9 Commission levels?

[WinoBlues]

But your confusion is concerning me a bit.

Not confused and I know you post your grid. I was saying a new person would think thinks that everyone gets 120% and up. Hell, I even mistyped it. New agents have very selective vision. The new agent that has been posting recently about IMO's keeping 50% of her comp as an example.

Personally a few points one way or another are not the deciding points for me. Same with the whole 'price is king' thing.

Again, I know you are up front with your comp grid.

 

[Tahoe Ray]

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

For what type of product? Disability insurance? Medicare advantage? We all know that you do FE but in a random forum with a random OP, these percentages are really misleading because they don't apply. That is why a lot of product lines have an actual "street" percentage that most new agents are appointed at unless there are other circumstances.

I know there are a lot of shady operators in our industry but in my experience (and in my product lines), most IMOs offer basically the same comp. That's what we call "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 shouldn't multiply anything by the annual premium because again, that depends on product line. So you're at 85% with AIG's IUL (which is what THEY call Agent STREET MAX) and you write a fully funded policy for 12k/yr. You get a commission of 4k. Did you get screwed? Nope, you're still at 85% but it's based off of target.

Again, I'm not trying to beat you up but the way you describe things can be very misleading to other folks that aren't in the final expense market/forum.

 

[Newby]

For what type of product? Disability insurance? Medicare advantage? We all know that you do FE but in a random forum with a random OP, these percentages are really misleading because they don't apply. That is why a lot of product lines have an actual "street" percentage that most new agents are appointed at unless there are other circumstances.

I know there are a lot of shady operators in our industry but in my experience (and in my product lines), most IMOs offer basically the same comp. That's what we call "street".



You shouldn't multiply anything by the annual premium because again, that depends on product line. So you're at 85% with AIG's IUL (which is what THEY call Agent STREET MAX) and you write a fully funded policy for 12k/yr. You get a commission of 4k. Did you get screwed? Nope, you're still at 85% but it's based off of target.

Again, I'm not trying to beat you up but the way you describe things can be very misleading to other folks that aren't in the final expense market/forum.

Yes I agree that my examples are FE. But my message never changes. Get NUMBERS not names or terms from multiple FMOs/IMOs/Agencies. Just because it might be easier to find more consistency in some product lines it's not totally consistent with any of them.

The same IMO that does the shadiest BS on their recruiting pitches (the 140 but not really guys) also recruit for term, UL, annuities, Medicare, etc. Do you think they are just trying to deceive agents on the FE side of things? I doubt it.

 

[Tahoe Ray]

Yes I agree that my examples are FE. But my message never changes. Get NUMBERS not names or terms from multiple FMOs/IMOs/Agencies. Just because it might be easier to find more consistency in some product lines it's not totally consistent with any of them.

The same IMO that does the shadiest BS on their recruiting pitches (the 140 but not really guys) also recruit for term, UL, annuities, Medicare, etc. Do you think they are just trying to deceive agents on the FE side of things? I doubt it.

I agree with getting the numbers (contracts) no matter what. I'm just saying there are widely accepted numbers that are considered "street", especially in other product lines.

Those "140 guys" are definitely not leading with annuity recruiting, because they would be outed in a hot minute for screwing agents.

 

[Todd King]

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.

You know we've been round and round on this. Can you name me one other IMO that thinks like you on this? If so, then maybe you won't be the lone wolf calling foul on this. I just feel like this is a fight that is futile for you and while you're trying to get your message out there, you're kicking some others right in the nads!

When speaking generically, we use the term "street". Works well for us in the moment. Now, later on, when the agent says they are ready to do a contract, we will send them the commission schedules before they do any contracting. Once again, works for us and you well know we're not being evasive or deceptive.

Does it really matter that other places have bastardized the term or not? Isn't it more of what you do with it that counts?

While I understand your commitment to this idea, isn't it about time to give up the sermons? You're the only one preaching about it. And, when you do preach about it you lump all other IMO/FMOs into your conversation whether you intend to or not.

 

[goillini52]

while you're trying to get your message out there, you're kicking some others right in the nads!

Kicking people in the nads...Newtering...when Newby's around, you'd better wear a cup.

 

[Newby]

You know we've been round and round on this. Can you name me one other IMO that thinks like you on this? If so, then maybe you won't be the lone wolf calling foul on this. I just feel like this is a fight that is futile for you and while you're trying to get your message out there, you're kicking some others right in the nads!

When speaking generically, we use the term "street". Works well for us in the moment. Now, later on, when the agent says they are ready to do a contract, we will send them the commission schedules before they do any contracting. Once again, works for us and you well know we're not being evasive or deceptive.

Does it really matter that other places have bastardized the term or not? Isn't it more of what you do with it that counts?

While I understand your commitment to this idea, isn't it about time to give up the sermons? You're the only one preaching about it. And, when you do preach about it you lump all other IMO/FMOs into your conversation whether you intend to or not.

I just think it's a common practice that should not be used. Yes I think you are fair. But an agent that just heard of you for the first time doesn't know whether you're fair or not. And he shouldn't have to get to the point that he's ready to sign a contract before he gets a copy of the commission levels.
i'm not really as concerned with how IMOs think it should be done. I'm more focused with her agents think it should be done. And I bet if you ask 100 agents whether they would prefer to have exact commission grids in writing early in the conversation or just to be told that you'll treat them fairly or Street Level that 100 out of 100 prefer the numbers.

 

[rousemark]

I just think it's a common practice that should not be used. Yes I think you are fair. But an agent that just heard of you for the first time doesn't know whether you're fair or not. And he shouldn't have to get to the point that he's ready to sign a contract before he gets a copy of the commission levels.
i'm not really as concerned with how IMOs think it should be done. I'm more focused with her agents think it should be done. And I bet if you ask 100 agents whether they would prefer to have exact commission grids in writing early in the conversation or just to be told that you'll treat them fairly or Street Level that 100 out of 100 prefer the numbers.

Well, I can only speak for myself but very early in the conversation, probably long before the decision is made to contract, I am going to ask what the commission rates are.. If the IMO beats around the bush about providing the exact amounts, then it is goodbye time..

 

[goillini52]

And I bet if you ask 100 agents whether they would prefer to have exact commission grids in writing early in the conversation or just to be told that you'll treat them fairly or Street Level that 100 out of 100 prefer the numbers.

No need to let them beat around the bush. I just say, "do you have (insert carrier) and what do you offer?" If I've gotten a better offer, I say so. Many will match or beat.

For a new agent that doesn't know any better, your grid gives them an idea of what "street" is.....for some FE carriers.

I know Jose's in your downline and he posts commissions like you do. He's got the best commission for Settlers I've seen in a while. Can you you match it?

 

[WinoBlues]

Well, I can only speak for myself but very early in the conversation, probably long before the decision is made to contract, I am going to ask what the commission rates are.. If the IMO beats around the bush about providing the exact amounts, then it is goodbye time..

Yup. That and I am not doing the 'you make an offer, I counter, then you counter' bs. What can you offer? Sounds good or thanks for your time.