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Best Final Expense lead providers?
- Thread starter SpruceBruce
- Start date
- 1,832
The same reason I didn't get a reasonable explanation from the manager for
how that 20-40% is earned or justified. It boils down to being ashamed and embarrassed. Both parties know it doesn't make sense nor can it be rationalized, yet they both continue doing it anyway.
If I were in attendance at one of their recruiting events and all he could come up with was, "We have 3 training calls each week, constant communication, and more.", every agent in the room with any degree of intelligence would get up and leave. I do not believe there exists a single SL agent, captive nor independent, who would publicly admit that 3 training calls each week and constant communication is worth paying 20-40% of their income.
Greg, this statement cannot be true. We don't need your 1099 . All we need to do is to keep you talking and you will eventually contradict yourself.
You previously stated that you make over $100,000 from your agents production. First of all, I think we can all agree that most people who feel the need to publicize their income will round off as close to their actual income as possible, without being specific. In other words, it Is not a stretch of the imagination to assume you don't make $200k, $300k, or more off of them, otherwise we would expect you to have rounded up to those figures. Therefore, let's assume we believe what you told us. Next, you also stated that you have 200 agents, give or take. Now, let's do the math:
It is very easy to determine the average production of each agent to generate $100,000 in override income. For example, if your override is 10%, each agent averages less than $500 per month in production. If your agents are writing $1000 per month, your override would only need to be approx. 5% to generate $120,000. Now, let's assume your average override is 25%. Your 200 agents would only be producing a combined $400,000 annually. Is that not the equivalent of $2000 in annual production per agent?
The higher your override, the less your agents are producing to generate your $100,000 in overrides. Did you grossly understate your override income of only $100,000, or did you grossly understate the number of agents you have?
How can most of your agents be working hard and not wasting time up there if the math suggests they are unsuccessful?
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It's simple. You're assuming all 200 agents write business.10% of the agents do 90% of the production. Most of those 200 agents are brokers, have been on my team for 2 or more months, and have written zero business. I think they must be living off their spouse or credit cards?
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That is exactly my point! Therefore, the statement you made, "Most of these agents are simply working and not wasting time up here", cannot be true. Right?
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Our managers have more exposure to liability. Cosigning so the agent can get leads on credit and then be deducted from advances about 9 days later, chargebacks are not deducted from advances they're deducted from the backend pay thru.
I did a DM drop for 2 agents in western NC about 4 hours from me or my nearest agents. Both agents sounded solid so I stuck my neck out to do a 5000 piece drop. Both agents flaked out on me so I'm going to make a road trip and take care of those leads myself. I got burned a little on this one, but it usually works out for the agent and the manager.
If agents don't like our opportunity no one holds a gun to their head and makes them join us. They join because they feel it's a better fit for them, while other agents (like yourself) feel differently.
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To be more precise in my wording....agents that are writing business are working (the 10%). The non producing agents (90%) are nowhere to be found.
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Yes. $80,292.00 to be exact issued in March. New company wide record at Sr Life. All tele-sales, live transfers Mon-Fri 9am-9pm, and on Sat from 9am to 6pm, and outbound calls on Sun afternoon/evening. Sunday afternoon proves to be a good time to make calls as people pickup there phone almost as good as they did 10 years ago. Try it for yourself.
She had 100% contact with all leads purchased, which is huge, which most agents don't enjoy. She spent zero % of her time chasing/tracking people down...either calling to set appointments or doing door knock drive by's. 100% of her time was spent talking to a lead just a minute or 2 old. And she didn't even have to crank her car up!
I don't take credit for her performance as she did all the heavy lifting. I'm very proud of her. I don't think she's going anywhere else anytime soon. Where else can she get live transfers (TV commercials) 6 days a week and write this volume of business? I'd have to say nowhere else.
And yes JD thank you for allowing me to share this info with the readers up here. Any agents out there that wants to talk about this opportunity is welcome to call me up to 7pm est Mon-Sun. We have the live transferTV leads! Thanks again JD
Okay, the managers have more exposure to liability due to cosigning for leads on credit, which you are saying is the reason for the huge reduction in agent commission (20-40% less than street level). This sounds similar to paying lifetime interest of 20-40% on credit card debt, even after the balance is paid in full.
As an individual with integrity, wouldn't you be doing the agent a better service by encouraging them to get a secured credit card with their first commission check; financing their own leads; and giving them back more of their commission?
This is not about whether or not an agent likes the opportunity nor holding a gun to someone's head. This is about being honest and truthful about the facts.
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