A sales broker acts as an intermediary between buyers and sellers, ensuring clients receive optimal results in transactions across sectors such as insurance, real estate, and financial services[3]. Their work requires a strong grasp of market trends, negotiation, and client management, and often involves generating new leads, maintaining existing relationships, and facilitating every step of the sales process[1].
Key duties and responsibilities include:
- Independently acquiring new business and establishing new broker relationships, as well as actively managing existing ones through communication channels like phone and email[1].
- Acting as the interface for clients to ensure timely generation of proposals, follow-up, and closing of new business[1].
- Preparing marketing materials, updating internal databases, and documenting all client meetings and correspondence[1].
- Understanding client needs, advising on suitable options, and managing negotiations to achieve favorable outcomes[3].
- Coordinating with insurers, internal teams, and regulatory bodies to fulfill compliance requirements, such as KYC (Know Your Customer) and AML (Anti-Money Laundering)[1].
- Attending client and insurer meetings and coordinating between internal teams to ensure smooth service delivery[1].
- Managing the placement of client risks in the marketplace, including specialized markets as appropriate (e.g., Lloyd’s in insurance)[1].
- Providing market analysis, identifying opportunities, and supporting sales strategies to drive business growth[1].
- Negotiating offers between clients and third parties, preparing contracts, and ensuring all documentation complies with industry regulations[3].
- Maintaining and growing existing client portfolios through cross-sell initiatives and relationship management[1].
Qualifications and skills often required:
- Relevant education, such as an associate’s or bachelor’s degree in business, finance, or marketing[1].
- State-mandated licenses or certifications, depending on the sector (e.g., real estate, insurance)[1].
- Proficiency in negotiation, market analysis, and client relationship management[3].
- Organizational, analytical, and strong verbal/written communication skills[1].
- Experience in sales or brokerage, generally ranging from 2 to 4 years for entry-level to mid-level roles[1].