VolAgent and I are on the same page with that. Who wants to invest $50-$100K into a business venture along with one year of your life and not even know if you will get a contract or not. That is crazy!
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Becoming a State Farm Agent
- Thread starter shawn17ths
- Start date
- 274
The other problem is you don't own your book of business. I started my scratch independent march of 2012 and am about to hit 1 million in premium. No debt. But I could sell the business for 150k right now and walk away. SF you get nothing. Why rent when you can build and own.
I am new on the forum so I apologize if this has been covered. I recently heard that the success rate for new State Farm agents is around 50%. This is important because recruiters will often state that the rate is above 80%. It probably was that high 10 years ago, but 50% is much more accurate today. I'm not making a judgement on whether 50% is good or bad, but people should know what they are getting into and should not have a false impression about the stats.
- 1,473
Great Job..That is a lot of business in in almost two years. I Sold my Allstate agency this year and Started my IA as well. Not easy transition but with time it gets easier.
The thing about State Farm that I see if they open and office I do not see that office shutting down and closing like Allstate. Allstate new agent sucess is more like %10 out of 10 they hire 9 will drop out in 2-5 years.
Start as a team member and learn the ropes, I currently work in a State Farm Agency, but I choose the become an independet agent and not be a Captive State Farm agent. There is a video out there called "Tica Tim" look at it and it may sound weird but several agents I know say that how they felt when they started, You are on probation for the 1st year and even if you meet your goals, theyt can still not give you the agency, even after spenging so much money in it. Another thing to consider.... You are not the owner of your agency, the book of business is NOT YOURS, when you quit, get fired, die etc, it goes back to SF, you cannot give to anyone or even sell it. Hope you look at the comment from prior SF agents and team mates in here before you "Jump in" I was contacted by a recruiter and actually went to the final interview after several weeks of training and screening, they advised me to get some SF experience. 7 tyears later... I'm choosing to become an independent agent.. My agency, my rules etc and I can leave my kids running it later in life.. Just my .5 cents.
New agents only take the deal because of the SF name and the past success of agents. The trouble is that those agents had a different deal.
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SFAgent2013
New Member
- 2
Can anyone share with me what I can expect during the Panel Interview (Phone Interview now) for SF agent? Types of questions? Difficulty level? Ect? Any help is much appreciated! You can also PM me if you like. Thank you!
- 1,473
Q:
1.Why do you want to be SF agent.
2. Why do you think you will succeed with SF while %80 of our new agent FAIL?
3. How much money do you have in the BANK to spend on the SF agency?
4. How do you plan to Aquire new clients?
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