Door Knocking on Nicer Homes

[fla2cali]

So I understand that door knocking is part of the business and is necessary to be successful. However, I'm in Northern California, Bay Area, and some of the leads I get are for some pretty nice homes. $500,000 plus, with a lexus or some other luxury vehicle in the drive way. Door knocking is already difficult for me, and I feel as if I'm wasting my time going there. The sales I've made are typically low middle class, to low income areas. I've knocked on a few, and it's always a waste of time, but I'm assuming maybe I just haven't done it enough.

Has anyone come across this dilemma?

f2c

 

[Stephen]

Needless to say being from Arkansas I have no idea what the folks in Silicon Valley are like.When I worked leads, I was always apprehensive when I came up on a nice home, but what I found was that rich folks are just like the rest of us. Some of them don't like salesman showing up unannounced, and some would welcome me with open arms


Just curious, what kind of leads are people in the Bay area sending in?

 

[fla2cali]

Needless to say being from Arkansas I have no idea what the folks in Silicon Valley are like.When I worked leads, I was always apprehensive when I came up on a nice home, but what I found was that rich folks are just like the rest of us. Some of them don't like salesman showing up unannounced, and some would welcome me with open arms


Just curious, what kind of leads are people in the Bay area sending in?

The same old social security $255 deal. I've tried different types. I've tried my own mailer. But without fail, these are the most consistent.

 

[Rearden]

I'd rather door-knock a trailer all day versus a upper-middle income home.

BUT -- and I have personally struggled with this -- NEVER pre-judge ANY lead.

Case in point -- I remember doing drive-bys to door-knock and I came across this house. Pretty nice, several decent cares in the driveway.

I was pissed -- not the typical FE prospect. So I drove on.

Well, my appointment-setter at the time said they were HAPPY to see me a little later on that day, so she set the appointment.

Results? After 3 months, I sold the wife an $840AP Oxford FE plan and I just got ink on a $100k GUL policy for the husband yesterday. PLUS, I have an "in" to replace their Med Supps when they go up in price in a few months.

So I could have literally PASSED UP on several thousands in commissions, because I talked myself out of seeing them.

Even if 1 out of 10 nice home leads buy -- is it still worth it just to drive-by, door-knock, and see?

 

[theinsuranceman]

Higher income areas will have a checking account and you can ask for the whole year's premium all at once.

 

[Newby]

Wealthy people (as a rule) don't finance small purchases.

Lifetime pay FE is simply the worst finance deal on $10,000 and it can never be paid off. It's not in any way attractive to people who don't need to "borrow" the money to have a $10,000 death benefit.

A 10-pay policy is MORE attractive IF you can show them that they will pay in less money over the 10-years than they end up with PLUS have the benefit of death protection during the payment years.

Single pay is usually what wealthy people will buy. You pay $14,000 in today...you have $25,000 paid up. Done. This makes financial sense to them.

This is why wealthy people buy funeral Preneed insurance rather than FE. It makes more financial sense but only IF they can single pay OR pay it off during the same as cash years.

But they will buy FE IF you present the right payment terms to them. NEVER lifetime financing.

 

[Jake07712]

Between appointments on Tuesday,I went door knocking. At least 4 of the houses, (out of the 6 leads that I had in my hand), lived in houses that you couldn't touch for 1/2 a mil. Didn't get anybody in. One of the houses had a pit bull on the lawn, so I called the guy. He was anxious to see me and made an appointment. He wanted 12K in FE.
I'm much more comfortable calling the more affluent lead than knocking on their door. I find that my rate of appointments are about the same either way.

 

[Justin Bilyj]

Great advice Scott.
Dave good job.

 

[jdeasy]

I learned long ago to not prejudge any lead, person or home but, when I'm running my appointments and I pull up at a $250,000 and up home my heart sinks a little as I know they are either broke and mortgaged to the hilt or they didn't understand what they were responding to.

I don't get many of those that aren't weeded out on the phone but, when I do, and they do actually have meoney they are more along the lines that Newby described. They are preneed buyers or single premium buyers.

We have even stopped mailing a couple of the wealthy zip codes in my coverage area.

 

[funeraldirector]

Richie Rich doesn't buy FE. There are some exceptions, of course. Paid in full cemetery property or traditional funeral. A few years ago, I hit a door cold. More upscale area than I usually work and the prospect said, "Look, if I die I'll just write you a check."...I said, "I look forward to you sitting up on the gurney and writing a check."...It's all fun in the field...