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Definition: Broker

A broker is any entity (an individual or a corporation) which acts on behalf of someone else. Broker is thus an agent between any two parties (say sellerand buyer) helping to complete the transaction between the two.

Broker charges a fee for acting as an agent for its party.

A broker is usually appointed by someone because of his expertise in thatarea or because the hiring party does not has the time to indulge in the nitty-gritty of the required transactions.

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