ELI5: Explain Like I'm 5

Buyer broker

Imagine you want to buy a toy but you don't know where to find it or how much it costs. You could ask your parent, a friend, or even go to the store yourself, but it might take a lot of time and effort to figure it out on your own. That's where a buyer broker comes in.

A buyer broker is like a special helper who knows all about toys, where to find them, and how much they cost. They have a special job to help you, the buyer, find the toy you want and make sure you get the best deal possible.

When you hire a buyer broker, they will listen to what you want and help you find the toy that meets your needs. They may also give you advice on things like how much you should pay for it, what features to look for, and any potential problems to watch out for.

But how do buyer brokers make money? Well, when you buy a toy with the help of a buyer broker, they get paid a commission or a fee for their services. This means they are motivated to help you find the best toy at the best price because their pay depends on it.

In summary, a buyer broker is like a special helper who knows all about the toys you want to buy. They help you find what you need, give you advice on what to look for, and get paid a commission for their services.