DJM Real Estate - Woodbury, NY - Phone: (212) 218-6800
A broker working with a brokerage firm or an agency in Woodbury, is someone who acts on behalf of his clients, as intermediaries. He conducts trading and negotiations on behalf of the buyer and seller; some agents who act for both the buyer and the seller are known as dual agency, which is regulated and limited by a number of state laws that can vary. Functions of business brokers include estimating the value of the business; advertising it for sale with or without disclosing its identity; handling the initial potential buyer interviews, discussions, and negotiations with prospective buyers; facilitating the progress of the due diligence investigation and generally assisting with the business sale. If the object of transactions is real estate, then he/she is known as a real estate broker. It is easier to complete transactions via a broker, because he ensures confidentiality, he knows the market system, can perform appraisals, advertise the business, negotiate a favourable contract or sale, and generally make the process of buying and selling easier. A broker is usually remunerated by any of these ways: hourly, retainer, and success fee (commission upon a closing). As a thumb rule, smaller transactions have a higher rate of compensation.