Brokered Meaning: Definition, Examples, and Translations
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brokered
[ˈbroʊkərd ]
Definition
business dealings
The term 'brokered' refers to the act of negotiating or arranging a transaction or agreement between two or more parties, often involving a mediator or broker who facilitates the deal. This process is common in various industries, including real estate, finance, and legal services. When a deal is brokered, it implies that the involved parties have reached a mutual agreement, often as a result of negotiations led by the broker. Typically, the broker earns a fee or commission for their services in successfully connecting buyers with sellers.
Synonyms
arranged, mediated, negotiated.
Examples of usage
- The agent brokered a deal between the two companies.
- She brokered an agreement to resolve the conflict.
- The deal was brokered after hours of negotiations.
Translations
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Interesting Facts
Business
- Brokerage firms serve as intermediaries in various markets, including real estate, finance, and insurance.
- In negotiations, brokers can help resolve conflicts and find common ground, making deals smoother and faster.
Cultural Impact
- In movies and TV shows, brokers are often portrayed as charming characters who know how to work the system.
- The dramatic rise and fall of stock market brokers during the 2008 financial crisis led to a public re-evaluation of the role.
Legal Aspects
- Some industries require brokers to have licenses to ensure ethical practices and protect clients.
- Broker contracts can define the terms of service, including commissions and responsibilities, reflecting the trust placed in them.
Technology
- Financial technology has transformed the brokerage industry, integrating online platforms that allow for trading with minimal fees.
- Robo-advisors are automated platforms that broker investments without human intervention, making investing accessible to more people.
Origin of 'brokered'
Main points about word origin
- The word comes from the Old English 'brocian', meaning to arrange or to deal.
- In the financial world, 'broker' has evolved to specifically refer to someone who buys and sells assets for clients.
The term 'brokered' originates from the Middle English word 'brocour,' which means 'a small trader or dealer.' The word 'broker' itself is derived from the Anglo-Norman term 'broceor' and the Old French 'brokeur,' which implied a person who deals in commodities. Historically, brokers were individuals who facilitated transactions in marketplaces, often serving as intermediaries between buyers and sellers. Over time, the role of brokers expanded to include various sectors, such as finance and real estate. The concept of brokering has remained integral to trade and commerce, evolving with the development of markets and economic systems.