How to Broker an Agreement

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A broker is a middleman or liaison in a business deal. The broker helps bring the two parties together to begin the business arrangement. In essence, the broker does a significant amount of the work to develop and finalize the agreement, making things easier for the two involved parties. If you feel that you can add value and knowledge to business transactions, you can start brokering agreements yourself.

Make an official arrangement with a service or product provider to broker agreements on the company's behalf. For example, if you want to help sell insurance products you must make arrangements with one or more insurance companies to do so.

Find a buyer or taker interested in securing the product or service your providers offer. Mortgage lending brokers and similar professionals buy leads lists, make cold calls and network to find new clients. You can also set up a website advertising the services you offer.

Negotiate the agreement between the two parties. You must communicate with both the seller (service provider) and the buyer (client) regularly to address issues of concern and finalize the terms. Quote the client with the final price for the service including your broker fee.

Create a broker agreement that binds the client to the service provider's terms. A standard broker agreement includes the names of both parties along with the full name and address of the broker (you). Outline all terms as negotiated in the previous step and also include a section describing your terms as the broker.

Arrange a meeting between the two parties to sign the contract or fax the agreement to the client for signing. Deliver the signed agreement to the service provider to handle the account from that point on.

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