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Broker Duties and Responsibilities
In order to oversee all aspects of a company's sales, a Broker performs many different tasks. We analyzed job listings for Brokers in order to identify these core duties and responsibilities.
Assess Customer Need The Broker must be very knowledgeable in regards to their company's products and services, being able to answer any customer questions, advise customers and guide them toward a product or service that fits their needs. It is critical that the Broker be able to discuss company function and offerings articulately and accurately. Brokers are often required to continually update their knowledge through training and educational programs.
Provide Customer Service Providing excellent customer service is integral to the Broker role. They are often responsible for creating potential customer and client relationships, which includes documenting comprehensive customer information. Brokers must work to maintain these relationships by continually assessing customer needs, identifying client concerns, recommending solutions, and following up regularly. The Broker will also collaborate with other teams to provide recommendations for the improvement of customer experience.
Execute Sales A Broker's ultimate goal is to successfully close deals. This includes getting sellers and buyers on the same page in regard to price and terms of the deal. Often, Brokers must act as a mediator between the parties, making sure that their concerns and desires are addressed.
Process Transactions After completing deals, the Broker is then responsible for preparing and completing all the necessary documentation and paperwork for the sale, often requiring some knowledge of local and federal laws and regulations regarding sales, trading and taxation. They must then process the transaction, ensuring that the customer is accurately charged and all necessary receipts and invoices are given and filed.
Broker SkillsBrokers are relationship builders who ensure customer satisfaction. They exhibit excellent interpersonal skills and are enthusiastic, persuasive and likeable communicators. They are also highly detail-oriented and organized perfectionists who ensure that all aspects of the brokerage process run smoothly. They are intelligent people who learn quickly, pick up and store large quantities of information and are highly articulate. Core skills: Based on job listings we looked at, employers want Brokers with these core skills. If you want to work as a Broker, focus on the following.
- Proving ability to build relationships with customers
- Showing proficiency in common computer programs, such as Microsoft Word and Excel
- Demonstrating a solid understanding of business and their product
- Possessing sales and customer service experience
- Having experience dealing with high volume of calls and e-mails
- Industry-specific brokerage license
- Industry-specific experience
- Finance or business administration experience
- Brokerage or sales experience
We searched the Web to find the best industry resources to help you continue exploring a career as a Broker. From thought leaders to industry groups, this list is packed with opportunities to learn, connect and engage. On the Web
Casualty 360 Blog - Agent and broker blog
The Reformed Broker - Posts from a financial adviser
The Business Broker Blog - Tips and news from business brokers Industry Groups
NAREB - National Association of Real Estate Brokers
NAHU - National Association of Health Underwriters
International Business Brokers Association - International group of business brokers Broker Books
Start Your Own Freight Brokerage Business - A Step-by-Step Guide
Business Brokerage - An Opportunity for Real Estate Professionals
The Art of Business Brokerage - How to List and Sell Businesses
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