How to Become a Freight Broker in Virginia
It’s a good time to become a freight broker, as the career is expected to grow over the next 10 years. Freight brokers are independent contractors who serve as the intermediary between motor carriers and those who need freight services. They charge a fee for their services matching carriers with clients.
Freight brokers are different from freight broker agents who work under their supervision and licensure authority. While freight brokers are required to hold a license, freight agents are not. Agents have their own customers and make a commission with no liabilities, while freight brokers must hold surety bonds and a license.
Requirements for Becoming a Freight Broker in Virginia
Freight brokers must have a high school diploma or GED, carry liability insurance and hold a $75,000 surety bond in order to obtain licensure through the U.S. Department of Transportation (DOT). A freight broker business can then be granted a Broker Authority license.
Freight Broker Classes and Educational Programs in Virginia
No certification is required to become a freight broker in Virginia, but training is highly recommended for a successful career. Classes for freight brokerage are available online and in-person, ranging from one-day courses to year-long study. Local trucking schools and community colleges may also offer freight broker training.
- Brooke Training. This popular freight broker school helps students prepare for a career in freight broking by teaching them about the freight industry, helping them understand business setup and teaching them how licensure and bonds work.
- Freight Broker lanet. Based in lorida, this online freight broker school claims 32 years of experience in the field. They offer numerous courses, which students can schedule at their own convenience. Freight Broker Planet is 100 percent veteran owned.
Licensing for Becoming a Freight Broker in Virginia
Licensing is required through both the U.S. Department of Transportation (DOT) Federal Motor Carrier Safety Administration (FMCSA) and the Virginia Department of Motor Vehicles (DMV). For freight brokerage involving transportation of passengers within Virginia, brokers must obtain an Intrastate Operating Authority license through the DMV.
Virginia license holders are required to hold at least $25,000 in surety bonds. Proof of insurance is required at both the federal and state levels.
Career Outlook and Salary Expectations for Fright Brokers in Virginia
In the next 10 years, freight brokers are expected to increase nationally by 10.4 percent, with increasing salaries as well. In 2017, the Bureau of Labor Statistics reported that the mean annual income for freight brokers nationally was $44,980, while the mean hourly wage was $21.62. Virginia’s 2017 average freight broker incomes were right in line, with a mean annual wage of $44,910 and a mean hourly wage of $21.59.
Working as a Freight Broker in Virginia
With the constant and rising need for workers in the Virginia freight industry, it’s never been a better time to explore this exciting career. Freight brokers have freedom in their career choices. Most can work wherever they want, whether at home or in a corporate office setting. Some freight brokers run their own businesses and can set their own schedules. Others work for larger, established companies.
Because of Virginia’s location on the East Coast, airways and seaways offer a constant flow of goods to be shipped from the area. Constant freight activity keeps Virginia full of opportunity for freight brokers to find clients. Most freight exported from Virginia runs by rail, and the top cities for freight business in Virginia are Virginia Beach, Norfolk and Richmond. These cities would make the best place for a Virginia freight broker to build a career in the state.