A brokerage is an agent who put buyers and sellers together in order to facilitate a transaction. The term can be used in different ways, depending on the context.
In business, a broker may refer to an individual or firm that arranges transactions between a buyer and a seller, usually in return for a commission. For example, real estate brokers help their clients buy or sell properties. Stockbrokers help their clients buy or sell shares of stock.
Brokerage can also refer to the business of being a broker. For example, someone might say that they are in the brokerage business. Or they might say that they work for a brokerage firm.
When used in finance, the term has a slightly different meaning. Here, it refers to the practice of buying and selling securities on behalf of clients, rather than with one’s own money. Stockbrokers and other financial professionals who engage in this activity are said to be doing broker-dealer business.