Agency Fees, do you charge them?

[chabat124]

Agency Fees, do you charge them?

 

[David C]

I'm not sure if I do or not.

 

[Crabcake Johnny]

What would the fees be for?

 

[CHUMPS FROM OXFORD]

I have never charged a penny in 27 years.

Kind of a strange first post...

 

[tommyk]

I have heard of some agencies charging fees to independent agents that work out of their office. They say it helps offset the rent, utilities, phones, etc. I don't know what else they would even think about charging....I had an agency that wanted 30% of the commission for what I did and the more I did the large percentage of they wanted up to 50%...needless to say...just could not do that...I was always told the more you did the bigger piece of the pie you got...anyway: "that's all I got to say about that"

 

[JRoot]

I charge broker fees to certain P/C clients. I.E. Contractors who need additional insured certs issued throughout the year.

I've never charged a fee for life/health.

 

[CHUMPS FROM OXFORD]

Oh. I thought the question pertained to fees that the Agency charged the customer.

 

[Sam]

I think it is pretty common on small p&c policies, to build in a small agency fee. Lets say someone flips cheap houses, and they take out a policy with total premiums of $400 and they will probably cancel within a few months. If you don't charge a fee, then you can lose money, or just make 20 bucks on the policy, so they build in a $50 fee for their work.

 

[WBunch]

That sounds resonable...As for Life, I do not charge fees but investments I have a fee structure. And for the agents in the office, they do share in the office expenses for phone, internet, copier toner, and printer ink. They dont mind b/c they are not charged rent..which could be worse..

 

[midwestbroker]

I know an agency that charges for office space, but that is more like sub leasing then fees in my mind.

But then again, in my mind a lot of things are different.