Burned out Mortgage Banker Thinking of a New Career

Apr 26, 2008

  1. ScotinOH
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    ScotinOH Expert

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    I'm a new member, this is my first post. This forum is great!

    I've been in Financial Services for about 15 years. Most of that has been as a mortgage loan originator. I'm considering a switch to insurance.

    Is there anyone else that has made the transition from mortgage banking that can share their experience? Specifically, Strategies for prospecting past mortgage clients? How did you prospect old Realtor network for new P&C insurance biz.

    Also, I'm meeting with AmFam on Monday. I've seen a lot of info on the forum about other companies, but little on AmFam. Can anyone tell about how their start up at AmFam went.

    Thank you!
     
    ScotinOH, Apr 26, 2008
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  2. CHUMPS FROM OXFORD
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    CHUMPS FROM OXFORD Guru

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    Hi Scot

    I'm located about 10 minutes from you. I don't know much about AmFam in this area. A lot of State Farm agents though.
     
  3. moonlightandmargaritas
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    moonlightandmargaritas Guru

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    Welcome to the forum. Here's a "reality check"...

    Due to the current state of the real estate market, the landscape is littered with mortgage brokers wanting to do insurance...

    Most (not all) don't make it - they're used to the "big score" of mortgages. Insurance (especially P&C) is "little scores", or "get rich slow".

    Lemme ask you this...why would your old mortgage clients want to do business with you when they know you have zero experience/background/credibility in insurance? Realtors might, they understand cuz they're dying too...

    Come to think of it - you better get in the business before your realtor network does!

    Bon chance in your future endeavors.
     
  4. theinuranceguy
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    Hello Scot,

    Like Chumps I am right up the highway from you... You know the Wayne Warriors that always kick Centervilles Elk Butt... Ya, Dont hold it against me, lol...

    I am not familiar with AmFamily here in dayton, I am sure they are good, but I would aslo consider going to interview with an independent agency...

    I wish you the best of luck, and Im sure Chumps, like I, would love to tell you what niche we are in and how we get in front of people
     
  5. CHUMPS FROM OXFORD
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    CHUMPS FROM OXFORD Guru

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    Yea...those Warriors are usually pretty tough. Our Panthers (Springboro) just moved up to Div. 1. Maybe in a few years we can give you guys a decent game.
     
  6. ScotinOH
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    ScotinOH Expert

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    I have thought about the independent route also. It seems to have long term advantages. I lived in Centerville in High School, so I was probably at one of those games where Wayne beat the Elks. :)
     
    ScotinOH, Apr 26, 2008
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  7. theinuranceguy
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    Ya we are pretty much amazing, haha

    Elk and Panther taste, mmmm mmmmm
     
  8. SportsNut
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    SportsNut Guru

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    Warriors don't seem to fair as well when they clash with the teams on the extreme southern end of the state. Namely the GCL teams, as well as those Colerain Cardinals. Ouch!
     
  9. theinuranceguy
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    haha we went down to Cinci to watch wayne vs colerain one time... got our butts kicked like no other... I think the guys name was Mister Simpson ... first name Mister last name Simpson .... that guy was amazing ...

    We were emberassed
     
  10. SportsNut
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    Oh yea, Mister Simpson... Mama wanted him to be addressed in a revered and respectful manner, hence the Mister... hmmm. I guess that is one way to get it done.

    Yes, he was a MAN among BOYS out there on the football field in 05. He went to Michigan, but washed out early in his 2nd yr. Now at UC, but academically inelgible for 07, not even sure about 08 yet. He has two years of elegibility left and I would love to see him in a Bearcat Uni reaking some of the same havoc he did in his high school days... BEAST.

    If it is any consolation, no other school could play with Colerain that year either... State Champs hands down, and top 5 in the nation if memory serves me right.

    Over the years the dominating teams have been Moeller, Elder, Colerain and St. X most recently. Not sure about the talent pool this year yet. I know St X has lost a lot of players from last yr.
     
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