Farmer's Group

[ewilkins]

Hi, I am new to the forum and have some questions. I was offered a job working in a Farmer's agency in Oregon. My wife and I will be moving from Texas if I decide to take it (our goal was to move to Oregon, so this is good). This will be my first insurance job, so I need to ask:

- What is the base salary I should expect? (He did advise that I could start out with one, which I am assuming is subsidy), and that I'd get 50 to 60% commissions with a salary, 80% without one.

- Is Farmer's a good agency to learn the ropes and get my feet wet so to speak?

- My wife will not have a job right away and we will need to pay bills. How feasible is it to expect that I can start making money right away? This is my biggest question.

Thanks!
E.W.

 

[b61mack]

Use the search function. It is in the middle banner. Pull up a chair, you will hear a lot of pro's and con's. Mostly con's.

 

[FEENIX]

Farmers can be good, but the new contract with the strict quotas is no bueno. They are notorious for throwing agents at the wall and seeing who sticks. The majority of District Managers have very little involvement. Now if you work with an agent as a producer it can be different as you are working for him and not Farmers. Just type Farmers in the search bar and have a look for yourself.

I was a Farmers agent

 

[ewilkins]

Thanks for that info. I had just assumed that since I would be working for a Farmer's agent, that I'd be working directly for Farmer's. This is good to know. I definitely may want my own agency eventually, but want to get into the field to see if I like it first.

Thanks!

 

[FEENIX]

Thanks for that info. I had just assumed that since I would be working for a Farmer's agent, that I'd be working directly for Farmer's. This is good to know. I definitely may want my own agency eventually, but want to get into the field to see if I like it first.

Thanks!

Its different because you are not under contract by Farmers, so you are not bound to the quotas they have. That doesnt mean the agent will not draw up a contract for you that may have some sort of quota built in. Please do your homework before pulling the trigger. Consider looking into becoming a producer for an Indy broker as well.

 

[ewilkins]

Indy sounds appealing to me, but kind of scares me at the same time. I'm brand new to the business. Doesn't being an indy agent kind of leave you out there by yourself? I could really use someone to show me the ropes.

 

[FEENIX]

yes thats why you become a producer for an established broker that will show you the ropes, in exchange for a decent commission split and let you walk away with your book or sell you the book. That way if you decide you want to go on your own you dont have to start from scratch.

 

[ewilkins]

yes thats why you become a producer for an established broker that will show you the ropes, in exchange for a decent commission split and let you walk away with your book or sell you the book. That way if you decide you want to go on your own you dont have to start from scratch.

Thanks FEENIX. I have to admit that I've been feeling really uneasy with the Farmer's offer. The agent told me I would be an independent contractor for him which I guess is how it works, but I don't know. Something feels "off" to me if that makes any sense. I'm still looking at my options and talking to different agents out there. I've contacted some Indy agents to find out if they are hiring producers. I think I'd honestly feel a bit better when it's all said and done.

 

[FEENIX]

You are going to be a 1099 (contractor) with anyone no matter where you go. It's tough to get put on as an employee being a producer, it doesnt make sense for them to do that. Focus more on the commission splits and being able to walk with your book of business if and/or when you decide to leave.

good luck!!!

 

[Bob Klee]

My take as an X-Farmers/Allstate agent.

1st) The rules of each state differ so you might want to check on this. 1099 as a sales rep in Oregon? Does he set office hours for you? Does he direct & control your actions? If so, no 1099 status. There are other questions to ask. Look at the Fed Wage & Hour guidelines first. Then the state. Many, Many business owners incorrectly classify employees as 1099 to avoid paying FICA & SUTA. I encourage you to check it out.

2nd) Since you aren't being appointed by Farmers, doesn't really matter if Indy or Captive IMHO. You have no experience. If you think you'd like a career as an owner, no better way to get your feet wet to see if you can cut it.

That's my 2 cents for today!