Getting my license soon and maybe joining with Allstate. Advice?

[Sodapopp]

Once upon a Time, I was a captive agent. I had to make a clean break and even that was costly $$$. But now I am an Independent Agency and making more now than I ever did with being captive.

Find an Independent Broker who will train you and give you more money without the stress. I found one who let me have my own office and run it the way I want to. NO quotas, no stress in getting enough life sales etc. MORE $$$.

Independent is the best way. If I could go back and start over......INDEPENDENT IS THE BEST WAY.

And I live happily ever after!

I've heard so much about being independent when only the reason I created this thread is to get answers that directly relate to my question. Please only people comment that applies to my question. Even though I would love the help I'm askin for specific help. Not being independent

 

[Sodapopp]

When I'm ready to go independent. Which is a long way from now I'm sure I'll have questions around that time.

 

[Warrior]

I've heard so much about being independent when only the reason I created this thread is to get answers that directly relate to my question. Please only people comment that applies to my question. Even though I would love the help I'm askin for specific help. Not being independent

You ask for specific help with your decision. We all told you that being a captive agent will do 1 of 2 things for you. Make you so frustraited that you quit the insurance biz all together or you choose to become an independent agency. Allstate is like all the other captive companies, they are not looking out for your best interest, nor are they looking out for the client best interests. They are looking out for the corporate interests in getting as many sales agents to sell, sell, sell. They want big dollar sales like life insurance. You will be the golden child if you can sell 3-5 policies daily with life insurance including. The stress to only get commissions and realizing that you will need to sell at least 10 life apps and 30 homes P&C polices to make money.

A 1st year agent will make $25k - $35k if lucky. 2nd -5 Year agents about $35k - $40k. Only about 15% of agents make over $100k a year if that. If you get your own office, you will spend $$$ on rent, signage, furniture, computers, phones, phone and internet service, front office help, business insurance, E&O insurance and the beloved taxes. Which means you will be lucky to take home any income at all in the 1st 3 years.

Sure, Allstate has a loan program to get you all those things for you, but.......If you cannot keep up with the quota demand, you will have to pay it back in big monthly Allstate will not pay for your office. Monthly costs are $500-$3500 per month depending on where you want your office.

Being an independent, I have all those expenses, BUT I make 4X the amount I did when I was captive. And I locked myself into a 5 year lease that is very affordable.

Becoming an Insurance Agent is not an easy thing. It isn't a get rich quick thing. I got into it because I love people and want to help them save money and have a real live person who they can contact 24/7. It takes 15 hour days and weekends to build your book of business. It take tenacity to make it past all the other agents who are in your ALLSTATE office or other agents out there.

You want a reality check, and all of us who have walked the walk of captive are trying to give you the DO NOT WALK IN THOSE SHOES. It isn't that we hate Allstate. we just know that companies like Allstate, Farmers, State Farm, American Family etc are captive companies who want to squeeze your talent to get them more money. IF you want to leave, all those clients you worked so hard to build a relationship with, you will not be able to take with you for 12-36 months. You can't call them, or if they show up to talk, you cannot talk to them. You will be starting from scratch all over again. Instead of doing it right the 1st time.

When you start out with an Insurance License, everyone of the captive companies are foaming to get you to write insurance for them. They see fresh meat. They will suck you dry.

Get a Independent broker. He/She will train you, help you succeed and help build you into a stronger agent, not just a salesman. Then he will help you get your own agency and build a strong book that cannot be taken from you. This is the reality of all of us who have been there done that. We are trying to help you not to make the same mistake.

 

[Sodapopp]

You ask for specific help with your decision. We all told you that being a captive agent will do 1 of 2 things for you. Make you so frustraited that you quit the insurance biz all together or you choose to become an independent agency. Allstate is like all the other captive companies, they are not looking out for your best interest, nor are they looking out for the client best interests. They are looking out for the corporate interests in getting as many sales agents to sell, sell, sell. They want big dollar sales like life insurance. You will be the golden child if you can sell 3-5 policies daily with life insurance including. The stress to only get commissions and realizing that you will need to sell at least 10 life apps and 30 homes P&C polices to make money.

A 1st year agent will make $25k - $35k if lucky. 2nd -5 Year agents about $35k - $40k. Only about 15% of agents make over $100k a year if that. If you get your own office, you will spend $$$ on rent, signage, furniture, computers, phones, phone and internet service, front office help, business insurance, E&O insurance and the beloved taxes. Which means you will be lucky to take home any income at all in the 1st 3 years.

Sure, Allstate has a loan program to get you all those things for you, but.......If you cannot keep up with the quota demand, you will have to pay it back in big monthly Allstate will not pay for your office. Monthly costs are $500-$3500 per month depending on where you want your office.

Being an independent, I have all those expenses, BUT I make 4X the amount I did when I was captive. And I locked myself into a 5 year lease that is very affordable.

Becoming an Insurance Agent is not an easy thing. It isn't a get rich quick thing. I got into it because I love people and want to help them save money and have a real live person who they can contact 24/7. It takes 15 hour days and weekends to build your book of business. It take tenacity to make it past all the other agents who are in your ALLSTATE office or other agents out there.

You want a reality check, and all of us who have walked the walk of captive are trying to give you the DO NOT WALK IN THOSE SHOES. It isn't that we hate Allstate. we just know that companies like Allstate, Farmers, State Farm, American Family etc are captive companies who want to squeeze your talent to get them more money. IF you want to leave, all those clients you worked so hard to build a relationship with, you will not be able to take with you for 12-36 months. You can't call them, or if they show up to talk, you cannot talk to them. You will be starting from scratch all over again. Instead of doing it right the 1st time.

When you start out with an Insurance License, everyone of the captive companies are foaming to get you to write insurance for them. They see fresh meat. They will suck you dry.

Get a Independent broker. He/She will train you, help you succeed and help build you into a stronger agent, not just a salesman. Then he will help you get your own agency and build a strong book that cannot be taken from you. This is the reality of all of us who have been there done that. We are trying to help you not to make the same mistake.

I have no ideas not to get a broker. I've done a little searching but could do more. I feel as a new agent I would need training and I guess they would be of assistance to me. I would like be to be my own boss like I have been for the past few years but I'm such new meat. In my business I was doing cold calling. Sales. Meeting clients etc so I have no problem spending all my days doing that...but it still stands on how I find a broker. Should I just google insurance brokers in my area?

 

[Sodapopp]

I live in Kansas if that helps

 

[BADTROUT]

A good resource would be Trusted Choice. I would go to trustedchoice.com and search for an agent in your local area. Once you have some agencies/agents try on that sales sword and go slay 'em. Meaning, let them know you are licensed and are wanting to get into insurance sales, and ask if they are looking for producers. Many of these will even likely discuss options of your eventual exit... buyouts etc etc But you should have some interest there from the get go.

 

[Sodapopp]

Yay! Thanks for a source. I will check them out

 

[BADTROUT]

No worries... honestly you could even look in the yellow pages and to beat a dead horse... independent agency would be my recommendation... there are good and bad, but your chances are likely better for a LONG RUN approach. Trusted choice is the nationall association for indy agents... there may also be a PIA in KS as well.

 

[Sodapopp]

No worries... honestly you could even look in the yellow pages and to beat a dead horse... independent agency would be my recommendation... there are good and bad, but your chances are likely better for a LONG RUN approach. Trusted choice is the nationall association for indy agents... there may also be a PIA in KS as well.

I'm looking at trusted choice as we speak. Lots of good sources and companies. Two thumbs up for this jewel!

 

[BADTROUT]

Check this out as well. Home - Independent Insurance Agents and Brokers of America, Inc.