Hello All

[pauliec]

hello everyone,
I currently work in residential mortgage lending as a loan officer for a regional depository. I am licensed for life and health in Ohio and am a notary public. I have been approached by state farm to look into their process. I've passed their initial few items....some suitability test and background check.

I'm not sure at this point if moving from a reasonably good position currently to insurance and specifically state farm is a good idea or not.
on the one hand, I would like to build a book of business with some trailing income....having to start every month over from scratch in mortgage lending is the item I dislike the most.
on the other hand, I do fairly well in this business and have a good referral network that keeps me busy.

this forum looks great with lots of information. Please let me know your thoughts! thank you
paul

 

[blue_wynd]

hello everyone,
I currently work in residential mortgage lending as a loan officer for a regional depository. I am licensed for life and health in Ohio and am a notary public. I have been approached by state farm to look into their process. I've passed their initial few items....some suitability test and background check.

I'm not sure at this point if moving from a reasonably good position currently to insurance and specifically state farm is a good idea or not.
on the one hand, I would like to build a book of business with some trailing income....having to start every month over from scratch in mortgage lending is the item I dislike the most.
on the other hand, I do fairly well in this business and have a good referral network that keeps me busy.

this forum looks great with lots of information. Please let me know your thoughts! thank you
paul

Have you read up on the threads on being a State Farm agent? You should if you haven't. Is there a way you can talk to the insurance agents you refer business to right now and have them partner with you? Get your P & C licenses and work part time with an agency for experience. You can maybe later switch full time to insurance by working in that agency where you would have a book of business or open one of your own. As for the details of that arrangement is something you will need to work on, eg. who owns the clients you brought in, commission split.

 

[pauliec]

good point and thank you for the direction. I have read a lot of the state farm posts about becoming an agent there. P&C wasn't something I really thought about as a career until this came up. Now that it has and I'm looking into it more I think a good course of action here would be to chat with some of the agents I work with currently about it.
state farm was attractive at first glance especially with the ability to offer bank products I'm already familiar with and mutuals with a series 6, 63. it still has some attraction but I'm just not sure I want to go out of pocket 50K minimum for the possibility of being able to have my own state farm agency.