Charging an Agency Cancellation Fee?

[Guest]

You are serious? Do you think that they care... If you are charging a broker fee already why do you feel the need to charge a fee for cancelations?

You ARE Charging a broker fee, (is that legal in your state, mine it isnt) AND you want to charge a cancellation fee....

MONEY HUNGRY!

Watch how fast word spreads of you doing that and the phone would stop ringing.

If this is such a problem, what did you expect with non-standard business, then dont write non-standard business.

 

[Bertolinoins]

I would take the opposite stance for a non standard agency, I wouldn't want to be chasing customers for money when most of my fees come from re writes. I would be as friendly as possible and hit them with a stiff broker fee with a smile on my face so they felt comfortable coming back in after lapsing. Cancellations should be part of the business model for non standard agencies. If you are chasing them for a cancellation fee they will go to another agency instead of returning to you.

 

[robb01]

I would take the opposite stance for a non standard agency, I wouldn't want to be chasing customers for money when most of my fees come from re writes. I would be as friendly as possible and hit them with a stiff broker fee with a smile on my face so they felt comfortable coming back in after lapsing. Cancellations should be part of the business model for non standard agencies. If you are chasing them for a cancellation fee they will go to another agency instead of returning to you.

That is a really good point, we do get as large of a broker fee as possible when they start.