A Small Agency ?

@ Todd02..

...$1,000,000 a year in PL premium with Farmers? Bullsh*t.

My 2012 commissions was 242,000. About 40% of that is auto at 10% commission. So about 996,000 auto premium. Then 60% fire which is 20% commission. 2,904,000 makes the rest. About 3.9 million in premium in my books. I just wrote 10,000 today and have Bout 35000 pending for this month. I write on average 80k a Month. Suck it
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I agree that is complete bullsh** there is no way, 99% personal lines and 3.5 years , especially not with farmers.

Btw I'm a farmers agent (yes I know, life mistake)

Just because you are a farmers agent doesn't mean squat. I'm in Texas. We do have higher premiums but I guarantee my marketing technique are superior to yours. Don't ask cause I won't tell
 
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My 2012 commissions was 242,000. About 40% of that is auto at 10% commission. So about 996,000 auto premium. Then 60% fire which is 20% commission. 2,904,000 makes the rest. About 3.9 million in premium in my books. I just wrote 10,000 today and have Bout 35000 pending for this month. I write on average 80k a Month. Suck it
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Just because you are a farmers agent doesn't mean squat. I'm in Texas. We do have higher premiums but I guarantee my marketing technique are superior to yours. Don't ask cause I won't tell

If this is true which I still doubt good for you, farmers in Texas is a hell of a lot different than in VA, especially with all those rate increases Texas just had
 
My 2012 commissions was 242,000. About 40% of that is auto at 10% commission. So about 996,000 auto premium. Then 60% fire which is 20% commission. 2,904,000 makes the rest. About 3.9 million in premium in my books. I just wrote 10,000 today and have Bout 35000 pending for this month. I write on average 80k a Month. Suck it
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Just because you are a farmers agent doesn't mean squat. I'm in Texas. We do have higher premiums but I guarantee my marketing technique are superior to yours. Don't ask cause I won't tell


Fortunately for fact checking BSer's I have many colleagues in upper level management at farmers and a quick google search of "Todd" and "farmers" and "Dallas Fort Worth" points to some pretty obvious clues of who you are. I'll post my findings shortly. If you're writing that much Id say you're the #1 personal lines agent in the world and maybe even the entire solar system. Farmers is focusing on their eastern expansion right now so they're buying business in those states and nobody's doing close to that. Soon we shall see..
 
Fortunately for fact checking BSer's I have many colleagues in upper level management at farmers and a quick google search of "Todd" and "farmers" and "Dallas Fort Worth" points to some pretty obvious clues of who you are. I'll post my findings shortly. If you're writing that much Id say you're the #1 personal lines agent in the world and maybe even the entire solar system. Farmers is focusing on their eastern expansion right now so they're buying business in those states and nobody's doing close to that. Soon we shall see..

I can not wait to see his real numbers ha! I need to know how "superior" his marketing techniques are
 
Lol you boys are pathetic. Yes please do look up my numbers and share as I have. To many little cry babies on here not knowing how to write business. It's called marketing and working. Try it sometime!


I can not wait to see his real numbers ha! I need to know how "superior" his marketing techniques are
 
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@ Todd02....

"My 2012 commissions was 242,000. About 40% of that is auto at 10% commission. So about 996,000 auto premium. Then 60% fire which is 20% commission. 2,904,000 makes the rest. About 3.9 million in premium in my books. I just wrote 10,000 today and have Bout 35000 pending for this month. I write on average 80k a Month. Suck it"

This math doesn't make sense & here's why…
1.) If your book was $3,000,000 (regardless of how long it took to build) your gross commissions would be at least $300,000.
2.) 40% of the gross income of $242,000 is roughly $97,000…now if that's from 10% commissionable auto premium that makes roughly $970,000 of auto premium.
3.) The remaining 60% of that gross income of $242,000 is $145,000. If that's 20% commissionable premium… that makes roughly $700,000 of fire premium.
4.) The addition of the aforementioned premiums equates to roughly $1,670,000 which is a far cry from $3,800,000
5.) This doesn't factor in that some of your income would be bonus money…thus reducing the effective premium base even further
6.) This level of discrepancy is troubling...especially from an agency owner.
 
Yeah I see the error of my explaining it. Should not have gone the overall dividing route as some policies I'm getting paid half commission but the premium they pay is the same. In two years I get full commission.

Go find you "upper" farmers guy and get him to show you the premium coming into my book.

@ Todd02....

"My 2012 commissions was 242,000. About 40% of that is auto at 10% commission. So about 996,000 auto premium. Then 60% fire which is 20% commission. 2,904,000 makes the rest. About 3.9 million in premium in my books. I just wrote 10,000 today and have Bout 35000 pending for this month. I write on average 80k a Month. Suck it"

This math doesn't make sense & here's why…
1.) If your book was $3,000,000 (regardless of how long it took to build) your gross commissions would be at least $300,000.
2.) 40% of the gross income of $242,000 is roughly $97,000…now if that's from 10% commissionable auto premium that makes roughly $970,000 of auto premium.
3.) The remaining 60% of that gross income of $242,000 is $145,000. If that's 20% commissionable premium… that makes roughly $700,000 of fire premium.
4.) The addition of the aforementioned premiums equates to roughly $1,670,000 which is a far cry from $3,800,000
5.) This doesn't factor in that some of your income would be bonus money…thus reducing the effective premium base even further
6.) This level of discrepancy is troubling...especially from an agency owner.
 
I'm on the captive side but my mentor (and the guy that brought me into the business) has since gone IA. Started a scratch agency about a year and a half ago. I know, for a fact, his numbers look like this... The agency is averaging about 40k written premium a month. That's just him and a part time sales/service guy. He himself doubles as sales/service and his wife helps with the service side. Because he is IA and the book is not yet gigantic, his retention if probably pretty high. 97-98%??? This is a 100% personal lines book (maybe he has some tiny commercial autos or something mixed in just to help out his PL clients). He just told me about a week ago that they are the #1 producing agency in their cluster this year. So, 40k a month equals $480,000 written a year @ 97% retention is 465,000. That puts them just shy of a Mil every two years. So if they stay the same, they will hit 3 mil in about six years. That's being conservative though. I would assume that as they grow they will bring on more CSR and Sales staff and probably reach 3 mil in less time. But then they will have more overhead obviously. Now he started a scratch agency but brought a ton of contacts over with him. He has a good pipeline of referrals coming in. So here is an IA, doing pretty well, representing a dozen companies and you are out performing him with a captive book 3 to 1. I'll tell you what, if you give me a piece of that, I'll move to Texas and bust my ass working for you. I could retire in 5 years!!! :twitchy::D:nah:
 
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