A real estate broker is in the business of brokering real estate transactions; this is, finding sellers for those who want to buy real estate and finding buyers for those trying to sell real estate. Real estate brokers and their salespersons assist sellers in marketing their property and selling it for the highest possible price under the best terms and assist buyers by helping them purchase property for the best possible price under the best terms. The broker makes money on commission, generally 5 to 7% of the final selling price of the property. Flat fees are also an option, but not a popular one in most places. Working on commission usually means higher property prices, as the real estate broker will try to get the most for his or her work.
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