D-SNP and U65 ACA New Agent

[DVGeorgia]

I did exactly one IRRRL loan because with historically low rates, people preyed on the IRRRL and people who didn't know any better.

My people would (and I still get calls after taking a year off to take care of my son) call me before they did anything with anyone else. I lost one refi because the lady I worked with husband didn't like me.

I started doing low loans between 85-150K. Loans a lot of people at the local level wouldn't touch. By the end I was doing high end business for my realtors because they loved that they could call me with these lower level loans. However, I never forgot my roots and treated everyone the same.

It's why I think people are people. I've read agents churning policy holders for D-SNP and I've read where other agents didn't lose people. I think it's all about managing people and their expectations. I want to legit help people that seem to be underserved.

 

[somarco]

I want to legit help people that seem to be underserved.

Noble, but it doesn't change the dynamics of the D-SNP market where policyholder can (and will) change quarterly if someone offers them $50 more in dental benefits.

 

[DVGeorgia]

Noble, but it doesn't change the dynamics of the D-SNP market where policyholder can (and will) change quarterly if someone offers them $50 more in dental benefits.

I mean, I would do the same thing if someone offered me 50 dollars more of anything and I have above average income.

I have NEVER met an insurance agent who actually gave a crap about me until it was time to find a policy or renew a policy. That is the experience of many Americans. Granted, I have mostly done P&C but I know what month I bought my house because right before the policy renews, he's calling. Keep me loyal by offering me good deals before the next guy.

 

[Yagents]

It gets a little more difficult to be a "hero" insurance agent when you have 1500+ clients. I was a hero once............once.

And if you would jump for $50, you're not a client I would want. Stability in a book is key, churning can be brutal.

 

[DVGeorgia]

It gets a little more difficult to be a "hero" insurance agent when you have 1500+ clients. I was a hero once............once.

And if you would jump for $50, you're not a client I would want. Stability in a book is key, churning can be brutal.

Valid point. I wouldn't want to have 1500+ Clients because I don't believe I would be able to offer appropriate level of service. Again, same with mortgages, once I broke 10 clients for one month I passed clients to my partner. I *could* do it but I basically did a full underwrite myself and same with processing before I handed the file over to the back end. In all my time I had one closing almost get busted, but was able to fix it before the day was over.

That's how I developed and kept my realtor partners in a sea of garbage LOs though. However, I've never worked in a one call close environment so I'm sure I would adapt accordingly.

 

[somarco]

f you would jump for $50, you're not a client I would want

That is a policyholder. not a client. My feeling is the D-SNP crowd are shoppers looking for the next best deal (policyholders), not clients. Or, as I guy I once worked for said, "What have you done for me today?".

@Yagents and I (plus a handful of agents on this forum) have clients that are loyal month after month, year after year.

The mortgage business is transactional, not relationship based with ongoing service. The insurance business can also be run that way if you want to constantly be chasing your next commission check.

 

[DVGeorgia]

The mortgage business is transactional, not relationship based with ongoing service. The insurance business can also be run that way if you want to constantly be chasing your next commission check.

Absolutely not, unless you're buying leads, which I didn't in the mortgage business I was constantly in a realtor, builder, lawyer, accountant's etc. office. Doing dinners, assisting realtors with open houses etc. My client was the builders and realtors. Because without them I did not get referrals. Satisfying the actual borrower was simply a referral tool to get more referrals from that realtor network. Seller impressed with how smooth the transaction was? Let's do lunch and talk about what your clients need etc.

Not to mention, the average refi is 3.6 years or at least was. That's free money if you can give a lower rate, get equity for repairs etc.

Again, this is your local lender moves here. If you look at rocket loans they are no different than medicare call centers.

 

[Yagents]

Refinancing every 4 years?
Who the hell would do that, unless you're strictly looking at reducing monthly mortgage payments, and not factoring in the overall costs involved in the refinancing. Or, you got a shitty initial loan.

 

[DVGeorgia]

Refinancing every 4 years?
Who the hell would do that, unless you're strictly looking at reducing monthly mortgage payments, and not factoring in the overall costs involved in the refinancing. Or, you got a shitty initial loan.

Because people can't factor in how closing costs affect their loan. They see rate. Not to mention, a 4.89% was great in some parts of 2018, but in 2021 a 2.125% on a VA wasn't uncommon. So with how rates fluctuated, the math made sense on certain loans.

Plus I've always worked near military bases since I retired from the Army so I was a VA wizard. I should have been more clear, that was my average refi or move. I also generally took the loan for those clients as I got licensed in all the major base states.

 

[DonP]

I did exactly one IRRRL loan because with historically low rates, people preyed on the IRRRL and people who didn't know any better.

My people would (and I still get calls after taking a year off to take care of my son) call me before they did anything with anyone else. I lost one refi because the lady I worked with husband didn't like me.

I started doing low loans between 85-150K. Loans a lot of people at the local level wouldn't touch. By the end I was doing high end business for my realtors because they loved that they could call me with these lower level loans. However, I never forgot my roots and treated everyone the same.

It's why I think people are people. I've read agents churning policy holders for D-SNP and I've read where other agents didn't lose people. I think it's all about managing people and their expectations. I want to legit help people that seem to be underserved.

Take it from a guy that writes 25 dsnp’s a month and 40-50 mapd overall a month . You got zero ,zip chance of making any money in the dsnp mkt in telesales . I replace 20 telesales a month face to face . Many call centers dealing with dsnp’s have 50% persistency.Your only chance is face to face and building some type of relationship . You’ll be in chargeback hell . Aca same thing dealing with younger people and leads . I worked a lot of young people in aca and I bet I have 2 year 50% persistency on that business . Many people rent aca for 6-12 months . You need to deal with 50 plus yr olds retired or that owl businesses .