I noticed in my area SF agents are everywhere. 2 agents are within 1 or 2 blocks (I believe they were split book from previous book of business). A third about 2 miles down the road, and a 4th and 5th coming off a split book of retiring agent not too much further down. The road. 9 listed in local area phonebook--small population. I don't see how they can make it. Seem overrated
Becoming a State Farm Agent
- Thread starter shawn17ths
- Start date
My friend just opened up a SF office with split biz. It's only his second month but he is kicking ass.
nasfa com
Nothing is free, it will cost you $100K-$150K to get your permanent contract on year 2. I was a prudential agent with an MBA and saleman for 20 years in my own business.
Unless you like or capable of selling 90 life policies a year, think it through. You have to be superhuman and work 70 hours during you internship and 1 year to get/buy that carrot contract. If you read the above like and call the lead counsel, you will run like a raped ape and get a real w-2 job.
This put me in debt $100K debt, 2 years of isolation from my familiy and ultimately cost me my home and divorce. Because was an additional intern with a toxic book and 35 senior agent my colleagues raped my book.
Like a good neighbor they will screw you and your family!!
Nothing is free, it will cost you $100K-$150K to get your permanent contract on year 2. I was a prudential agent with an MBA and saleman for 20 years in my own business.
Unless you like or capable of selling 90 life policies a year, think it through. You have to be superhuman and work 70 hours during you internship and 1 year to get/buy that carrot contract. If you read the above like and call the lead counsel, you will run like a raped ape and get a real w-2 job.
This put me in debt $100K debt, 2 years of isolation from my familiy and ultimately cost me my home and divorce. Because was an additional intern with a toxic book and 35 senior agent my colleagues raped my book.
Like a good neighbor they will screw you and your family!!
Just for the record, I personally know 5 State Farm agents that have started within the last 6 years, all on the AA05 contract, and they are all doing well. I'm not trying to discard those of you that haven't done well, just trying to provide a different perspective. By doing well, their agency's are growing and they have not gone into debt in order to be successful. They have/had a good business plan and made good business decisions.
Not saying State Farm is the best opportunity or that captive is better than indy, just saying it is possible to be successful in the State Farm model.
Not saying State Farm is the best opportunity or that captive is better than indy, just saying it is possible to be successful in the State Farm model.
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Read this before choosing to become an agent of the farm:
"Deception of a Captive Insurance Dream"
https://www.linkedin.com/pulse/deception-captive-insurance-dream-len-perroots
"Deception of a Captive Insurance Dream"
https://www.linkedin.com/pulse/deception-captive-insurance-dream-len-perroots
don't want you to feel bad for me like I said I have done well. The whole premise of the conversation was being a state farm agent today. Things keep getting worse for agents and the company keeps treating them worse. Look at my contract compared to yours what do you think the next one will look like. with all the money the company is making you would think they would give something back but goals keep going up. You said some of what i said was true I am wondering what i said that is not.
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10 years ago it wasn't like this but now it is this is very true
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10 years ago it wasn't like this but now it is this is very true
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as I said I have been successful not complaining about how state farm was but how it is now. this is about the current opportunity. SF has changed that was the point of my post. Used to be a great opportunity now not so much. You also said some of what I said was true what wasn't
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thats great and I hope he makes it but its a whole lot harder than it used to be. and he has to do it for 5 years before he sees anything. Takes so long now to make money and if you do something wrong they will fire you and if you die or leave everything you have invested in they take away. Captive agency is tough.
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sonny i talk to agents daily unless you are in a high premium area it is impossible to make money and be a producer in your first five years. you sound like you are SF management. No way you know 5 sf agents in their first years and they are all doing great and making money. NOT POSSIBLE
Oh believe me, I knew he would be a great Indy Agent and he would make a lot of money. But he wanted to go the SF route. It is what it is. Could he have made more $ with SF 10 years ago? Yeah but he didn't have the opportunity.
He was worried about hitting his 80 life policies in the first year goal. In under 2 months he has 40 already.
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I can only imagine in Florida it being harder with a limited homeowners market, if any at all.
My opinion is anyone who would read this thread from start to finish would come to the objective conclusion to steer clear of the SF opportunity. My opinion is the only ones who would suggest otherwise are unaware of how much the SF contract has changed. Either that or they SF management or someone who has already drank the SF koolaid and are only seeking confirmation not facts.
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