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Is there any distinct difference between commission and brokerage?

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posted Jun 14 by Swati Tyagi

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1 Answer

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Commisiion:
There are agents who purchase the goods from the manufacturer and sell them to the consumer. In a sense, such agents bring the manufacturers and the consumers together for transaction. The remuneration which an agent gets for his services in the transaction is called commission.

Brokerage
A broker is that middle-man who brings together a prospective seller and a prospective buyer and negotiates the sale between them. The commission that he gets is called brokerage, which may be charged from both the parties.

answer Jun 14 by Kavana Gowda
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