Fex Contracting or the Insurance Squad

[StarterAgentKG]

Yes I agree that if an agent can call and get the commission levels when they ask that is acceptable. But the reality is with many they ask and they get the run around. That is what I'm calling the Easter Egg hunt.

You make a good point about agents deciding to sign up before they even have a conversation with you. I've had calls where that's how the conversation starts "I want to contract with you." I always find that odd. I don't know you yet and you don't know me yet either. That's not a good way to start either. We need to talk to see if we are a good fit for each other.

Yes I am dealing with the run around now.

People calling you and asking to contract right out the gate, see its funny that is something I would do. But, now you just taught me not to do that.

 

[shonceman]

What about Pina Coladas and getting caught in the rain ?

Funny. But now I got that *@%# song stuck in my head!

 

[Todd King]

In this day and age everyone knows that new agents getting into FE can get top training from $25K+ Monthly producing agents and highly effective and proven lead programs and still start at their full commissions (average 115% for new agents but 125% with a few companies).

It's when extra middlemen get in the loop and start watering the commission down (110, 105, 100, 90, yikes!) just so the "friend" that recruited can get a cut of the selling agent's money mainly because "he got there first" that the new agents are being taken advantage of only because the recruiters/builders know they can get away with it.

I'm not big on government regulation. But I think that every agency should post their "minimum wage" commissions right on their website. Why should we (Agencies) give one new agent 115% and the next new agent 100% just because one of them had checked around and educated himself a bit more about what he can get as a new agent. That is exploiting the ignorance of new agents who are putting their trust in you.

All new agents should start at the same level. Or have the same options to choose from such as XYZ commision level and leads at x price or option commissions at XYX level and leads at Y price. As long as it is clearly spelled out and a fair playing field to all new incoming agents it's good. But one guy gets THIS but the next guy is more gullible so he gets THAT is what's wrong with this whole business.

And those levels should not be like an Easter Egg hunt to find.

Your 1st paragraph and your last (full) paragraph contradict each other. You first say that everyone knows, then you say they don't and they get the run around.

But here's the thing. You think that all IMOs should post commission structures. We've had this discussion ad nauseam and I think my reason for not doing it is just as strong as yours for doing it. Who knows though, I may change my mind one day.

My whole point to this is that IMOs/FMOs and Agencies of all levels operate differently. Who are we to say they are all wrong, who don't do what we think they should? I mean, you and I agree on many things and operate that way (releases, real street level comps, etc), but there are some things that we disagree on and we therefore run our companies different. Does this mean that one of us is wrong? Nah.

 

[Newby]

Yes but what I mean is that everyone who is in the business for a while and somewhat aware of this forum or other online agent groups. "Woke" I guess is the proper term.

New agents coming in to the biz do not know and are often signing up before they find out the information they need to know.

The posting of commission levels is definitely optional by the agencies but I can tell you from MY experience it is greatly appreciated by the agents. It is a no-brainer as far as I'm concerned. For the agency and for the agents.

There are different degrees of difficulty that agents have trying to find out commission levels from the various agencies. I'm sure you send them to them as soon as they ask Todd. But a whole lot of agencies don't. And the very worst ones will give the agent a huge run around who is trying to figure out what commission levels he will get. Some will tell them a level verbally that turns out to be wrong and they don't find out until after they've contracted and started making sales. I'm sure you've seen the same games and heard the same stories that I have from agents that have been taken advantage of.

Agencies not listing commission levels is no different in my mind than shopping at a grocery store that doesn't put prices on everything. I wouldn't shop there. Some people would.

And two new agents starting fresh should have equal opportunity. But if one signs up at 120% and the 2nd one got 100% because he got recruited by a guy that just decided to give him less. They are already uneven. And if they are each selling $3000 a week one of them is giving up an extra $600 every week. That's the cost of his leads!

People fail out of this business for a lot of different reasons. But falling for the commission shell game is a huge factor for a lot of them.

 

[Ryan Caras]

In this day and age everyone knows that new agents getting into FE can get top training from $25K+ Monthly producing agents and highly effective and proven lead programs and still start at their full commissions (average 115% for new agents but 125% with a few companies).

It's when extra middlemen get in the loop and start watering the commission down (110, 105, 100, 90, yikes!) just so the "friend" that recruited can get a cut of the selling agent's money mainly because "he got there first" that the new agents are being taken advantage of only because the recruiters/builders know they can get away with it.

I'm not big on government regulation. But I think that every agency should post their "minimum wage" commissions right on their website. Why should we (Agencies) give one new agent 115% and the next new agent 100% just because one of them had checked around and educated himself a bit more about what he can get as a new agent. That is exploiting the ignorance of new agents who are putting their trust in you.

All new agents should start at the same level. Or have the same options to choose from such as XYZ commision level and leads at x price or option commissions at XYX level and leads at Y price. As long as it is clearly spelled out and a fair playing field to all new incoming agents it's good. But one guy gets THIS but the next guy is more gullible so he gets THAT is what's wrong with this whole business.

And those levels should not be like an Easter Egg hunt to find.

I agree and that is why we have promo guidelines where nobody can hold you back... the upline doesn't control the commission levels the agents production does which is exactly the way this business should be.

the real question is when i speak to someone who has written three apps in his life and has a 125%... a lot of people try to buy distribution and provide no value...

as i stated before the most important thing i would look at if i was a new agent is what am i getting from my IMO, i can't tell you how many agents tell me regularly that they getting nothing from the IMO and the IMO shouldn't be getting free overides... nobody should

 

[rousemark]

I agree and that is why we have promo guidelines where nobody can hold you back... the upline doesn't control the commission levels the agents production does which is exactly the way this business should be.

the real question is when i speak to someone who has written three apps in his life and has a 125%... a lot of people try to buy distribution and provide no value...

as i stated before the most important thing i would look at if i was a new agent is what am i getting from my IMO, i can't tell you how many agents tell me regularly that they getting nothing from the IMO and the IMO shouldn't be getting free overides... nobody should

Actually, it would probably be more accurate to say they have 125%, write 3, lapse two after they have paid one or two months, and leave the upline stuck with the charge backs.

 

[Newby]

I agree and that is why we have promo guidelines where nobody can hold you back... the upline doesn't control the commission levels the agents production does which is exactly the way this business should be.

the real question is when i speak to someone who has written three apps in his life and has a 125%... a lot of people try to buy distribution and provide no value...

as i stated before the most important thing i would look at if i was a new agent is what am i getting from my IMO, i can't tell you how many agents tell me regularly that they getting nothing from the IMO and the IMO shouldn't be getting free overides... nobody should

The Strange part is the IMOs that give The lowest commissions seem to be the ones that don't do any training or add any value for the agents. It's not like they're taking a bigger chunk of the commissions and putting it back into supporting the agents. They are generally the ones that the agents tell us they got nothing from them plus had the low commissions.

 

[Ryan Caras]

The Strange part is the IMOs that give The lowest commissions seem to be the ones that don't do any training or add any value for the agents. It's not like they're taking a bigger chunk of the commissions and putting it back into supporting the agents. They are generally the ones that the agents tell us they got nothing from them plus had the low commissions.

and those are the agents we can help the most...

 

[Insurerock]

I guess not too many agents have any experience with AION . I too thought it was suspect when they ask for $300 bucks but keep it a secret who your contracted with

 

[CALTCAgent]

I guess not too many agents have any experience with AION . I too thought it was suspect when they ask for $300 bucks but keep it a secret who your contracted with

They keep it a secret who you are contracted with ?