Broker

Business, Legal & Accounting Glossary

Definition: Broker


Quick Summary of Broker


A broker is someone who has a license to transact stocks, bonds, commodities, or real estate.




What is the dictionary definition of Broker?

Dictionary Definition


n. in general, a person who arranges contracts between a buyer and seller for a commission (a percentage of the sales price).

These include real estate brokers (who have responsibility over an agency and its sales agents as well as their own conduct), insurance brokers (handling more than one company rather than being an agent for just a single carrier), and stockbrokers, who are the upper-level of stock salespersons and/or the operators of brokerage houses. Brokers in the more technical fields (as above) are regulated and licensed by each state and have a “fiduciary” duty to act in the best interests of the customer. Consumers should investigate whether the broker is representing the customer’s best interest or just wants to make a sale. A “pawnbroker” is a lender for items left for security (“hocked”) at high rates.


Full Definition of Broker


A brokerage is a firm that hires brokers. A retail brokerage provides services to individuals, Some brokers specialize in providing service to institutional investors. Some brokers own a seat on the New York Stock Exchange.


Related Phrases


Bond
Brokerage account
Commodities
Discount broker
Full-service broker
Mortgage broker
Real estate
Seat on the New York Stock Exchange
Stock
Stock broker


Cite Term


To help you cite our definitions in your bibliography, here is the proper citation layout for the three major formatting styles, with all of the relevant information filled in.

Page URL
https://payrollheaven.com/define/broker/
Modern Language Association (MLA):
Broker. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. October 21, 2021 https://payrollheaven.com/define/broker/.
Chicago Manual of Style (CMS):
Broker. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. https://payrollheaven.com/define/broker/ (accessed: October 21, 2021).
American Psychological Association (APA):
Broker. PayrollHeaven.com. Retrieved October 21, 2021, from PayrollHeaven.com website: https://payrollheaven.com/define/broker/

Definition Sources


Definitions for Broker are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 6th August, 2021 | 4 Views.