Final answer:
A real estate brokerage firm can be set up as a private company or a corporation. If it is a private company, it can be a sole proprietorship or a partnership. If it is a corporation, it can be a private corporation with no publicly issued stock.
Step-by-step explanation:
A real estate brokerage firm can be set up as a private company or a corporation. If it is set up as a private company, it can be a sole proprietorship or a partnership. A sole proprietorship is owned and run by an individual, while a partnership is owned and run by a group of people. If the real estate brokerage firm is set up as a corporation, it can be a private corporation, meaning it has no publicly issued stock.