Brokerage firms gather information on the sellers in their preferred industry. They then advertise the sellers’ products (or services) through their networks. The buyers approach the brokerage firms to show interest in the asset for sale by the sellers. The brokerage firm then dispenses the full information and prices. Since the brokers facilitate the trade transaction, they demand compensation from both parties. This commission structure varies significantly by the broker industry.
Modern brokerage firms and online platforms acting as brokerage have automated the process. The transactions between the buyers and sellers through a third-party broker have become seamless. Most modern e-commerce platforms like Amazon or eBay work as a middleman (broker) between the sellers and the buyers.
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