Broker

Business, Legal & Accounting Glossary

Definition: Broker



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.


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. November 27, 2020 https://payrollheaven.com/define/broker/.
Chicago Manual of Style (CMS):
Broker. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. https://payrollheaven.com/define/broker/ (accessed: November 27, 2020).
American Psychological Association (APA):
Broker. PayrollHeaven.com. Retrieved November 27, 2020, 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: 26th April, 2020 | 2 Views.