Mike Kelly & Associates Inc. - Clinton Township, MI - Phone: (586) 295-8609
A broker working with a brokerage firm or an agency in Clinton Township, 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.