If anyone would care to post their opinions I would appreciate it as I'm new to this forum. Have been in FE sales for several years now and have done quite well so I decided to relocate down to the Tampa St. Petersburg area. Is it me or is the market extremely saturated down here. I can close if I can see people, however, it seems appointment setting is more difficult than up North, and door knocking not as responsive as well. Thinking about getting into the Mortgage insurance bizz. Thanks to those who care to respond.
FE or Mortgage Insurance
- Thread starter BeachBoy
- Start date
- 4,689
It is saturated down there but there's no reason you can't drive to the outlying, more rural, counties. You should be dropping DM there instead of Pinellas and Hillsborough.
Lots of call centers there too but you're limiting what you can make if you go that route.
Lots of call centers there too but you're limiting what you can make if you go that route.
Crazytiger
Expert
- 75
You better be prepared to pay up to $50+ per lead with mp if you do your own mailings and they aren't subsidized. Oh and the hours suck for mp compared to fe.
- 3,247
Welcome to the "Sunshine State". I've been told that this is a tough state but I really think it comes down to finding those "honey holes". If you're working the Tampa/St Pete market and not traveling to the more "rural" areas, you're doing yourself a disservice.
Mortgage Protection worked GREAT for me in the Fort Lauderdale and Miami markets. There just aren't many leads for it any more!
- 1,900
I currently work both FE/MP leads, I see the value in both. Like Agentguy5 said, the MP leads are more difficult to come by, you either must pay a lot per lead or give up some of your contract % to an IMO. Best of luck !
- 24,967
Do you cross sell much between MP & FE?
- 1,900
A lot of MP leads get SIWL. Either too sick or too old for anything else.
- 24,967
I find that my term cases lead to SIWL as well. on them or their parents. How about the other way? I do OK writing the kids of my older SIWL clients also.
- 1,900
I'm not as good at networking as I probably should be, or else I would be writing more term products off of FE leads. I have had maybe one or two. Honestly my pitch most of the time is "Hey this is term coverage, it could very possibly expire before you die and the cost of coverage will go up" vs "This is a permanent policy that builds cash value over time that has a guaranteed pay out". Some people still prefer the term others don't mind taking the smaller policy.
- 24,967
I do not pitch term to the typical FE client. But I ask if they would like me to contact the bene and contingent bene to get them a packet on what they need to do if they (FE client) dies? They are usually younger. I also bring up family plans and get referrals to their kids.
I wrote two SIWL plans last week, before I left the house I also wrote the daughter, her husband and kids 20 year terms with child riders, Saturday I wrote the other daughter and grandkids and quoted her in laws FE plans. I also have a call into a son that the mom will pay the premiums on. All off an internet lead from Customized Quote.
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