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The Role of a Freight Broker
- A freight broker serves as an intermediary between shippers and carriers in the complex shipping industry.
- They ensure cargo makes it safely to its destination by contracting available loads and finding acceptable rates within specified time frames.
- The broker is paid a percentage of total shipping costs by the company that contracts them to find a carrier.
How a Freight Broker Makes Money
- Freight brokers connect shipping and transport, taking 10-35% commission per load.
- More clients mean more earnings, with salaries ranging from $50,000 to $90,000.
- A broker connects shipping companies with authorized transport for the cargo.
Maximizing Broker Earnings
- Staying current and adapting maximizes broker earnings and competition.
- Challenges like competition and fuel costs exist, but technology helps streamline and serve clients better.
- Using systems and data helps brokers stay ahead and earn more.
Video Chapters:
- How brokers turn profit
- Key metrics measuring success
- What brokers provide for their fees
The Purpose of a Freight Broker
- A freight broker connects shippers and carriers for moving goods.
- Building relationships and finding qualified carriers to haul loads is included.
- Rate negotiation balances what shippers pay and what works for carriers.