Help Need Do's & Dont's for Commission Based Agent

[oneinsurance4u]

As a new agent that works for commissions only your deal doesn'tsound good.

Your only going to get rookie agents with that offer, if any takethe offer. They will have to have a part time job to make ends meetand that means they will probably only be able to give you part timehelp.

My first insurance job was only a little better. 75/50 no book. Ididn't agree to the non compete. They hired fresh new rookies andhelped some get their license, then they got a project 200 from allof us. They milked the list while we waited for our commissionchecks. Remember that check is 30 to 45 days out. Some agents quitebecause they couldn't make it. The rest of us had other jobs so wehung in. After about 4 months they folded. I learned why 92% of allinsurance agents fail.

I think if you made a little better offer you may get some agentsthat would work hard for you.

 

[FL_PC]

Don't forget to put them back into their cages after 5 pm for E&O purposes.

 

[Guest]

i would laugh in your face as I walked out of your office!

 

[WinoBlues]

How many people do you think will say yes to this?

I would bet a lot. Churn and Burn.

Primerica starts their "agents" at 25%,0 renewals. And "trains" them on their warm market before they get licensed, when they leave they leave everything.. As I understand it. Allegedly.

 

[zbest1966]

"As a new agent that works for commissions only your deal doesn'tsound good."

You are right Sir about 100% commissions for new agents. I happen to be one of those agents that get paid 100% commission. I had to find a part-time job. There is no away I can make it off 100% commission starting out. My boss tells me that I must some sell but thats hard when you dont have a pile line. The commission is great however sales is a struggle. It can fustrating be but I am determine to make it.

 

[Crys]

"As a new agent that works for commissions only your deal doesn'tsound good."

You are right Sir about 100% commissions for new agents. I happen to be one of those agents that get paid 100% commission. I had to find a part-time job. There is no away I can make it off 100% commission starting out. My boss tells me that I must some sell but thats hard when you dont have a pile line. The commission is great however sales is a struggle. It can fustrating be but I am determine to make it.

Does the agency offer you any perks or incentives? How about a lead list or are you on your own with leads?

 

[Philly]

Doesn't sound like a good deal for the agent.

 

[NCAgent]

AFLAC can do group stuff for 3 people or more if they all get something. If the people have a life license, offer them to get the full commission on their own life policy so they can have a "free" life policy for the year. Offer the full commission on a P&C policy as a discount. Make it so the employees can reduce their bills somewhat while working for you.

Are you going to be providing the E&O, office space, phones, computers, and etc. or do they have to work from home?

If I'm going to be selling policies I'm either going to be selling life for the high commission first year, or the P&C for renewals. You just eliminated the whole benefit so I would be doing life. If I'm finding the people then I'm really doing the hardest part, which you know, so I'm only getting 50% on a 100% life contract. I say this because I'm SURE you aren't going to give them above street so you get overrides on their contract then take 50% based on what I see here.

Overall, you need to work them as a call center and that is it. Pay them hourly, pay them a bonus, and call it a day. They are just glorified order takers and call center people at that time. If you can't afford to pay a producer well the you need to get to a point where you can.

 

[zbest1966]

Granted the commissons is great like 75% and a some production perks at end of each quarter. They provided leads (Cold and Warm Leads) however the areas are competitve. I am with a captive agency going up against Gieco and Erie its not easy. I dont care how much sales skills you may use. Any advise?

 

[Norwayguy]

This is a new scratch agency. That does not have a large book of business; however, it has quotas for the carriers it has to deliver on. Right now there is not enough revenue yet to pay an agent a salary or offer additional perks to a producer.

And giving them a percentage of the renewals would cost the agency what? You are providing them 1 benefit over having thier own agency which is access to your carriers.