I support the author by indicating that mortgage brokers help save and manage mortgage

bankers' and clients' fees. They help eliminate various fees associated with working with a

new lender or new mortgages, such as appraisal fees, application fees, and origination fees

(Ferreira et al., 2017). In some cases, the brokers can convince the lenders to relinquish some

of the transaction costs. I also support the fact that mortgage brokers play a crucial role.

The next subject talks about Brokerage- the Best-Known Type of Real Estate

Business talks about the economic importance of using real estate brokers as market

facilitators. The author claims that real estate brokerage is an occupation that is highly

demanded, and for an individual to thrive, it requires an input of effort, skill, and knowledge.

This topic is a continuation of the previously discussed subject from chapter 11. The three

conditions representing the "price of success" in real estate brokerage include hard work,

dedication to customer welfare, and preparation (Ling & Archer, 2012). Real estate brokers

receive payments in commissions, which are always paid by sellers, although in some cases,

the buyers are the ones who pay. They are termed as catalysts of real estate transactions since

brokers emotionally and physically bring sellers and buyers together to enhance transaction

flow. Successful brokers have special and updated knowledge in marketing procedures that

have a history of success. Besides, they have expertise in prices and terms of recent

transactions of similar nature. They should know the needs of prospective buyers and the

legal obligations of sellers and buyers. The topic concludes that clients who use brokers in

their transactions gain more economically than those who do the transactions alone.