Load Board for Brokers (2024)

FAQs

Can brokers use load boards? ›

Freight brokers use load boards to easily find carriers who have trucks available to move their shippers' freight. Freight brokers also have the option to post loads to load boards and wait for carriers/owner operators to contact them about their freight.

If you're a trucker, a freight broker, or a small fleet owner looking for the most effective ways to optimize your operations, some of the best load boards are DAT, DirectFreight, 123Loadboard, C.H. Robinson Navisphere, TruckStop, Trucker Path, and Amazon Relay.

For brokers, tracking a semi-truck and its contents while in transit can be accomplished in a few different ways: Tracking via electronic logging devices. Tracking via mobile applications. Tracking via regular phone call check-ins.

That being said, at its core, it is not a legal practice. Double brokering is an unethical, fraudulent, and illegal practice in the freight industry. It is considered a breach of contract between a broker and a shipper, and is a violation of MAP-21 laws.

Shippers can post the loads they need delivered on digital bulletin boards, where they are visible to carriers and freight brokers.

Freight brokers make their money in the margin between the amount they charge each shipper (their customer) and what they pay the carrier (the truck driver) for every shipment. Although it varies from one transaction to the next, healthy freight brokers typically claim a net margin of 3-8 percent on each load.

Truck drivers, freight brokers, and shippers rate and review 123Loadboard as one of the top-rated load boards and mobile apps in the transportation industry. Transparency is good for everyone and reviews are a great way for potential customers to tell how a company is doing by hearing it straight from other consumers.

While they may not provide as many features as paid options, free load boards are often worth it because they're budget-friendly and simple to use. Many carriers depend on them to find at least some of their loads.

The freight broker commission percentage you receive depends on a range of factors but usually ranges between 15 and 30 percent of the transportation fee. Factors that affect the percentage include your level of experience, the complexity of the shipment, and the current competitive rates in the industry.

What do shippers want from brokers? ›

A good broker will ensure proper planning, on-time pick-up and delivery and clear communication throughout the process. Sometimes shippers wonder what they're actually buying when they hire a broker, hence the tendency to lean on asset-based trucking companies.

Shippers and carriers tend to approach freight billing on slightly different timelines. For example, many shippers operate on net-30 or net-60 terms, meaning they'll pay a broker's invoice within 30 or 60 days. Carriers, however, often expect brokers to pay much more quickly on a net-15, net-7, or immediate basis.

Licensed brokers who own their own freight brokerage business, have the ability to earn a higher salary. Freight brokers typically earn between 10% to 30% profit margins on a shipment, depending upon the mode of transportation, the complexity and distance.

However, we know the actual best way for carriers to get loads directly from shippers: using a load board! A load board is a powerful tool that can connect shippers, carriers, and brokers. These online marketplaces allow shippers and brokers to post available loads, which present opportunities for carriers.

Load Boards

This is one of the most common ways brokerages find loads. They look at load boards, which the oftentimes have a subscription to, and they choose loads they may be able to cover, those within their purview and available lanes, and bid on them.

The freight factoring process involves interactions between three parties: You (the freight broker), your client, and the factoring company. You send your invoice onto the factoring company, who pay you 85% (for example) of its value within 24 hours of receiving them.

What is a freight broker or load broker? Both terms are commonly used to define a person or company that acts as a middleman between shippers and carriers. A load broker often works with a shipper to help them find the best carrier suited to their unique needs.

A freight broker can even use a load board to establish a relationship with dedicated carriers. Carriers can quickly book up multiple trucks and find available freight or loads anytime. This helps everyone to make more money.