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Thread: Becoming a freight broker.

  1. #1
    kbraut832 is offline Member
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    Default Becoming a freight broker.

    I'm not sure if this is the right forum. I have been on the road for 20 years and am looking to find something where I can stay at home. Someone suggested freight brokering. Any suggestions on the best way to go about this? Every online school says they are the best, but I need actual student proof. Where are those successful brokers that went to a decent brokering school? Any help or advice would be appreciated. By the way, I am still trucking until I can possibly get this brokering thing going. Keep it safe out there.
    "Its a dog eat dog world, and I'm wearing milkbone underwear."

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  3. #2
    pepe4158 is offline Senior Board Member
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    I have own authority, deal with brokers constantly, n have flirted with the idea myslef....so I can get a few more trucks someday and just stay home n move them.
    Basicly this is the deal as I understand....NO matter what school you go to you probably wont have the abilty from the school alone to make it.......the school helps you pass the test you have to take, to have your license, you need to pass the test, and have the equity $ to post your brokers bond.
    AS far as you actaully making it, depends on your determination, and ability to learn quickly IMO

  4. #3
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    tracer is offline Senior Board Member
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    When I was at this year Louisville KY Trucking Show I met up with the guy who runs a Load Brokerage School. His ads are in all trucking magazines. He seems to be okay. If I were to decide to jump camps, I'd probably go with him: David Dwinell, http://www.loadtraining.com/

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    tracer is offline Senior Board Member
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    Here's an interesting quote from the Mr. Dwinell: "In my 90,000 plus freight brokerings my average freight bill to a shipper is $880 ... and my average payment to a motor carrier is $755 ... with a commission margin of 14.5% or about $125, for the past 25 years. At 5 loads a day that's ... a commission income in excess of $169,000 a year."

    $169,000 a year!? What am I doing driving a truck?

  6. #5
    ToxicWaste is offline Member
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    Quote Originally Posted by pepe4158
    I have own authority, deal with brokers constantly, n have flirted with the idea myslef....so I can get a few more trucks someday and just stay home n move them.
    Basicly this is the deal as I understand....NO matter what school you go to you probably wont have the abilty from the school alone to make it.......the school helps you pass the test you have to take, to have your license, you need to pass the test, and have the equity $ to post your brokers bond.
    AS far as you actaully making it, depends on your determination, and ability to learn quickly IMO
    As far as I know I never heard of a test to get your broker's authority :roll: Unless there is a seperate state license that I don't know about.
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  7. #6
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    sidman82 is offline Senior Board Member
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    Pay another $300 bucks to the fed's. Post a $1000 bucks for your $10,000 bond and poof, your a broker. Find shippers, post loads, take $50 bucks a load, sit at home and watch tv and drink beer. If it were only that easy. But, that's all you need to do. Good luck.

  8. #7
    terrylamar is offline Senior Board Member
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    Quote Originally Posted by sidman82
    Pay another $300 bucks to the fed's. Post a $1000 bucks for your $10,000 bond and poof, your a broker. Find shippers, post loads, take $50 bucks a load, sit at home and watch tv and drink beer. If it were only that easy. But, that's all you need to do. Good luck.
    Indeed, if it were that easy. With no experience who would take loads from you. If you don't have the money from the shipper up front, you can't pay the trucker up front and he would have to wait until you are paid to get paid. I think I read somewhere you need at lest $250,000.00 in cash or available credit to make it as a broker.

    Much like the debate over having little or no experience whether to be a company driver or an O/O. Perhaps, you start out as an Agent for a Broker before you become a Broker yourself.

    I, too, have been looking into this. Any insight anyone can give is greatly appreciated.
    Terry L. Davis
    O/O with own authority

  9. #8
    Grumman is offline Rookie
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    As far as a property broker you do not have to take a test. You just have to be 98.6, not a felon, post the surety bond, and of course apply for the license. Now as I understand it, in order to be a "customs" broker, you do have to take a test. That's probably why there are a lot fewer customs brokers around than property brokers. Of course, don't know why you need customs brokers. Everything coming from China goes to Walmart already.

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