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A brokerage is a firm that assists in the selling and acquisition of specific types of goods. In the most common usage of brokerage firms, these are firms that deal with the buying and the selling of stocks. However, there are brokerage firms that deal with buying and selling of houses, food supplies, furniture, and various other goods that might be necessary for personal and business use.
A brokerage has employees who are trained in the necessary paperwork, negotiations, and other aspects that are required to broker a deal. When a brokerage firm is employed, the individual assigned to the case is the intermediary between the seller and buyer. They are employed to negotiate the terms of the sale in order to benefit both parties.
The payment method of a broker from a brokerage firm is dependent upon the type of firm the individual is from. Large firms can have payment in which both the seller and buyer each pay a share to the broker. However, there are brokerage firms in which the individual is paid solely by the seller because the seller is the one making the profit from the deal and is typically the one who initiates employment.
A brokerage can hold many cases and items for movement, which make it a highly valuable asset in the area of economics. Recently, however, much of the assets have been moved to online venues in order to be more accessible for buyers and sellers. This is an area that needs strict supervision in order to avoid large issues, and the brokerage firms are required to manage these dealings closely.
What is a Brokerage Firm?

A brokerage firm is an institution that, in essence, acts as a stock broker for individual clients or business entities. The broker is a party that mediates between any buyer and seller in a market.  A broker can also act as a seller or as a buyer to initiate a principal agent to the deal.
There are a number of types of brokers, including: aircraft brokers, business brokers, insurance brokers, mortgage brokers, joint venture brokers, options brokers, stock brokers, real estate brokers, retail brokers, and investment brokers.  
A brokerage firm makes money through the sale or purchase of a good. Through mediating and facilitating the transaction, the broker will make a commission on the transaction. The commission is simply a percentage of the total transaction.
Brokers are necessary agents in the various financial or contractual agreements that exist between coordinating entities. The broker is a middle man or third person facilitator between a buyer and a seller. For example, in property transactions, a Real Estate Broker will facilitate the purchase or sale of a particular property. The Real Estate broker will act on behalf of a real estate company and mediate the sale between the private consumer and the entity offering the property. 
In finance, a stock broker acts on behalf of either the buyer or seller. A stock broker will physically purchase the underlying equity or fund on behalf of his or her client, who agrees on the purchase of the financial product.

Code of Conduct

All brokerage firms and the underlying brokers within such institutions must follow a specific code of conduct to ensure the delivery of reliable and accurate information. As a result of the monetizing business model of a brokerage, there are many schemes which unjustly disrupt a client’s desires.
In the United States, however, many brokerage firms do not operate under a tangible set of laws. To regulate the market, a broker must simply pass an examination to prove their knowledge and ensure the ability to broker a deal between two parties. In finance, for example, a stock broker must pass a series examinations administered by the Financial Industry Regulatory Authority. The Series 6 and Series 7 exams are the fundamental examinations required to become a financial broker. Similar to a financial broker, other forms of brokers must pass examinations which evaluate the applicant’s particular knowledge of the underlying product or service.
The code of conduct is instituted by the brokerage firm. These rules must be followed by the particular brokers to avoid termination. If the broker is misrepresenting himself or the company for which he works, he may be liable for a lawsuit in accordance with the laws which protect against predatory practices.
The consumer in any brokerage deal has undeniable rights which are meant to ensure the delivery of sound, accurate, and moral information. A failure to deliver such information can result in a lawsuit and a settlement for the recoupment of any potential losses.