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Brokerage
A firm that facilitates a transaction between a buyer and a seller for a commission or fee is called a brokerage. A real estate brokerage facilitates, or brokers, a real estate transaction by working with a buyer and seller to help determine the price of a piece of real property. Once the price is determined, the brokerage ensures that all legal documents are completed, necessary signatures are obtained and appropriate monies are collected. Commissions are paid when the transaction between the buyer and seller is concluded. Using a brokerage firm can save buyers and sellers time and valuable resources. A buyer doesn't want to look at 100 homes. They want to look at 10 homes that fit their needs; a brokerage firm can help with that. A seller doesn't want to go door to door trying to sell their home; a brokerage firm can help with that too.