Broker
BROH-ker
/ˈbroʊkər/
A person who buys and sells goods or assets for others.
In real estate, a broker is a licensed professional who acts as an intermediary between buyers and sellers of property, facilitating transactions. They typically have more advanced licensing than a 'real estate agent'.
The story behind the word. The origin of 'broker' is quite surprising! It comes from the Old French 'broceor', which originally meant 'one who broaches (taps) wine casks'. A 'broceor' would deal in wine, acting as a middleman between the producer and the buyer. Over time, the meaning broadened from dealing in wine to dealing in other goods, and eventually to facilitating any kind of transaction between parties, leading to our modern 'broker' in real estate and finance.
Word relationships
- Agent: Often used interchangeably, but a 'broker' typically has a higher level of licensing and can operate independently or manage other agents.
- Intermediary: General term for someone who acts as a go-between.
Commonly confused with
- Real estate agent: An 'agent' works under a 'broker'; a 'broker' can work independently and supervise agents.
Word family
- brokerage (noun): The business of a broker; a broker's fee or commission.
- to broker (verb): To arrange or negotiate a deal.
Collocations
- real estate broker
- stock broker
- insurance broker
- mortgage broker
- licensed broker
Example sentences
- "We hired an experienced real estate broker to help us navigate the complex process of selling our home." Choosing the right broker is important for a smooth transaction.
- "The broker earned a substantial commission after successfully negotiating the sale of the commercial property." Brokers earn commissions.
Memory hook
A BROKER helps you BREAK into the market by connecting buyers and sellers. Break the deal
When not to use
Do not use 'broker' for someone who simply gives advice; they must be actively facilitating transactions.
Fun facts
- The term 'broker' is used across many industries, from real estate and finance to insurance and even commodities.
Explore more words
negotiate, mediate, barter, negotiation, transaction, vendor
Take your vocabulary further with LangBlitz
Our English vocabulary app: FSRS spaced repetition, 5,000+ curated words across 119 topic groups, CEFR A1 to C2. Explore your mastery with the beautiful Vocabulary World feature.