Becoming a State Farm Agent

[masterjodo1]

Hello there,
I am a 25 year old who was proposed an idea from my brother in law who sells insurance. I just moved back home and am planning on taking some prereqs to pursue a Master's in Engineering but in the meantime I need some money.

I was told I can pursue this process of becoming a state farm agent for good fast money. Assuming I get accepted into the agency, I'd go through the 9 month process of learning about the field. This would give me the money I need and I think it could be good to learn what they're teaching (I love learning about everything and have very little knowledge in insurance and sales, so why not). Then when the training is done, my brother in law would be able to work out the one year contract part of the deal as an employee. I would work with him somewhat but he feels able to meet their goals and achieve the bonuses that they offer. Then when the year is over I'd stop working and am told I can sell my agency back to State Farm. Sounded like a great plan, but this forum scared me into not thinking their deal is so easy.

I'm wondering a couple of things:

1. Is their training a worthwhile thing for someone not so sure if they're going into insurance sales for life?
2. Does this whole idea sound possible?
3. During the 1 year as a TICA, is State Farm constantly checking in on me, and if so, is it in person?
4. After the year long contract, is it plausible to get out of the business?
5. Is this crazy?

I know this might not sound right to everybody, but it is giving me a chance to learn and make money, while helping my bro in law continue his insurance pursuits under the State Farm name, and giving State Farm more customers. Just curious. Thanks

 

[Mark]

I thought State Farm didnt really want brand new agents to run their own offices.

 

[STIBROKER]

becoming a state farm agent for good fast money. ............I'd go through the 9 month process of learning about the field. This would give me the money I need and I think it could be good to learn what they're teaching

and how much quick money would that be........

 

[Norwayguy]

Hello there,
I am a 25 year old who was proposed an idea from my brother in law who sells insurance. I just moved back home and am planning on taking some prereqs to pursue a Master's in Engineering but in the meantime I need some money.

I was told I can pursue this process of becoming a state farm agent for good fast money. Assuming I get accepted into the agency, I'd go through the 9 month process of learning about the field. This would give me the money I need and I think it could be good to learn what they're teaching (I love learning about everything and have very little knowledge in insurance and sales, so why not). Then when the training is done, my brother in law would be able to work out the one year contract part of the deal as an employee. I would work with him somewhat but he feels able to meet their goals and achieve the bonuses that they offer. Then when the year is over I'd stop working and am told I can sell my agency back to State Farm. Sounded like a great plan, but this forum scared me into not thinking their deal is so easy.

I'm wondering a couple of things:

1. Is their training a worthwhile thing for someone not so sure if they're going into insurance sales for life?
2. Does this whole idea sound possible?
3. During the 1 year as a TICA, is State Farm constantly checking in on me, and if so, is it in person?
4. After the year long contract, is it plausible to get out of the business?
5. Is this crazy?

I know this might not sound right to everybody, but it is giving me a chance to learn and make money, while helping my bro in law continue his insurance pursuits under the State Farm name, and giving State Farm more customers. Just curious. Thanks

Sell your book of business back to State Farm? What are you smoking...State Farm owns the book of business and if you don't hit your goals not only can't you sell it, you won't even get to keep it because they will take it from you...Show me one agent making money in the first year let alone good money to support a nonexistent agent and a brother-in-law working as an employee...Why doesn't your Brother in law become an agent himself if he is so sure he can make this work...It wouldn't happen to be because then he would be sticking his credit on the line now would it?

 

[wlt3355]

I too, went through the SF recruiting process, and was treated very professional and first class. Myy wife and I both attended through the third process and then decided we did not have enough extra capital (at least an extra $50K) to support ourselves while we went full-time into this business. According to the other agents and their own qualifiers, it normally takes about 5 years to get started correctly, so we declined. I still think given the right circumstances it could be a great deal.

 

[bsteele]

I would try to stay away from state farm or any BOX Company

 

[EricTheRed3275]

Dose a person with no insurance background and only a background is customer service have a chance of working for a place like State Farm?

 

[Mark]

Dose a person with no insurance background and only a background is customer service have a chance of working for a place like State Farm?

Depend on what level you are talking about.

Running your own office or just making copies or what?


Most StateFarms offices wants someone that has been in the business for a long time if they are going to run their own office.

 

[gOrdis]

As long at you've got about 100k laying around to get your office up and running and 2-5 years before turning a serious profit I think it's a great place to start. Ok...a little sarcastic...before moving in that direction you need to talk to half a dozen agents that have started their agencies in the last 5 years and then make your decision. My two cents are they were a great company for the agent two decades ago and they are currently a great company for State Farm.

yep, please talk to a couple of agents. It's a great opportunity but if you don't have the $, it incurs a lot of DEBT and nights of restless sleep. But after 5 years (assuming you make it) I heard it's very rewarding

 

[ryeates1]

scratch agency with any company is extremely difficult. plan on 5 years if you work your but off. as far as state farm goes, they are a high quality company that is hard to beat on the auto and a very high customer loyalty base. they are extremely conservative and have the financials to prove it