brokerage
A firm that acts as an intermediary in transactions and is paid fees or commissions, such as in property, insurance or securities.
Definition
A brokerage connects buyers and sellers and earns a fee for facilitating the deal. In real estate, the brokerage is the licensed firm under which agents operate, and the managing broker is responsible for supervision and compliance. The term also applies to insurance and investment. Roles and licensing rules differ by country, so check who is legally responsible for your transaction and how to raise a complaint. If a dispute arises, the brokerage is often the first formal point of complaint, so keep its contact details with your documents.
In a sentence
The agent worked under a brokerage that handled the contracts and funds.
The brokerage kept a share of the commission.
