How Much Do Agents Make?

Aug 20, 2015

  1. markinsurance5
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    markinsurance5 Expert

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    I'm just wondering how much the agents here or anywhere usually make in a year- or every month- maybe starting off or after a few years. What is your typical income as an agent and do you work for an agency or not?


    also on a side question- has anyone tried those insurance quoting websites before? like quotit and do those work as far as making income?
     
  2. sshafran
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    sshafran Guru

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    http://youtu.be/l91ISfcuzDw
     
    sshafran, Aug 20, 2015
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  3. AssociatePI.com
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    AssociatePI.com Expert

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  4. sman
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    You're likely not going to get agents to post their income here. The agents who have been at it a while and have a niche, are likely making good money (and that's a relative term).

    Someone posted a range of averages. And that's what they are, averages. I know several agents who exceed those ranges and I know several who fit right into those averages. Insurance is a rewarding career for those who can build a clientele and get referrals. It can also be a terrible option for those who aren't built to be in this business. And yes, it takes a certain type of person to make it in the insurance business.
     
    sman, Aug 21, 2015
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  5. GreenSky
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    Annual income ranges are as low as $173 (Senior Advisor Indiana) to as high as $1.7 million (SMAN).

    Most of us are somewhere in between.

    Rick
     
    GreenSky, Aug 21, 2015
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  6. bill3173
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    Average Agent working 15 hours a week

    1st year - $45K
    2 - 5 $60K
    6- 9 $80K
    10+ $100k+

    The problem is getting agents to work 15+ hours a week consistently for 10 or more years.
     
    bill3173, Aug 21, 2015
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  7. sman
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    sman Guru

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    I hope that's a prophetic statement. I'm not at $1.7 million....yet.
     
    sman, Aug 21, 2015
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  8. MW Agent
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    It depends some on what type of business you do. Higher renewals usually mean lower first year comp. I would guess most agents make between $20,000 to $50,000 their first year. However, if you do not prospect consistently, you could easily make much less than $20,000. If you are busting you butt and in the right lines (life insurance), some clear $100,000 their first year. That is by far the exception, not the rule.

    If you lay the ground work properly in the first 10 years, you should easily be over $100,000 net income, it could be substantially more, many I know are in the $150,000 to $300,000 range. In my small office, a few guys are doing over $500,000+ per year. An older agent I worked with was over $1,000,000.

    The first mark most of us shot for was to cover our bills. The second mark seems to be $100,000. How long it takes to get there is really on you. I would say most probably get there within 3 to 10 years. It really depends on you.
     
    MW Agent, Aug 21, 2015
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  9. bill3173
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    bill3173 Guru

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    Yes, it depends on how much $$ you have to start as well. Some of the "fair" haired guys around town inherited large multi line agencies, or their Fathers bought them a thriving business, etc. They are going on road trips and passing out Scholarships after a couple of years.
     
    bill3173, Aug 21, 2015
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  10. senior-advisor-indiana
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    senior-advisor-indiana Guru

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    I have a lot of write offs....
     
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