A commercial broker is an individual who provides specialized services in the commercial real estate industry, focusing on facilitating transactions between buyers and sellers or landlords and tenants of commercial properties. The business activity of commercial brokerage services, on the other hand, involves acting as a middleman or intermediary between buyers and sellers of various goods, including commission agents and wholesalers who trade on behalf of others, as well as those who facilitate commercial transactions on behalf of a principal.
The business activities that fall under Commercial Broker are:
Commercial Brokers(4540.96): These are individuals who provide intermediary services in commercial real estate transactions. Commercial brokers are specialized professionals who help businesses or individuals to buy, sell, or lease commercial properties, such as office buildings, retail spaces, and warehouses. They act as intermediaries between buyers and sellers, negotiate the terms of transactions, and ensure that the transaction is legally compliant.
While commercial brokers primarily deal with commercial real estate transactions, some may also provide related services such as property management, market research, property valuations, and advice on financing options. However, these services are typically related to commercial real estate transactions.
- Third-party Approval: No third-party approvals are required for this business activity.
- Third-party Approval: Business activity 4540.96 is exempt from this requirement.
- Anti-Money Laundering Compliance: Business activity 4540.96 is exempt from this requirement.
Commercial Brokerage Services (4610.11): This involves acting as a middleman or intermediary between buyers and sellers of various goods. This can include commission agents and wholesalers who trade on behalf of others, as well as those who facilitate commercial transactions on behalf of a principal, which can include online transactions.
Specifically, this business activity includes agents involved in the sale of a wide range of products such as agricultural raw materials, textile raw materials and semi-finished goods, fuels, ores, metals and industrial chemicals, food, beverages and tobacco, textiles, clothing, fur, footwear and leather goods, timber and building materials, machinery (including office machinery and computers), industrial equipment, ships and aircraft, furniture, household goods, and hardware.
Commercial brokerage services also include the activities of wholesale auctioneering houses, where products are sold in an auction format to the highest bidder.
However, this business activity does not include wholesale trade conducted in one’s own name, activities of commission agents for motor vehicles, auctions of motor vehicles, retail sales by non-store commission agents, activities of insurance agents, or activities of real estate agents.
- Third-party Approval : No third-party approvals are required for this business activity.
- Filing of Economic Substance Return: Business activity 4610.11 is exempt from this requirement.
- Anti-Money Laundering Compliance: Business activity 4610.11 is exempt from this requirement.
