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GLOSSARY

Canadian Financial, Real Estate and Mortgage Glossary

How often this word is used
 
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50% - Moderately

Broker


Synonyms:advisor, agent, assistant, go-between, helper, negotiator, representative, seeker, servant, specialist
Acronyms &
abbreviations:
Bkr
Filed Under: abbreviation, financial-banking, insurance, legal-contracts, mortgages, real-estate
Tags: banking, broker, classifieds, contract, insurance, legal, mortgage, property listing, realty
 

Definition of broker (Bkr)

broker (Bkr)
1. A person or firm who acts on behalf of another. For example, a mortgage broker works on behalf of a client to find the best mortgage rate possible for the client.

Related Terms and Acronyms:

  • Accredited Mortgage Professional (AMP)   The Accredited Mortgage Professional (AMP) is the only national proficiency standard created by CAAMP for Canada's mortgage industry.
      ➥  Accreditation offered by Canadian Association of Accredited Mortgage Professionals (CAAMP).
  • agent (agt)   A person who acts on behalf of another. In real estate, an agent is a person who conducts transactions on behalf of sellers and sometimes buyers.
  • broker-agent   An individual, usually in the employ of an insurance company, that is licensed as both an insurance broker and agent.
  • finder fee   A fee paid by a party to another for services rendered.
  • flat fee   A fixed charge that a broker requests instead of a commission.
  • Mortgage Broker (MB)   One who finds clients perspective lenders at generally no cost. Mortgage Brokers have a special relationship with lenders and can offer their clients the best rates and service. CanEquity goes through great lengths to ensure you are serviced by the best Mortgage Brokers in Canada.
  • mortgage brokerage   An individual or group who brokers deals between their clients and lenders.
      ➥  CanEquity is a mortgage brokerage.
  • real estate agent   A person who is licensed to represent a buyer or seller of land and the buildings and other improvements on it.
  • real estate broker   An individual who is licensed to represent a buyer or a seller of real estate and collects commissions for the work. Most brokers have agents working for them and they collect a portion of those commissions in exchange for providing office space, marketing, and other overhead.
  • realtor   A real estate broker or an associate holding active membership in a real estate board.

More Related Terms and Acronyms

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