A. THE AVERAGE BROKER/AGENT INTERMEDIARY TODAY, FAIL & EARN NO INCOME
According to studies, in most cases because of the central function that the Internet has performed in international trading, the actual market for the intermediaries or middlemen inside the international ‘secondary’ marketplace trading has been collapsing quite rapidly in recent times. Estimates of such experts and money owed with the aid of experienced trader, assert that the yr 2000 changed into the final “precise 12 months” for the middleman in the enterprise. Kamal J. Southall, as an example, keeps that “after 2000, the crucial mass of agents and investors who were ill-informed and poorly trained, as well as of fraudulently applied gives and scams, reached the point that real stop-consumers producers and providers clearly stopped responding [to intermediaries] besides in exquisite cases.”
Southall estimates, citing another professionals’ calculation, that out of a few 1,000,000 individuals presently looking to make it as agents or trade intermediaries in the world, “perhaps no extra than 1% has the training and talent needed to ever close a deal… [meaning that] the overpowering majority, are trading blindly, [hence] offers are collapsing… And extra to the factor, [oil dealers are] being defrauded – once in a while vastly”
In factor of fact, the general consensus among experts, is that previously, earlier than the present day creation of the predominance of the Internet in international trading while facsimile and telex buying and selling have been the very best medium for the commercial enterprise, there had existed a reasonably robust and feasible marketplace, even though small, for the intermediary agent. Such that it become alternatively not unusual for an middleman to on occasion get to a contract closing level and to close deals and earn at least affordable fee incomes. But that there has NOT been such an intermediary marketplace recently for a few years now, because the new Internet technology. But as a substitute, that this type of marketplace for the middleman has basically been dead for all but the maximum professional and experienced middleman inside the marketplace nowadays – killed in component, although by no means absolutely, by means of the preeminent use of the Internet medium by means of the Internet dealer and intermediary.
In brief, the new truth of today is that even as, inside the days earlier than the Internet, the average broking, agent or other middleman or ‘middleman’ concerned in international trading normally and efficiently closed deals and earned first rate income with as a minimum a few modest frequency, pretty to the opposite, such dealer or agent or different middleman who function in this cutting-edge Internet technology, alternatively, hardly ever closes any offers or earns any profits within the enterprise any greater.
And what elements account for this phenomenon – for the truth that these brokers and other intermediaries usually make no sales or earnings in this Internet era?.
B. MAJOR REASONS ACCOUNTING FOR THIS
There are many factors which account for this. Briefly summed up, they range from the dramatically increased quantity of scams and fraudsters in the commercial enterprise, made lots less complicated by means of the protect of anonymity furnished by means of the Internet, to relative loss of proper education, skills or information within the fundamentals of the commercial enterprise prevalent among the modern elegance of agents and different intermediaries as a result of the easiness of considered necessary qualification for one to turn out to be an Internet “dealer” or intermediary, to the detail of the elevated pervasiveness of “The Joker Broker” mentality and behavior many of the Internet-era brokers, sellers & other intermediaries. However, most of these numerous causative elements being duly considered, possibly the single, overarching, maximum paramount consideration accounting for the woeful failure and incapacity of the current dealer and the intermediary to efficaciously do commercial enterprise, may want to truly be subsumed into this one important topic and be summed up as follows: using, and reliance upon, badly mistaken and misguided method, rules and tactics for oil deals on the part of the current elegance of intermediaries in doing commercial enterprise – a category of intermediaries this is often normally infamous for being especially untrained, faulty and uninformed as to the actual and proper manner of doing the business.
Most regrettably, frequently the stop result of the above reality, is that through in large part depending upon and the usage of such faulty and badly improper methodology and approaches in doing commercial enterprise, such agents and retailers, who are notorious, as properly, for frequently being overzealous, self-ate up and desperate to discover a customer or make a brief fee in any respect costs, essentially become, themselves, certainly the largest barriers to themselves and fellow agents and dealers in efficaciously ultimate deals or earning money in the oil trading commercial enterprise!
C. THE BASIC WAYS MISGUIDED BROKERS & AGENTS BECOME THE MAIN OBSTACLES
Broadly speaking, there are a few primary identifiable main approaches wherein this as an alternative tremendous phenomenon of the contemporary overzealous and faulty Internet broking or agent constituting an obstacle in efficiently doing enterprise, regularly manifests itself.
USE OF BADLY FLAWED & IMPRACTICAL METHODOLOGY AND PROCEDURES IN DOING BUSINESS
But, probably the most impactful however pervasive manner and manner wherein the overzealous and faulty dealer/agent intermediary often constitutes himself (or herself), whether intentionally or by accident, into a crippling impediment, as opposed to an aid or facilitator, to successfully doing petroleum deals or ultimate one, is basically through their use of technique and processes which are badly fallacious and misguided, unrealistic, unreal, impracticable, and usually downright pie-in-the-sky like and comical.
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A traditional example of that, is the common resort through many Internet brokers and retailers to apply of the arcane approaches which includes the ‘LOI,’ ‘ICPO,’ ‘NCND,’ ‘BCL,’ and many others., in doing business. According to many respected experts and pro practitioners in the trading area, the employment of procedures inclusive of these with the aid of any dealer or intermediary, is sincerely an automatic marker which right away gives away the consumer as a trade newbie or intermediary and a failure who not only lacks the considered necessary training or know-how of the proper trading tactics, but who reputedly has never correctly closed any deals, and never will. In deed, to a seasoned consumer (or the agent of one), getting a income offer from a supplier or agent which opens with such terms and strategies, is commonly a clean marker which robotically sets off an alarm bell in such a customer’s head, spelling threat and potential doom to the client. As one professional positioned is, “In fact the presence of many of those phrases are taken into consideration to be signs and symptoms of Advance Fee Fraud, by using informed players and regulation enforcement.”