Agent for a Day, Fool for a...

[Upward]

Hi Everyone,

I am a big fan of the site and have learned a lot lurking and searching the past few weeks. I just got my license and signed with IMO today because I was told they are the company "we" write business through.

I am quickly getting buyers remorse because they didn't have many of the carriers I expected to see. Coming from a different industry, I thought I would be an independent agent but that doesn't seem to be the case at all. I didn't even research the co. because I trust the people who are getting me set up and I didn't know that I had to.

I still trust them but they just do mortgage protection and final expense without thinking twice. I am crazy interested in high cash value WL, read several books and did a ton of online research. It checks all the boxes for me as a real estate investor. It will be my niche. I felt like I spoke a different language when I talked to other agents about my own personal plan to use WL as an asset.

Should I learn the ropes and sell cookie cutter policies through this IMO or try to learn and write business on my own? I am so lost and confused and not sure how to get on the path where my passion and interests merge.

Thanks to all, hope I can contribute to the forums instead of pleading for help moving forward!

BC

 

[rousemark]

Hi Everyone,

I am a big fan of the site and have learned a lot lurking and searching the past few weeks. I just got my license and signed with IMO today because I was told they are the company "we" write business through.

I am quickly getting buyers remorse because they didn't have many of the carriers I expected to see. Coming from a different industry, I thought I would be an independent agent but that doesn't seem to be the case at all. I didn't even research the co. because I trust the people who are getting me set up and I didn't know that I had to.

I still trust them but they just do mortgage protection and final expense without thinking twice. I am crazy interested in high cash value WL, read several books and did a ton of online research. It checks all the boxes for me as a real estate investor. It will be my niche. I felt like I spoke a different language when I talked to other agents about my own personal plan to use WL as an asset.

Should I learn the ropes and sell cookie cutter policies through this IMO or try to learn and write business on my own? I am so lost and confused and not sure how to get on the path where my passion and interests merge.

Thanks to all, hope I can contribute to the forums instead of pleading for help moving forward!

BC

Unless they are captive pick up the other companies you want through another IMO.. As an independent you can use as many companies and IMOs as you want.

 

[Upward]

Thanks rousemark, I asked about contracting with carriers directly and was told that only occurs when you work for the carrier. This didn't seem accurate.

I was told I would be more like an independent broker (somewhat true bc I can sell from a list of carriers) as opposed to a captive State Farm life agent for example. But I absolutely cannot pick up companies through another IMO.

They will provide hands on training to get me started so that is great but I really wanted to learn by blending and selling myself a policy first before catering to a niche market. I just don't know if I should take the training to learn enough until I feel I can branch off on my own.

I appreciate the response, all the best!

 

[rousemark]

Thanks rousemark, I asked about contracting with carriers directly and was told that only occurs when you work for the carrier. This didn't seem accurate.

I was told I would be more like an independent broker (somewhat true bc I can sell from a list of carriers) as opposed to a captive State Farm life agent for example. But I absolutely cannot pick up companies through another IMO.

They will provide hands on training to get me started so that is great but I really wanted to learn by blending and selling myself a policy first before catering to a niche market. I just don't know if I should take the training to learn enough until I feel I can branch off on my own.

I appreciate the response, all the best!

Many carriers will contract direct with your being captive. Some carriers require you to go through an IMO but you are still not captive..

 

[somarco]

If an agency/IMO is providing a lot of support (training, "free leads", commission advance, etc) they will certainly do everything they can to control every aspect of your business. It's the "My way or the highway" approach to management.

 

[Upward]

Hi somarco, they do provide the training but free leads and full commissions are not a part of their approach. It is what it is at the moment... Do you think I should accept the above in order to get the training?

 

[Rob Lion]

Thanks rousemark, I asked about contracting with carriers directly and was told that only occurs when you work for the carrier. This didn't seem accurate.

I was told I would be more like an independent broker (somewhat true bc I can sell from a list of carriers) as opposed to a captive State Farm life agent for example. But I absolutely cannot pick up companies through another IMO.

They will provide hands on training to get me started so that is great but I really wanted to learn by blending and selling myself a policy first before catering to a niche market. I just don't know if I should take the training to learn enough until I feel I can branch off on my own.

I appreciate the response, all the best!

Just tell us what IMO you are with so we can tell you if you should run or not.

 

[Todd King]

Hi somarco, they do provide the training but free leads and full commissions are not a part of their approach. It is what it is at the moment... Do you think I should accept the above in order to get the training?

Sounds like NAA or one of their offshoots.

 

[Upward]

Haha, yes you guys are sharp! I searched the forums for reviews and discovered it is an offshoot of NAA. I didn't want to be too specific so as not to disparage a company I have no working experience with yet.

 

[goillini52]

Haha, yes you guys are sharp! I searched the forums for reviews and discovered it is an offshoot of NAA. I didn't want to be too specific so as not to disparage a company I have no working experience with yet.

Don't worry...we'll do that for you.