FE Saturated?

[Life Hawk]

I was just thinking... with the percentage of people dying rising sharply... isn't the market primed for more business opportunities now more than in the past when the rates of those dying where much lower...

So as agents wash out... those who are left and those who come in now have to deal with all the folks that will be dying, or at least those who have a good chance of dying sometime in their life time. Business should be booming!

 

[Newby]

I understand, but the success rate for those that have insurance experience should be higher than brand new agents....I think back to when I was recruiting debit agents almost everyone of them had never been licensed before...As I look back, only one out of ten, maybe less, made a career in the insurance industry. A couple went into management and others becamed independent but most went in to other lines of work. ,

How well did you screen them on the way in though?

You can't tell me that if you have plenty of prospective agents to choose from, and you don't want too many, that you can't make choices that are going to be way beyond the industry average.

 

[Newby]

Lol newby you are talking out your ass about 75 percent of your agents don't fail.

Depends on what you call fail. If you mean fail out of the business entirely in the first year or two then no. There is no way that 75% of the guys we bring on fail. Not even close.

 

[Newby]

I'm laughing my ass off. It's irrelevant if you stack agents for mailings on top of each other. There's 20 other agents mailing the same area's. 75% of respondents to these direct mail cards are either dead broke or have no idea why they mailed the card in.Why do you think 99% of agents who were supposedly successful are now recruiting and selling leads? Because its tough pounding asphalt day in day out and you burn out. But as long as recruiters make all believe they can do it they make money. For most Imo's its a big hamster wheel.

No it's not. When agents within an agency aren't working the same area they aren't competitors with each other. Each agent can work a smaller area closer to home base than agencies that stack agent after agent and just see who survives.

Hardly any of our agents recruit anyone. I only have a couple that even want to have anyone under them. We recruit specific types of agents. If their dream is recruiting rather than selling I refer them to agencies that love that model. If you are still on the beginning level commissions that we give all new agents we don't want you to put anyone under you. Because you would have to put them at reduced commissions. How is that fair to them? They should start at the same commission levels that all our agents start at which are posted right on our website for all to see.

Giving them their full commission without shaving 10 to 15 points off of it because someone "recruited" them is another factor in agents making it or not. The 10 to 15 points might cover their entire lead cost. The more you take away the less the chance is of them making it through their 1st year.

 

[JazzInk]

The senior demographic is huge... as a whole, it's not saturated.

But in terms of MARKETING saturation, it is very very saturated.

I checked with some of my senior relatives and was astonished to hear how many DM cards for FE they've received. "I get those things every week" was a common statement.

 

[BibH]

Every week? Some I've talked too tell me they get 10 a month . Some even have other cards filled out when I enter the house. With

 

[rousemark]

Depends on what you call fail. If you mean fail out of the business entirely in the first year or two then no. There is no way that 75% of the guys we bring on fail. Not even close.

But, then again, you are bringing on a majority of experienced agents that have already managed to make it over the hump. The startling rate of failure stats are for green pea agents. If you were recruiting newbies off the street, your failure rate would be much higher.

 

[rousemark]

Every week? Some I've talked too tell me they get 10 a month . Some even have other cards filled out when I enter the house. With

My wife received two last week. I only got one. I am close to aging out of the "preferred" group.

 

[Newby]

But, then again, you are bringing on a majority of experienced agents that have already managed to make it over the hump. The startling rate of failure stats are for green pea agents. If you were recruiting newbies off the street, your failure rate would be much higher.

We rarely get experienced FE agents. The majority of our agents are either newly licensed, or been in other types of insurance like Medicare or (my favorite ones) agents who were in the down lines of pyramid recruiters. None of these agents come to us as trained.

 

[rousemark]

We rarely get experienced FE agents. The majority of our agents are either newly licensed, or been in other types of insurance like Medicare or (my favorite ones) agents who were in the down lines of pyramid recruiters. None of these agents come to us as trained.

I stand corrected.. My apologies for my false assumptions..