What is a Broker?

Broadly speaking, a broker is anyone who provides an intermediary service between buyers and sellers of products or services. Generally, they will specialise in one or a few industries, such as a water broker, a stockbroker, or a print broker. They will have extensive knowledge of their sector and a network of contacts throughout that industry.

What does a broker do?

The service a broker provides centres around negotiating and achieving prices for products and services that suit their client’s needs. For example, a car broker would use their network of contacts with car dealerships and other automotive retailers to find a vehicle with the right features and at the right price for their client.

What are the different types of brokers?

There are many different types of brokers, both in terms of the products and services they deal with and in the form their brokerage service takes. Brokers may be part of a brokerage firm or offer their services as independent or online brokers. Some can be described as full-service brokers, meaning they offer a wide range of services on top of their procurement activities, such as research and advice on their specialist industries.

Common industries for brokers to operate in include the print industry and the utilities industries. A business energy broker for example will assess a business’s power needs, location, and a wide range of other factors and then use their network to negotiate a contract that suits those needs at a reasonable price. This can also include things like prioritising the use of renewable energy if that’s a priority for a business.

Apertus Group are procurement experts, negotiating the best deals for our clients across many industries. Our energy broker services will scour the country for an energy deal that suits your requirements and needs, while our automotive broker services will find you a car at a price that suits you.

Get in touch to find out more about Apertus Group’s procurement services.