Farmers Agents is it time to Go Independent?

[TL Donaldson]

Hello...I am a Farmers Agent that is miserable. I have my securities license, P&C, as well as Life/Health. I feel stuck and would love to learn about different options, including going independent. I believe I was tricked into buying this Agency, as there was no mention of decreasing commissions. To make matters worse, my DM recommended I bring over the CSR to my Agency from the Agency I just bought. He failed to mention her malicious past, which involved pirating policies from other agents, including his brother. She ended up downloading my book of business onto her home computer. Quite a gem she is. I also owe a lot of $$ on my Agency, and my DM could care less about being a coach. So, I'm sending out an S.O.S. in hopes of receiving some insight and hope for my future. Until then, I'll continue to work my butt off, grow more gray hair, and try to stay above water. Thank you. You are appreciated.

 

[Warrior]

You are in a hard spot. I would fire the CSR. I would see if there was some legal recourse for her stealing your client list.

I Too was a farmers agent. They never told me the back end of debt they charge while your an agency owner. All the mailers and website and internet placements they charged me for even after I told them to stop all mailers, they didn't.
My DM was not supportive. He supported the guy that was hired with me who would write 10 life policies a week. He would threaten his clients. He was from Nigeria and a big tall man. He would go to the areas where other Nigerians lived and sell polices to them. I went with him one time and saw how he sold them. Very unethical. When I mentioned it to my DM all he said was a policy is a policy no matter how you get it. The Nigerian agent quit and moved out of state. All 86 of the life policies cancelled and the DM got in trouble.

I left and became an Independent. After a year 100% of my clients came back to me. I've tripled my sales in less time than when I was at Farmers.

I still have debt with Farmers after being gone since 2016. Because when I went to the Farmers University they forced everyone to get a Farmers Credit Union loan. They tried to get everyone to sign up for a $50k loan or more. Half our class got a loan for $80k. The other half took the $50k. I refused and they told me I had to. So I took a $20k loan. They were not happy that I didn't take a larger one. I needed money to open my office. So this was all I needed.

I don't know how much debt you have. But going independent was the best choice for me. I sell more policies from 20 different top companies. It's a no brainer. I don't have quotas and I don't have to be pushed with a must have in every quarter every client must have a home, auto, life, umbrella policy or you won't get your bonus type of threats.

I run my office my way.

Get Rid of your CSR. Don't hire unless you really have to. Kill your debt with Farmers. Go independent. Save your client list so when that 1 year is up you can get them back. Send them a letter explaining why your leaving and why you will be calling them in a year. I did and showed the letter to my DM so he knew I was going to get them back.
You have to think of your future. Sit in a job that is killing you or be in a career that you are killing it. Be happy or be dead. I'm here if you want to talk.

 

[TL Donaldson]

Thank you. And I did fire that CSR over a year ago. I told my DM what she did, but he swept it under the rug. I then told my DM's boss. It was the next day that I was contacted by an investigator, and then it went to the legal department. She'll never be appointed with Farmers, but she works for another Farmers agency down the street. How was that allowed?
As far as the debt goes...I'm going to pay that off with the sale of the Agency.
Anyhoo, can you share which independent company you're with and why? I am drowning, and at such a loss. I also have my securities license that I'd like to use also. Thank you so much!

 

[BADTROUT]

@TL Donaldson Definately take @Warrior 's offer to talk to. You are in a tough spot but you have options. Many people start just how you are, and end up going indy, myself included. Hang in there, but get outta there!

 

[Warrior]

Once you pm me, you can get me your contact info and I'll call you and we can talk. It's easier than typing a novel.