- 5,309
Countrytown Laydown, USA.
I ran leads in rural NE AL and it was some of the most difficult leads I've ever worked.
I ran leads in rural NE AL and it was some of the most difficult leads I've ever worked.
Best Route to Take. ...
- Thread starter bboman23
- Start date
Thanks all good DON,
First, don't be afraid of the higher end clientele. They buy too. Everyone has someone in his/her family that they know is under-insured as far as final expense goes. Nowadays, its the younger generation burying the older ones (90 years +). Grandchildren, nieces and nephews, etc. are burying family because those (decedents) have outlived everyone else; or their own children and siblings are old too.
As far as the "poor" people go, I enjoying dealing with most of them, and they buy, but every one, Tom, Dick, Harry, and Harry's brother-in-law has called on them, usually to some degree of success. Spending a lot of time and money on people who CAN'T buy or WON'T buy never made sense to me....
Second, if you want to offer annuities (or work with someone who does), medicare supp, and traditional life products, you need younger people with money to sell to. The problem is that these people do not often respond the SS mailer, or the "gov benefit" mailer. This where you have to do your research. I can order custom, or go generic in about a week. Some mailhouses, using the GOVT mailer, may process and mail out within a week. It takes on average 2-3 weeks for responses. Not everyone you call on is available, then when you do meet them, they put you off, etc. It takes about six weeks from start to finish on any one mailing to realize anything substantial. It is only then that you where you stand investment wise.
Now, if you are as-earned, have plenty of money in the bank to live on. If you take 3- 6 month advances on a carrier you have at least 90% contract with, [some carriers may offer 120%, but its rarely that high on ALL the products. In Fact, you may find the only product selling with that carrier only pays 75%] you will begin to see an income stream right away, at least to cover your costs. But if you find a client who needs something you don't have (GI for instance) and have to wait for contracting, then it's tedious to say the least.
That is why having the right product mix is paramount. Note that the more sophisticated folks like names and A ratings (they won't quibble over A- or A+ and couldn't give a crap less). So well-known reputable companies with good ratings and rates are a must, but that goes without saying in any market.
Finally, I would test market different areas closer than 1.5 hours away unless you plan to "live out of" that area for a couple of months. By that I mean, you may want to spend a night or two during the week and not call on other areas until you finish a round/run there. I don't know your market. Is traffic bad? Are you near Newark (Nuwuuhk)? New York (Neyuuhrk)? Went to school in NY, never could figure out what a Neyuuhrk was
First, don't be afraid of the higher end clientele. They buy too. Everyone has someone in his/her family that they know is under-insured as far as final expense goes. Nowadays, its the younger generation burying the older ones (90 years +). Grandchildren, nieces and nephews, etc. are burying family because those (decedents) have outlived everyone else; or their own children and siblings are old too.
As far as the "poor" people go, I enjoying dealing with most of them, and they buy, but every one, Tom, Dick, Harry, and Harry's brother-in-law has called on them, usually to some degree of success. Spending a lot of time and money on people who CAN'T buy or WON'T buy never made sense to me....
Second, if you want to offer annuities (or work with someone who does), medicare supp, and traditional life products, you need younger people with money to sell to. The problem is that these people do not often respond the SS mailer, or the "gov benefit" mailer. This where you have to do your research. I can order custom, or go generic in about a week. Some mailhouses, using the GOVT mailer, may process and mail out within a week. It takes on average 2-3 weeks for responses. Not everyone you call on is available, then when you do meet them, they put you off, etc. It takes about six weeks from start to finish on any one mailing to realize anything substantial. It is only then that you where you stand investment wise.
Now, if you are as-earned, have plenty of money in the bank to live on. If you take 3- 6 month advances on a carrier you have at least 90% contract with, [some carriers may offer 120%, but its rarely that high on ALL the products. In Fact, you may find the only product selling with that carrier only pays 75%] you will begin to see an income stream right away, at least to cover your costs. But if you find a client who needs something you don't have (GI for instance) and have to wait for contracting, then it's tedious to say the least.
That is why having the right product mix is paramount. Note that the more sophisticated folks like names and A ratings (they won't quibble over A- or A+ and couldn't give a crap less). So well-known reputable companies with good ratings and rates are a must, but that goes without saying in any market.
Finally, I would test market different areas closer than 1.5 hours away unless you plan to "live out of" that area for a couple of months. By that I mean, you may want to spend a night or two during the week and not call on other areas until you finish a round/run there. I don't know your market. Is traffic bad? Are you near Newark (Nuwuuhk)? New York (Neyuuhrk)? Went to school in NY, never could figure out what a Neyuuhrk was
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In response to your question. I was driving thru a county, and got a flat. So I stopped in a little diner, on the main highway. I studied the patrons and staff.
Then I picked up a real estate publication. It had homes from the area, and their prices. Next step was to research the zip code and demographics. I used Wikipedia for goodness sakes. The medium income was 35,000 . The homes are modest or run down. The main hwy has mostly stand alone commercial businesses and farm stands. Couple of old bars too. Modest environment.
Then I picked up a real estate publication. It had homes from the area, and their prices. Next step was to research the zip code and demographics. I used Wikipedia for goodness sakes. The medium income was 35,000 . The homes are modest or run down. The main hwy has mostly stand alone commercial businesses and farm stands. Couple of old bars too. Modest environment.
I think the other post about "lay downs" may have referred to people primed and ready to buy. He rode with the manager and found this phenom, so I am assuming they were old leads someone had already met, persuaded to give another appointment, or fresh leads and had been pre-qualified over the phone or something. That is typical of recruiters to break in a new agent with someone ready to buy. It gives them a sale and confidence, right off. Not sure -just inferred it from the statements..
Re: I have a nice mix here . I live near Atlantic City NJ.
Fortunately, I have gotten my ass handed to me by Old Italian homeowners,from Brooklyn NY , who do not believe in Life Ins. 25 yrs later I am selling to there kids, the baby boomers . As we know!they waited too long to buy. Most own a property or two, and want to leave it to their kids to live in or sell. So, I and others, recognize the opportunity.My
challenge is going to be managing my time and keeping an eye on ROI. The advice given, on this forum, is invaluable.
Fortunately, I have gotten my ass handed to me by Old Italian homeowners,from Brooklyn NY , who do not believe in Life Ins. 25 yrs later I am selling to there kids, the baby boomers . As we know!they waited too long to buy. Most own a property or two, and want to leave it to their kids to live in or sell. So, I and others, recognize the opportunity.My
challenge is going to be managing my time and keeping an eye on ROI. The advice given, on this forum, is invaluable.Re: I have a nice mix here . I live near Atlantic City NJ.
Oh yes I love those Italians. I used to help out an Italian funeral home on occasion upstate. I gained 30 pounds!
Fortunately, I have gotten my ass handed to me by Old Italian homeowners,from Brooklyn NY , who do not believe in Life Ins. 25 yrs later I am selling to there kids, the baby boomers . As we know!they waited too long to buy. Most own a property or two, and want to leave it to their kids to live in or sell. So, I and others, recognize the opportunity.My
Oh yes I love those Italians. I used to help out an Italian funeral home on occasion upstate. I gained 30 pounds!
You have identified a "target market" but that doesn't mean they are going to be waiting on your with checkbook in hand when you knock on the door (which essentially is the definition of a "lay down") They may or may not be more receptive than the market you have been working.. As Rearden said, some rural, modest income areas can be hard-nosed . At eh same time some urban/suburban areas are very receptive.. Unfortunately, the only real way to find which category an area falls in is to work it.In response to your question. I was driving thru a county, and got a flat. So I stopped in a little diner, on the main highway. I studied the patrons and staff.
Then I picked up a real estate publication. It had homes from the area, and their prices. Next step was to research the zip code and demographics. I used Wikipedia for goodness sakes. The medium income was 35,000 . The homes are modest or run down. The main hwy has mostly stand alone commercial businesses and farm stands. Couple of old bars too. Modest environment.
Yes I stand corrected. It's a target market. Now you have me rethinking the DM.
I read a book on 4 walls marketing. I keep getting tripped up with FE agents advice, about going after a certain type of client. There all suspects. Keep my traveling to a minimum and work, right here in town. There are 100,000 people living here. 30 % are seniors. They have most of the money. They move here from up North NJ. Retire in the senior communities and love the convenience of the many medical facilities. They are surrounded by families and businesses too.
The freaking medical supplement Part D alone is an excellent opportunity. I am going to work a formal business plan. Need some help on that one for sure. Reinvest the commissions is great advice....
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Rouse is the Guru for a reason.
I read a book on 4 walls marketing. I keep getting tripped up with FE agents advice, about going after a certain type of client. There all suspects. Keep my traveling to a minimum and work, right here in town. There are 100,000 people living here. 30 % are seniors. They have most of the money. They move here from up North NJ. Retire in the senior communities and love the convenience of the many medical facilities. They are surrounded by families and businesses too.
The freaking medical supplement Part D alone is an excellent opportunity. I am going to work a formal business plan. Need some help on that one for sure. Reinvest the commissions is great advice....
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True. Rousemark says a lot more in fewer words than I do. I ramble
Rouse is the Guru for a reason.
Yes I stand corrected. It's a target market. Now you have me rethinking the DM.
I read a book on 4 walls marketing. I keep getting tripped up with FE agents advice, about going after a certain type of client. There all suspects. Keep my traveling to a minimum and work, right here in town. There are 100,000 people living here. 30 % are seniors. They have most of the money. They move here from up North NJ. Retire in the senior communities and love the convenience of the many medical facilities. They are surrounded by families and businesses too.
The freaking medical supplement Part D alone is an excellent opportunity. I am going to work a formal business plan. Need some help on that one for sure. Reinvest the commissions is great advice....
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Re-investing as opposed to putting out several thousand dollars all at once is what most agents would tell you . I had directed that to the poster who mentioned the 10K investment..
Always trust your own observations. If you fell that the 100,000 folks there are over worked with agents, then by all means move on. My only concern is that you and other agents (myself included) tend to take a sampling of a population and assign an expected behavior: "these people, those people, that end of town", etc. Stereotypes prove truer with more results, but don't discount an area or plan of action based on a few bad results.
I was simply suggesting a look at an alternative to the taxing extreme - 1-2 hours out. Maybe you could find some good places little closer than that. With that said, take Rousemark's advice and go work it. Best of luck.
Rouse is the Guru for a reason.
Yep. I am sure he has been there and done that too.
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