Best Location for P&C Agency

[secondcreek]

For those of you who have a P&C agency what type of location would be the best spot to open an office--in a busy retail shopping center near a Target, in the business section of town near the mortgage companies, across the street from the largest real estate office in town, etc.

My gut instinct is some out of the way office in an office complex that serves purely as a functional work space.

I have spoken with two agents. One said he hates walk-ins and writes very little of them. The other said he gets just enough business from walk ins to justify paying a higher rent to be in a busy shopping center.

 

[Smart marketer]

Walk in business is crap generally. Even if you break even in more commission to justify the rent. You are waisting time. Time is money!

I like preferred clients. They will always be what makes you the most successful. Preferred clients just down walk in to your office after they get a gallon of milk at the store next door.

 

[xrac]

I would keep my overhead as low as practically possible.

 

[Vikings28]

realistically you just want to make sure your agency is in a convenient place for customers. you want to make sure it is easily accessible should they have to come down. you also want to make sure that you're comfortable in the office because you're going to be spending the most time there

 

[b61mack]

I think a free standing, hwy location would be best. Not so much for foot traffic, but for exposure. But you have to go with what you can afford. Just my opinion.

 

[Guest]

For those of you who have a P&C agency what type of location would be the best spot to open an office--in a busy retail shopping center near a Target, in the business section of town near the mortgage companies, across the street from the largest real estate office in town, etc.

My gut instinct is some out of the way office in an office complex that serves purely as a functional work space.

I have spoken with two agents. One said he hates walk-ins and writes very little of them. The other said he gets just enough business from walk ins to justify paying a higher rent to be in a busy shopping center.

My agency is in a strip mall in town. I like our location because our town (about 20k people) has a four lane main highway that runs through it. If you come in from the south, we are the first insurance place that you see as you drive in, which most traffic comes from the south.

As another poster said, walk in traffic is pretty much garbage. The people that walk in, generally, are people that just need insurance to get their tags and they let it lapse after the initial premium.

The business that I write that I don't go find myself is generally people who call for a quote and found me in the yellow pages. But again, if they are calling for rates they are usually a price shopper and won't be on the books too long because they are strictly a low price buyer. There is always going to be another company with lower rates than you, so you have to build your book without regard to price. Focus on service and constant contact with your customers. The better you get to know them the harder they will find it to leave you willy nilly.

 

[iiinycboi]

i would like to say, an office is not really necessary. serious 95% of my walk in wastes 80% of my time for LESS than 20% income.

most of my GOOD clients, i went out to their business to meet them.


BUT i think realtor space, car dealership, or cpa firm. depends what you want to focus on

 

[agentinnc]

in the past retail office space was everyone was shooting for. (especially for a name brand carrier) the thought was the less visibility the more in marketing spend.. but now with the advent of internet leads, class A office space could be more economically viable..but i believe you have to have a [decent] location for the service work with P&C