are hired to be honest and helpful.
Real Estate Transaction Brokers make an average of $82,380 a year (Real Estate Transaction Broker: Job Description and Requirements). It’s important to look at average salaries when considering who you want to work with. Compare the Transaction Broker salary to the Real Estate Agent salary and see which occupation is the “bad guy”. Real Estate Agents can be notorious for taking clients’ money, but Transaction Brokers are not. Transaction Brokers have a fixed percentage that they take from sales and it is important to keep this is mind, when considering working with a Transaction
One of the major benefits from working with a Transaction Broker opposed to the traditional agent, is that clients are not held responsible for any legalities. When working with a traditional agent, clients are held accountable for most situations throughout the transaction, with a Transaction Broker, clients are not held accountable at any point. One other benefit of working with a Transaction Broker is working with lower rates, percentages, and prices. Considering Transaction Brokers have no fiduciary liabilities, they can offer people services at a much lower price. Transaction Brokers provide flexibility on all aspects that they