Question
What is the difference between a broker and an agent?
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1st Nov 2009 by Joseph Pousada
A broker is a person or organization who acts to bring a buyer and a seller together and does so for a fee (usually called a commission.) When an order is placed to buy or sell and the broker finds another buyer or seller to complete your transaction the order is said to be done on agency basis. A dealer is a person or organization that will buy and sell for their own account. When an order is placed to buy or sell and the dealer accepts the order for their own house account the trade is said to be a principal order.
Reference:
http://www.finra.org/Glossary/P010868
http://www.finra.org/Glossary/P011001
A broker is a person or organization who acts to bring a buyer and a seller together and does so for a fee (usually called a commission.) When an order is placed to buy or sell and the broker finds another buyer or seller to complete your transaction the order is said to be done on agency basis. A dealer is a person or organization that will buy and sell for their own account. When an order is placed to buy or sell and the dealer accepts the order for their own house account the trade is said to be a principal order.
Reference:
http://www.finra.org/Glossary/P010868
http://www.finra.org/Glossary/P011001
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26th Oct 2009 In Brokerage
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Subjects: broker,