Becoming a State Farm Agent

[gebins]

Re: Best Insurance policy life, car, travel, health- Policy Mantr

market penetration? There are so many state farm agents around here, literally one every half mile or mile or so, in south Austin, I have no clue how they could each have 3 mil on the books. They are not as bad as farmers, though. farmers could have two different agencies in the same strip center around here, then have one more on the next block!!! there's a street in waco with one on every corner for a mile or two!

Farmers agents in my area are falling apart. Then the new agents are just the worst quality of all the captives. Look in the phone book sometime. Farmers agents can make their own ad, and there is really no consistency.

 

[Praeter]

Re: Best Insurance policy life, car, travel, health- Policy Mantr

market penetration? There are so many state farm agents around here, literally one every half mile or mile or so, in south Austin, I have no clue how they could each have 3 mil on the books.

In Jackson, Michigan there are 8 SF agents in roughly a 10 mile radius I believe. It might be a little bigger radius, but still, too many. I was told by my agent that Jackson only had 9% SF penetration so we were looking at a large market.

After quoting internet leads, I would call them to ask for the business only to find out they went with another SF agent. That happened 4 or 5 times. We also had clients of other agents call our office many times looking for help with their policy. Many times they had no clue who their agent was.

 

[vindem]

Interesting! This shows that SF is very careful of agents backgrounds and do not want someone if there is any credit (integrity) issues. I like that although it could make it hard for some people. To me this says they look for quality.

the good credit is for the series 6 and 63 license needed to sell any type of annuites. if your credit is showing monies owed excess of a certain dollar amount, you will have a problem when it comes time to deal with the securities exchange. you can have late payments but cannot be in collections..

 

[Exdpguy]

the good credit is for the series 6 and 63 license needed to sell any type of annuites. .

Just a correction, the 6/63 is NOT needed to sell fixed annuities, at least not in TX.

 

[xrac]

the good credit is for the series 6 and 63 license needed to sell any type of annuites. if your credit is showing monies owed excess of a certain dollar amount, you will have a problem when it comes time to deal with the securities exchange. you can have late payments but cannot be in collections..

You do not need a 6/63 to sell fixed annuities. You need this to sell variable annuities, VUL, mutual funds, REITS, etc.

 

[VolAgent]

You do not need a 6/63 to sell fixed annuities. You need this to sell variable annuities, VUL, mutual funds, REITS, etc.

Most REITS require a 7 actually.

 

[xrac]

Most REITS require a 7 actually.

I stand corrected! First time in my life that I was ever wrong!

 

[VolAgent]

I stand corrected! First time in my life that I was ever wrong!

That is not what your wife told me.

 

[newby22]

so obviously i have been recruited to potentially become a state farm agent..i have read many posts on here describing how it is nearly impossible to make a successful run @ this..i have the potiental of landing a book of business that contains 1500 autos w avg premiums around $610..750 fire w avg premiums of $640..and life and health described as not much there..i have made my business plan and it seems as though i may be able to make this thing work..the area i live in is some-what depressed and rent should be fairly inexpensive and have added substantial $$$'s for marketing and leads..i have read on here i will potentially need 4000 leads a yr to produce what i will need to succeed and meet quota..i have also read that the financial services is a tough nut to crack and they are very strict on this as well..am looking for a little guidance on this one..i have had a tough go on the job front lately and would love the "potential" that state farm seems they could provide down the road..i know many of you have tried this out was well and was curious if you could give me any advice..to me it seems like they have set me up with a book of business to cover costs of doing business and it is up to me to produce sales to make money..appreciate any and all feedback

 

[xrac]

Sounds to me like you have drank the koolaid. Good luck.