For those in the world of business, a definition of the term “brokerage” can either mean:

· A business that charges fees or commissions to bring two or more parties together to participate in a deal, sale or a transaction.

· Brokerage can also simply be be defined as the fee charged by the brokers themselves to their clients for his or her services.

Brokers are the professionals who makes transactions possible. They can either work under a brokerage firm, or works as an independently.

Brokers are usually trusted agents that serve as an intermediary in most business transactions. For most cases, being a broker needs proper training education and licensing.

A brokerage firm, or simply brokerage, is a company or an institution that facilitates the buying and selling of goods. They can also help their clients by offering them to look for companies that can render their services, such as those in the freight brokerage and customs brokerage business. A brokerage firm is the place or company wherein brokers work.

There are 2 classifications of Brokerage firms. The first is the traditional Full Service Brokerage, while the other is the Discount Brokerage. The main difference between these two is the way they conduct their business.
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