Which of the following describes a legal agreement allowing multiple persons to manage a real estate business?

A brokerage partnership is a specific type of legal agreement that allows multiple individuals to come together to manage and operate a real estate business. This arrangement typically involves agents or brokers pooling their resources, skills, and knowledge to better serve clients and share the responsibilities associated with running a brokerage.

In a brokerage partnership, each partner typically has a role in the management of the business, and they share in the profits and losses of the company according to their agreement. This type of partnership is essential in the real estate industry, where collaboration often leads to better service and increased opportunities for growth.

Understanding this context clarifies why a brokerage partnership is the correct answer; it reflects the collaborative nature of real estate operations. Other forms of partnerships or business entities, while sharing some similarities, do not specifically capture the unique aspects and operational focus of a real estate brokerage.