There’s nothing that can hurt an owner/operator worse than working with the wrong freight broker. Trust, paperwork, and timely payment are the only things that truly hold the trucking industry together; therefore, selecting the right freight broker can be the determining factor in making each week either profitable or not. Using ratings can enable carriers to verify who they’re working with before accepting a load. When used appropriately, ratings assist in reducing carriers’ financial risks, preventing slow-pay issues, and allowing for better freight decision-making.
Freight Checkers makes it simpler for carriers to use ratings by collecting feedback from actual carriers regarding brokers, shippers, and receivers. If you would like to protect your business and steer clear of the brokers that are causing issues for other carriers, ratings should become a component of your standard load selection routine. Below is how you can begin to effectively use them.
Step 1: Research the Broker before Committing to Any Load
It’s easy to research a broker’s company name or MC # on Freight Checkers. This preliminary search provides you with a fast glance at:
- Reviews from other carriers
- Rating averages
- Recorded payment habits
- Carrier reviews of communication and professionalism
- Warning signs or common complaints from multiple carriers
Too many carriers bypass this step when they need to quickly secure freight. By taking the time to verify that the broker has no problem history, you’ll minimize the likelihood of being subjected to delayed payments or poorly managed loads.
Step 2: Analyze Patterns in Feedback Across Multiple Loads
While a single negative review may indicate a potential issue with the broker, it doesn’t necessarily provide the complete picture. While reviewing the ratings of a specific broker, look for trends in the feedback. For example, if multiple carriers have reported issues related to slow pay, rate changes, unexpected charges, or poor communication, take these patterns seriously.
Patterns of similar feedback tend to be a more reliable indicator of what to expect in terms of service than isolated comments. These patterns provide you with the basis for deciding if you can rely upon the broker or if the load should be completely ignored.
Step 3: Pay Close Attention to Reported Payment Issues
Reliability in regards to payment is perhaps the largest concern for all trucking businesses. Poorly managed payment cycles cause late payment issues, which in turn affect cash flow, fuel purchasing, maintenance funding, and payroll. Broker ratings offer you insight into how the broker manages their payment cycles.
Be sure to pay close attention to comments regarding:
- Disputes over invoiced amounts
- Late payment cycles (i.e., delayed check runs)
- Poor communication with the accounting department
- Quick payment options
- Unpaid invoices
If you notice any of these issues repeatedly in the feedback provided by carriers, consider these to be significant warning signs of possible issues that may arise later.
Step 4: Evaluate Communication and Load Details
Good communication generally leads to smooth and well-managed loads. In addition to providing insight into the payment cycle reliability of a broker, ratings can also provide insight into the quality of the communication and accuracy of the load details provided by the broker. Pay particular attention to comments regarding:
- Pick-up time(s)
- Delivery window(s)
- Detention policies
- Details regarding commodities
- Responsibility for lumpers
Carriers often report the “truth” of how the broker handled unexpected delays or changes to the original load plan. A good broker will communicate clearly and fairly. A poor broker will leave you in the dark.
Step 5: Use Ratings to Negotiate Rates
In addition to assisting in identifying potential issues with the broker, ratings can also assist you in negotiating rates. If you see a pattern of complaints against a broker or multiple complaints, you should be prepared to increase your rate expectations. Higher risk should equate to higher revenue.
On the other hand, a good broker with positive ratings may allow you to run narrower margins while feeling confident in the reliability of the load.
Step 6: Add Your Own Rating After Completing the Load
As stated previously, the effectiveness of protecting the trucking community depends upon the participation of all members of the community. After completing a load, please post your own rating to Freight Checkers. Your rating will assist other carriers in avoiding the same type of experience, and will reward brokers who consistently demonstrate professionalism.
Broker ratings empower carriers with the ability to create greater transparency in a market that is frequently opaque. By utilizing the above seven steps, you can eliminate the risk of working with a poor broker, maintain a consistent cash flow, and develop longer-term relationships with individuals who respect your efforts.
To begin making more informed decisions on every load you accept, visit Freight Checkers and begin incorporating broker ratings into your daily work processes.
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