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Is there any distinct difference between commission and brokerage?

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Is there any distinct difference between commission and brokerage?
posted Jun 14, 2017 by Swati Tyagi

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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, 2017 by Kavana Gowda
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