What is a Broker transaction?
A Broker transaction is one that involves a Buyer, a Seller, and a Broker. Transactions are created on the Escrow.com website by the Broker. The Broker states the merchandise to be sold, the purchase price, and the Broker commission amount. The purchase price less the commission amount results in the Seller's proceeds. Once all parties have agreed to the transaction terms on the Escrow.com website, Escrow.com secures funds from the Buyer and then notifies the Seller to transfer merchandise to the Buyer. At the close of the transaction, the Seller is paid the Seller's proceeds and the Broker is paid the commission amount. The Buyer, Seller, and Broker are all equally protected during the transaction.
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