9 Commission levels?

[Tahoe Ray]

And NEVER accept the words "street level" as an answer when asking about commissions. T

Again...that's total bullshit and depends on the product line.

There are absolutely "street" contracts and it even says so on the contract comp schedule itself.

Of course, you should actually see this contract and verify that the levels are appropriate (which I'm hoping is what you're trying to communicate) but that doesn't change the meaning of the term.

I know we've had this discussion before but making an IMO sound deceptive because they use the word "street" is just not accurate.

Maybe I'm being too picky but your wording is really misleading.

 

[Newby]

Again...that's total bullshit and depends on the product line.

There are absolutely "street" contracts and it even says so on the contract comp schedule itself.

Of course, you should actually see this contract and verify that the levels are appropriate (which I'm hoping is what you're trying to communicate) but that doesn't change the meaning of the term.

I know we've had this discussion before but making an IMO sound deceptive because they use the word "street" is just not accurate.

Maybe I'm being too picky but your wording is really misleading.

Let me put it this way. IMOs who respond to agents asking about commission levels by saying we give "street" or "above street" are being evasive and usually deceptive. That question should only be answered with actual numbers.

There are some companies that have an actual "street" level. But crooked IMOs have abused that term so much that the term is useless to an agent trying to figure out this crazy industry full of traps.

There is no logical reason for a IMO not supplying a prospective agent with accurate commission percentages when he shows interest in working with them other than to take advantage of the agent.

 

[goillini52]

Let me put it this way. IMOs who respond to agents asking about commission levels by saying we give "street" or "above street" are being evasive and usually deceptive. That question should only be answered with actual numbers.

There are some companies that have an actual "street" level. But crooked IMOs have abused that term so much that the term is useless to an agent trying to figure out this crazy industry full of traps.

There is no logical reason for a IMO not supplying a prospective agent with accurate commission percentages when he shows interest in working with them other than to take advantage of the agent.

Do you consider the commission levels you show on your website to be "street"?

 

[Newby]

Do you consider the commission levels you show on your website to be "street"?

Once again "street" is not a meaningful word. How do you figure what commission you made on a case? Do you multiply the annual premium by STREET? Or by the % that is your share?

You can call them any name you want. It doesn't change the math. And it doesn't mislead agents.

One big IMO even calls his the 140 commissions. You figure your part by multiplying the annual premium by .8 but he just calls it the 140. Makes almost as much sense as the word street.

I guess we just call ours the "No man left behind level." Everyone starts the same. And no you don't have to work your way up to the 120% and 125% commission levels. Because we all know that agencies that start them low but require the new agents to struggle to work up to normal levels have WAY more agents fail out before they ever get to our starting levels. New agents need to cash flow fast. And getting their full commission right from the beginning along with good leads and quality training and support are all important parts of them making it past their first year.

So no, we don't call it street.

 

[WinoBlues]

And no you don't have to work your way up to the 120% and 125% commission levels.

I was with you on most of the post. However, the quoted part may give newer people the idea everyone or most of your agents get 100%-125%.

 

[goillini52]

Once again "street" is not a meaningful word. How do you figure what commission you made on a case? Do you multiply the annual premium by STREET? Or by the % that is your share?

You can call them any name you want. It doesn't change the math. And it doesn't mislead agents.

One big IMO even calls his the 140 commissions. You figure your part by multiplying the annual premium by .8 but he just calls it the 140. Makes almost as much sense as the word street.

I guess we just call ours the "No man left behind level." Everyone starts the same. And no you don't have to work your way up to the 120% and 125% commission levels. Because we all know that agencies that start them low but require the new agents to struggle to work up to normal levels have WAY more agents fail out before they ever get to our starting levels. New agents need to cash flow fast. And getting their full commission right from the beginning along with good leads and quality training and support are all important parts of them making it past their first year.

So no, we don't call it street.

So if an IMO offers higher commissions than you show(with no proof of production), does that mean that you're below "street" on some carriers?

 

[rousemark]

Once again "street" is not a meaningful word. How do you figure what commission you made on a case? Do you multiply the annual premium by STREET? Or by the % that is your share?

You can call them any name you want. It doesn't change the math. And it doesn't mislead agents.

One big IMO even calls his the 140 commissions. You figure your part by multiplying the annual premium by .8 but he just calls it the 140. Makes almost as much sense as the word street.

I guess we just call ours the "No man left behind level." Everyone starts the same. And no you don't have to work your way up to the 120% and 125% commission levels. Because we all know that agencies that start them low but require the new agents to struggle to work up to normal levels have WAY more agents fail out before they ever get to our starting levels. New agents need to cash flow fast. And getting their full commission right from the beginning along with good leads and quality training and support are all important parts of them making it past their first year.

So no, we don't call it street.

If everyone starts the same then you could reply, "OUR street is xxx%" That way everybody is happy..

 

[Newby]

I was with you on most of the post. However, the quoted part may give newer people the idea everyone or most of your agents get 100%-125%.

Everyone does get 100% to 125%. Three companies are 125%. One company is 100% the rest are between that. Average is 120%.

Just look at the grid on our website and you see what everyone gets. It's nothing new. I figure we are one of the easiest IMOs for new agents to understand their commissions. But your confusion is concerning me a bit. What could be easier to understand?
Final Expense Commission Levels

 

[Newby]

So if an IMO offers higher commissions than you show(with no proof of production), does that mean that you're below "street" on some carriers?

I don't use the word street. So no. It just means some IMOs are higher than us. Many are lower. And more and more of them just don't really want prospective agents to know what they will be paid at all.

 

[goillini52]

I don't use the word street. So no. It just means some IMOs are higher than us. Many are lower. And more and more of them just don't really want prospective agents to know what they will be paid at all.

I do like that you post your commission levels.