There are very few things that your average Joe can’t accomplish on his own with a little research. The internet has placed infinite resources at our fingertips and opened up massive person-to-person marketplaces for buying and selling anything under the sun. Even still, there are some situations where using a broker can be advantageous for buying and selling online.
Short on Time
It’s true that you can find nearly anything you would like on online classified sites or auctions, but do you have the time to dedicate to your search? Hard-to-find items can take weeks track down and often require knowledge of niche markets. Unless you happen to have access to those types of marketplaces, a broker can be a great alternative. Brokers have taken years to develop the relationships and connections needed to find buyers and sellers for highly specialized or rare items.
Save the Paperwork
Once you’ve found the car or artwork you’re looking for you now have to draft up the proper paperwork to complete the transaction and ensure that you have the correct documentation. Again, brokers can save you time and hassle as they put together these types of deals on a regular basis – gathering all the paperwork together for you and the other party into one single portfolio.
Secure Your Funds
Brokers will often work with an online escrow company or other financial entity to ensure that the transfer of funds is safe and secure. Brokers that work with a platform like PaySAFE have the ability to compile the purchase agreement and any additional documentation or photos into a single interface for both the buyer and seller to view. PaySAFE then coordinates with the broker to ensure that all funds are verified and held before the seller ships the item, and that the buyer has proof of shipping or confirms delivery before their purchase funds are deposited directly into the seller’s bank account of choice.
Ultimately, the decision as to whether or not you would like to use a broker comes down to personal preference. Some buyers and sellers enjoy coordinating all aspects of a transaction on their own and have the time to do so. But if you’re a busy individual in search of a highly specialized or rare item, looking into the services of a broker may be a great alternative.
For more information about the benefits of escrow and broker services, see our posts on using escrow to promote your broker business.