What is the Difference between Realtor Dealer Trader Lender Broker and Agent
In daily business matters, we see involvement of different people like realtor, dealer, trader, lender, broker and agent. In routine life, people feel much confusion about the exact nature of work, related to these particular individuals. Here is a solution of their confusion in terms of some comprehensive differences.
Realtor
A real estate agent is commonly called as realtor. He is the person, who acts as a middle man between buyers and sellers who want to sale or buy property. He helps sellers to find buyers of their property and charge some money for their services.
Dealer
Usually, companies or organizations do not deal themselves, rather they take the services of dealer, who buy and sell on the behalf of that particular company. Dealers are also called as traders.
Trader
A person, who deals in the buying and selling of financial commodities, for instance stocks and bonds, is called as trader. We can divide traders into many categories, some work with institutions or as a part of corporations, some others work individually. Some traders are called as day traders, as they work on day to day basis.
Lender
A lender is someone who provides loans to others. Lender can be a company or an individual. There are some terms and conditions, on which money is lend to a needy person or company.
Broker
The person, who manages transactions between two parties, when something is bought or sold, is called as broker. He gets his commission after a successful deal.
Agent
When a person is not able to attend his work, he authorizes someone else to do his work. This authoritative person is called as agent. He takes the responsibility to act in place of someone else and gets some money for his work.
Realtor vs Dealer vs Trader vs Lender vs Broker vs Agent
A broker is a person who executes the trade on behalf of others, whereas a dealer is a person who trades business on their own behalf. Brokers and agents do the same type of work, but brokers are licensed to manage their own real estate businesses. Agents must work with a broker. Realtor is the term used to describe a person or organization whose business is to market real estate on behalf of clients, but there are significant differences between the actions and liabilities of brokers and estate agents in each country. While, dealer is an alternative usage of the term trader, being generally someone who trades. On the contrary, a lender is a person, who brows some money.
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