Today, the provision of financial services offers a considerable number of business entities: banks, insurance companies, credit unions, pawnshops, private pension funds, stock exchanges. And all of them also provide brokerage services to individuals. Brokers are intermediaries between interested persons-customers for facilitating various forms of transactions (commercial, credit, insurance, investment etc.) Transactions are carried out by brokers on their legally registered order.
The spectrum of brokerage services is very wide and sometimes includes absolutely non-intersected spheres of economic activity: granting of credits, help in working at the financial market, customs brokerage services, purchase of real estate. The subjects of the above-mentioned activities are different. The requirements to the subjects of these activities are also different. Banks are far ahead of non-banking financial institutions in terms of asset turnover, the amount of borrowed resources, but it is non-banking financial institutions that can effectively provide loans for medium and small businesses and households.
Real estate brokerage services can be performed by a former realtor or real estate agency that employs such specialists. After all, who but they are experts in the intricacies of the mortgage market and the specifics of loan agreements. In particular, it is a broker will not forget to remind the client about the cost of processing the loan (the peculiarities of cash services, payment of additional fees at registration of the loan), which increases the cost of the loan, and what the mortgage consultants of the bank is not interested to remember. A mortgage broker will quickly get you a loan on favorable terms, as he is interested in doing everything to keep you happy.
What is the cost of brokerage services?
Legislation regarding the regulation of services determines the specifics of transactions in financial intermediation, but the fee is set by each broker individually. Depending on the amount paid to the broker, the client can receive prior advice, assistance in evaluating its creditworthiness, in selecting the best program, the formation of the necessary package of documents.
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