Frequently Asked Questions - FAQ

1. Why should I attend your program as compared to the other broker training programs?

2. How long has RGI been training?

3. What is a property broker?

4. What are the requirements of an FMCSA property broker?

5. What is a surety bond?

6. Is this a growing sector of the transportation industry?

7. Must a brokerage company carry cargo and liability insurance?

8. What do I need to get started?

9. Can I work from home?

10. How long will it take for my business to become profitable?

11. What is the difference between a broker and an agent?

12. How much money can I expect to make?

13. Do I need previous experience or special training to become a broker?

14. How do I find customers?

1. Why should I attend your program as compared to the other broker training programs?

It's actually quite simple - More value for less money. PLEASE check out all the schools available and do your due diligence. We welcome the competition because we know our product is better than any on the market.

Dependability, Integrity, Service and Honesty Always (DISHA) are not something we just talk about, it is something we live by. Our goal is to deliver the highest quality product at the fairest price. We pass on our wealth of knowledge in order for you to apply in your business so you can become profitable sooner. We do not guarantee success, we just do everything in our power to give you the proper tools to become successful.

Some of the other schools may have people associated with the training who have been in the transportation industry longer than our primary instructor but our record speaks for itself and our mission is to help you reach your objective. We live by and believe in the Zig Ziglar motto "You can have everything you want in life if you just help enough people get what they want!" We truly want to help you and we want to do it with a program and a price that will make the most of your resources.

Be sure to read the testimonials of former students who were taught by our primary instructor as it only validates our desire to make you successful.

2. How long has RGI been training?

Roll Group International (RGI) has been training since 1998. The primary instructor for RGI has been a trainer or coach for over 25 years. RGI has been instructing freight broker training since 2002.

3. What is a Property Broker?

A Property Broker is the term established by the Federal Motor Carrier Safety Administration (FMSCA), a division of the United States Department of Transportation, to describe licensed individuals, or companies, who help make a shipper and an authorized carrier successful in the transporting of freight.

4. What are the requirements of an FMCSA Property Broker?

To become a broker you must file Form OP-1, Application for Motor Property Carrier and Broker Authority. This operating authority requires you to have on file with the FMCSA either a surety bond (BMC-84 form provided by an insurance company) or a trust fund (BMC-85 form obtained by request to the Insurance Compliance Division at FMCSA in the amount of $10,000) as well as a Designation of Agents Form BOC-3.

5. What is a surety bond?

Each company or entity must prove they are capable of paying the various truck lines, airlines, railroads, or any other entity being used by the broker. An individual's credit, and/or financial strength, is investigated with extreme thoroughness. Only then is a "bond" issued. Accordingly, if for some reason the broker fails to pay the transportation company, the bonding company must pay. As you can imagine, the bonding company is very careful about who they insure.

6. Is this a growing sector of the transportation industry?

As of this writing, there are over 16,000 licensed transportation brokers in the United States. Freight Brokers accounted for over 20%, roughly $80 billion, in revenues from the Transportation Industry. In a recent article, the Wall Street Journal reported "transportation brokerage, and logistics" as the fastest growing segment of the transportation industry.

7. Must a brokerage company carry cargo and liability insurance?

By law, a broker is not required to carry cargo or liability insurance. Many brokers offer it as an add-on value for doing business with the brokerage.

8. What do I need to get started?

If you want to become a Broker you will need a computer, telephone, and fax machine. In addition, you will need to obtain the 3 legal documents:

(1) Broker's Authority - through the FMCSA (Federal Motor Carriers Safety Administration) - $300. We teach our Freight Broker Training students to properly fill out the OP-1 and file for your authority.

(2) Surety Bond or Trust Fund - obtained from a local bank or bonding company. Costs vary depending on your personal credit history. For as little as $550 per year to as high as a one-time fee of $10,000. Works much like a regular insurance policy. The form to be filed is either the BMC 84 or 85 depending on whether you obtain a bond or trust.

(3) Processing Agent - Approximately $35 so that in case you ever have a lawsuit filed against you, a lawyer from that state will call and inform you of the claim. The form to be filed is the BOC-3.

There is no license requirement for becoming an agent; you will only need a computer, phone, and fax machine and accounts to do business with.

9. Can I work from home?

Yes - It is a great place to start your small business and will keep your expenses down until you have enough financial resources to open up an office.

10. How long will it take for my business to become profitable?

This is a relationship business and relationships take time to develop. Typically it will take 2-6 months to show a profit, but it has been accomplished in less time and in more time. You can generate revenue as soon as you become licensed. Your success depends on many factors, including your level of determination, your attention to detail, and your genuine desire to help your CUSTOMERS succeed.

11. What is the difference between a Broker and an Agent?

A Broker owns his/her own company and must obtain all of his/her own legal documents to get started. A broker accepts all risk and liability for his company's actions. An Agent works for an established Broker under the Broker's legal documents. It is a 100% commission position and works for a percentage of the profits he or she generates.

12. How much money can I expect to make?

There are no limits to your earnings either as a broker or an agent. As a broker you will be receiving more of the profit but assuming more of the risk & liability. As an agent you can expect to make between 35-70% of the net profit of all loads you move for the brokerage. Your individual earnings will depend on your own personal abilities and how determined you are to succeed. How much focused energy are you willing to invest in your success?

13. Do I need previous experience or special training to become a Broker?

The government does not have any testing or educational prerequisites as they do for insurance or real estate brokers. Therefore, anyone can apply to become a Freight Broker. It is a wise move to learn from experience professionals so you can become profitable more quickly.

14. How do I find customers?

During class we will show Freight Broker Training students about 15 different sources for locating customers, these include publications, associations, reference sources, internet resources, etc.