Getting Started with Insurance

Feb 11, 2016

  1. tawil01
    Offline

    tawil01 New Member

    Posts:
    3
    Likes Received:
    0
    I have been a Realtor for 16 yrs, and of course you have your good sales which make up for the bad months.

    However, I have been looking into getting into the insurance industry for the past 6 months. I want to start and grow a business that will give me a residual income .

    I live in Texas

    I have spoken and got accepted by SF, Allstate, Pronto as well as Fiesta insurance.

    Yes, I do know that Allstate and SF are targeting a totally different market from Fiesta and Pronto.

    Things I like about SF and Allstate....Recognition of a solid and reputable company. Great opportunity for growth, bonus upon completion of training. NO franchise fee.

    At the same time, things I don't like: Allstate and SF have quotas, Allstate training is 6 weeks away from home ( I have kids). SF has 17 week training but nothing is guaranteed you will even get an office and when you do, the client portfolio is not yours.

    This brought me into Pronto and Fiesta, these are your non standard clients, quick come and go type of clientele. Franchise fee $10K Fiesta, $25K Pronto.

    They each have 3 week training, Pronto sells only Pronto while Fiesta has over 50 different carriers.

    Pronto pays 12% + agency/application fee while Fiesta takes 25% of what the carriers pay you.

    Now, I need words of wisdom....PLS do not tell me to stick to my Real Estate since I will be continuing with it. I have a successful business with other agents working for me.

    Which one of these 4 would you say would be the most profitable?

    Thanks in advance !!;)
     
    tawil01, Feb 11, 2016
    #1
  2. shawnmwalker
    Offline

    shawnmwalker Guru

    Posts:
    936
    Likes Received:
    57
    Call David Wilson. He knows Everybody in FL. He has been in the industry 25 years. Has helped agents find the right fit.

    David Wilson: 904-885-9797
     
  3. CASouth
    Offline

    CASouth Expert

    Posts:
    47
    Likes Received:
    0
    State:
    California
    if you are doing good in RE what not expanding that business in to new areas or other fields of RE?
    but Sorry; you don't want hear that?:goofy:
     
    CASouth, Feb 13, 2016
    #3
  4. kcborden
    Offline

    kcborden New Member

    Posts:
    1
    Likes Received:
    0
    Just getting started myself following a long career in the military. Rather than focus on fees to startup perhaps find a company that truly helps the client by not answering to shareholders, does not charge fees, and gives back to the community. Modern Woodmen of America is a fraternal financial services organization and one that has the right focus. Do your research and decide what will work best for you. Are you looking for a new career that is rewarding or a job that will generate revenue? Good luck.
     
    kcborden, Feb 13, 2016
    #4
  5. tawil01
    Offline

    tawil01 New Member

    Posts:
    3
    Likes Received:
    0
    I believe that the insurance industry is a way to expand my RE since insurance generates leads for my RE and vice versa.

    There are home insurance needed, rentals insurance and well as car insurance leads that can be generated by my RE office. That is why I am instructed in the insurance industry

    ----------

    Thanks for the tip, but I am in Texas
     
    tawil01, Feb 26, 2016
    #5
  6. AdvisorsIns
    Offline

    AdvisorsIns Guru

    Posts:
    269
    Likes Received:
    1
    State:
    South Carolina
    Have you read the book E-Myth for insurance? The owner of the Fiesta franchise is the co-author

    If your real estate business has done you well why not buy a current Independent agency or start one with an aggregator like SIAA.

    Are you concerned about the know how to run an ins. Agency and that is why you want a franchise? Partner with someone with experience in insurance that has been captive but looking for a better opportunity.
     
Loading...