ThurstonINS
New Member
- 6
I was with a captive agency for almost 20 years and went on my own in 2006. I did everything I could to keep costs low. I haven’t grown as fast as I thought I would over the last 4 years and I’m tired lol. My current book is over 500k and I just opened a second office a couple of months ago. I found a great deal and have a producer that I split the commission with in that second office and only have to pay for phone and internet.
My question is I need to grow faster. Money is tight and I am thinking of doing 1 of 3 things. I was thinking of hiring a producer to an hourly wage and would probably need to get a loan to do that. I was thinking of giving a producer a small monthly salary plus commission with the salary being phased out over a period of time. Third option is to keep looking for a producer to work on commission only.
I have interviewed over 100 people over the last year or 2 and only a small percentage have even considered working on commission only. Those I have hired in this capacity don’t make enough so they end up trying to do it part time and eventually fade away.
I just wanted anyone opinion on these and maybe they have an idea I hadn’t thought of yet.
I am in Michigan by the way.
My question is I need to grow faster. Money is tight and I am thinking of doing 1 of 3 things. I was thinking of hiring a producer to an hourly wage and would probably need to get a loan to do that. I was thinking of giving a producer a small monthly salary plus commission with the salary being phased out over a period of time. Third option is to keep looking for a producer to work on commission only.
I have interviewed over 100 people over the last year or 2 and only a small percentage have even considered working on commission only. Those I have hired in this capacity don’t make enough so they end up trying to do it part time and eventually fade away.
I just wanted anyone opinion on these and maybe they have an idea I hadn’t thought of yet.
I am in Michigan by the way.
