Commission Splits Question

[insureitnow]

Thanks for the replies guys. I am pretty new and don't really have a book of business built yet that I can support myself on. I'm at a small independent agency (2 producers, 90-95% commercial) and am getting paid hourly, but I am expected to produce, at a 50% split to earn the hourly wage that is paid to me. When I exceed the salary amount, then I can get commissions paid, again at 50%. So I am basically getting paid commission only at a 50% split, but with some commissions advanced to me??

Do you get anything for renewal? Do you have a contract with the owner?

 

[reiser0002]

Hi, Mike in Maryland here and new to the biz. Talking to a P&C agency that is looking to do more life. I do not understand their split and thought that different products have a different commission structure, and if they provide leads there is one split and if I self generate there is another split. I have contracted with First Family Life and trying to figure out the products so I can start making calls for Final Exp and Mortgage Prot. Their carriers have commissions that are based on annual premium and improve based on volume, pretty clear and up front. This P&C agency owner seems a little slippery but I need low hanging fruit to get myself started. Can you refer me anywhere that I can learn more about what to expect, negotiate, etc? Thanks very much reiser0002-at-gmail

 

[shawnmwalker]

I would rather get 90 new 90 renewal and own my book!

Just sayin!

 

[FL P&C Broker]

I would rather get 90 new 90 renewal and own my book! Just sayin!

Why not 100?


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