Best Agency For Real Estate Office

[KayInsure90]

Hello,

I work in a real estate office in upstate (way upstate, like almost in Canada) NY and we are trying to set up a relationship with a insurance agency. The broker is sending me to get my insurance licenses for NY state, because I am the only one with the time to get them. We were approached by Allstate and we were going to go with them because they said we could set up a corporation with my boss as the owner and me as the insurance broker. It looked like a good deal, but I don't think that Allstate would best serve our clients. They don't have allot of commercial policies and we have quite a few commercial clients. We have tried to contact Nationwide because they offer a greater variety of policies, but have yet to hear back. When my boss called the local area recruiter he didn't seem to know what we were talking about.
We really like what Nationwide has to offer but we need more info on what there training programs are like and there commission rates. I'm just looking for info on Nationwide and what they are like to work with.


Thanks

 

[djs]

I'm confused. I think what you really want to do is setup a relationship with an insurance agency, just like you said. Avoid talking to carrier recruiters, they understand what you are trying to do and probably have little interest in it (to many conflicts of interest).

If I understand your goal, you simply want to be able to make a little extra money writing the policies for your clients, and perhaps a few others. You are not trying to become a full time insurance agent (correct me if I'm wrong).

By working through an existing agency (rather than a carrier), you will avoid a lot of headaches and expenses that will be hard to overcome with a small book of business. The agency will hand hold you through any issues and concerns, as well as watch over your shoulder to make sure things are done correctly. In the end, they will split the commissions with you.

Call 5 local agents, see who gives you the best deal and can handle the business of your current clients. If they don't return phone calls, move on.

The agents you talk to will help walk you through this and help structure something with you. Some will offer to take care of all the business, and still perhaps if you are licensed, to provide a commission share. Others will offer co-marketing programs, someone will set you up as an agency producer.

If I was licensed in New York, I'd give you more advice. I'm not....

Dan

 

[thespur1]

hi,
im in upstate ny and work for an insurance company we cover all the way up to canada...
let me know if i could be any sort of help for you
i am not a broker or recruiter so no conflict of interest.
glad to finally see somebody from ny here

 

[KayInsure90]

I want to become a full time insurance agent. I am not a real estate agent but I currently work for one. We have already consulted our attorney and there is no conflict of interest. I just don't have the funds to open my own office but my real estate broker is the one providing the funds and would be the owner while I would be the broker of the Insurance office. Allstate said there would be no problem in doing it that way because my boss does not have the time to do the schooling. I just don't like what I'm hearing about Allstate and thought Nationwide would be a better choice cause they offer so much more. We are just having trouble getting in contact with a Nationwide representative.

 

[moonlightandmargaritas]

Allstate said there would be no problem in doing it that way because my boss does not have the time to do the schooling.

Allstate will not contract with, and appoint an agent without resident insurance licenses.

They can have a producer like you, but they've still got to be licensed.

 

[KayInsure90]

yup I know I am going to be licenses my boss is just providing the funds.