Broker commission
Overview
A broker commission refers to a fee or a compensation that a broker receives for facilitating a financial transaction between parties. A broker is an intermediary between the borrower and lender in transactions or commercial negotiations, who takes commission for any loan contract signed between the two parties, but does not own any stake in the contract. Usually, a percentage of the value of each transaction is charged as commission. The broker may be an individual, or a business or other institution.
This section takes you through the following details related to broker commission:
A broker account and the levels of hierarchy