i think its just one of those fyi things, like i was negotiating a load w/ broker tuesday and he didnt wanna add $50 to the 1st rate he quoted me, he said "he didnt have that much in the load" typical cheap broker! this is why i dislike brokers

 

Solo,

I'm not saying it's this way in your case, but I've read that some carriers have created an in house brokerage division that takes a cut before they "broker" the frieght to their own trucks.

So if the brokerage takes 20%, you would now be getting 72% of 80%.

Nice huh?

 

Simply wanting to know how much a broker made on a certain load is not the purpose of the law. All non-asset based businesses (stock brokers, real estate brokers, financial advisors, etc.) that perform a fiduciary function are regulated to some degree.
For instance, a broker may negotiate a fuel surcharge add-on with a shipper and be contractually bound to pass 100% to the carrier. Wouldn't it be nice to know if he has been skimming it?
Also, there have been instances where brokers have used their carrier payables as security for bank credit which is illegal. Trucker's Express out of Montana is a good example.
To the best of my knowledge, this regulation is rarely (if ever) used.

 

Would be nice if it became customary for small carriers to stop by, as allowed by law according to this thread, and get the info. Then have a web site where everybody could use the info as a reference.

 

I have to agree with Load it on this one as long as you got a rate thats acceptable to you it doesn't matter what the broker keeps. We are in this to make as much money as possible. If you don't like the rate don't take the load.

 

Being so new to this gig, I have yet to find my level of comfort with an attitude towards brokers.
Most other own auth. O/Ops seem to have this us vs them attitude.....a much different version we see outta G-man who believes he can always find a win-win situation.
My only point was if it is truely a us vs them....we us's (carriers) seem tottally outmatched. I feel like Custer at the Bighorn sometimes negotiating with a broker :-p.....Michigan State versus Walnut Elementry school :-p
Hard to feel hatred when just admiting i feel outmatched, more like despair :-p

 

You know it isnt just that easy, being a rookie carrier, I am finding out the hard way there is soooo much more to booking a decent load then just the rate and weight?
These brokers know that better then me, n the shady ones will rip me a new a-hoe.
They always say when something comes up, 'Oh I didnt know that'...when I deeply suspect that they did and were pulling a fast one on me.
They offer to compensate me but dont, by contrast a good 1, ATS sureway actually amended the rate agreement and compensated me.
I suspect to its all there in their initial set-up agreement, that I blindly initial and sign just to set-up with them, and they are counting on
that :-p

 

Have you called those shippers? Dispair will be when you realize I cant finish this load because I'm broke.

 

Business is about negotiation. Unless both parties to the negotiation gets something out of the deal, then it isn't a good relationship. I tend to be a hard negotiator, but I also provide value for my efforts. I also don't expect the broker to work for FREE. He must make a profit to stay in business. I don't think he needs to make 50% to make a fair profit. A broker or shipper will sometimes pay a higher rate for a carrier with a proven track record. He is not as likely to go out of his way for a carrier with whom he hasn't previously done business or who has not performed as they should. It takes time to hone your negotiating skills. Each load is a negotiation.

 

Most negotiations in my experience last about 3 seconds. If you can't pull it for this amount they want to hang up as quick as possible and call the next person who has a truck available.

Then, a few hours later I sometimes get a call back from the same broker asking if I'm still available and the rate has gone up a little but still no negotiation and they move on as quickly as possible until they find someone who will carry the load.

If I was a broker I would do the same thing. Keep calling raising the rate a little until I found a truck. I would want to make as much money as possible. You don't want to pull the load? Fine...I'll call someone else until I find a driver.