I have my L&H license... now what?

[Angio333]

Thanks! I don't have a problem putting in a full work week or working hard. I just don't want to work so much that my wife becomes a stranger, and I like to be able to have dinner wife my wife. Irt seems that a few companies out there expect their new people to work 60 + hours a week.

 

[TXINSURANCE]

You get out what you put in.

60 hours a week is nothing if you want success, it depends how bad you want it.

No such thing as a free lunch - P&C or L&H - same game.

Good luck!!!

 

[Agent Jeff]

Schedule is very much up to you. I tend to work an almost split shift, taking a few hours off in the middle of the day. Clients like to call in the evening, doesn't mean you have to respond to them.

I tried passing out fliers a few times, got no where with them, except a complaint. Gave up on them. Not a bad gig, just wasn't for me. Also, I don't do health as a primary market, just as an adjunct to my P&C business, so visiting small businesses isn't worthwhile.

Most of my new clients come from realtors, mortgage brokers, and car dealers. A reasonable number come from my clients.

If you write out a plan, and work the plan for 8 hours a day, you should make at least $50K the first year. No guarantees, since I don't know your market or your skills, but it really isn't that hard.

A lot of agents fail because they get into the business because they think it will be easy and only need a few hours. After all, you just need to buy leads on the internet, sell half of them, and then take the rest of the day off, how hard can it be???? When they realize they have to work in a focused manner for long periods of time, it becomes something different than they signed up for.

Of course, I believe this is true with most professions.

Dan

Thanks Dan,
That does help.

Can you clarify a little, though, the pitch you offer to the mortgate brokers and car dealers? Are you offer them a special service or some cash for referrals?

 

[djs]

Thanks Dan,
That does help.

Can you clarify a little, though, the pitch you offer to the mortgate brokers and car dealers? Are you offer them a special service or some cash for referrals?

My goal is to help them close deals. Both have different things in mind, and I avoid the cash thing.

Car dealers - it's all about getting loans funded. I offer follow through on getting insurance in place, working with the banks to verify coverage, and feedback on the deal. Big dealers won't usually bite, independent dealers will, since getting loans funded is the key to them eating that week.

Mortgage brokers - I offer a five year co-marketing program. The incentive is that most loans are refinanced within 5 years, so I send their referrals (written or not) a series of 4 or 5 cards throughout the year, every year for 5 years. These are customized per broker/realtor, signed by the broker/realtor, automated and paid for by me. These are off the wall cards, such as groundhogs day, July 4th, Thanksgiving, anniversary of buying the house, etc. Something unique. Many people do their own christmas/birthday cards, so I skip those. Worse case, with these, I include a $25 home depot card to the person on the first anniversary. To pull this off, automation is the key.

Nothing special. Most of the people I work with just want to know that you'll take care of them, their clients, not steal business, etc. If I get someone who wants to 'commission split' or set dollars, I leave. To many people want to do whats right for their customer, without worrying quite so much about lining their own pocket (granted, making money is why we are all in this business, so some is okay).

Overall, it's about establishing relationships. Nothing more. If you start promising things and don't deliver, you'll lose business quickly.

Dan

 

[Agent Jeff]

My goal is to help them close deals. Both have different things in mind, and I avoid the cash thing.

Car dealers - it's all about getting loans funded. I offer follow through on getting insurance in place, working with the banks to verify coverage, and feedback on the deal. Big dealers won't usually bite, independent dealers will, since getting loans funded is the key to them eating that week.

Mortgage brokers - I offer a five year co-marketing program. The incentive is that most loans are refinanced within 5 years, so I send their referrals (written or not) a series of 4 or 5 cards throughout the year, every year for 5 years. These are customized per broker/realtor, signed by the broker/realtor, automated and paid for by me. These are off the wall cards, such as groundhogs day, July 4th, Thanksgiving, anniversary of buying the house, etc. Something unique. Many people do their own christmas/birthday cards, so I skip those. Worse case, with these, I include a $25 home depot card to the person on the first anniversary. To pull this off, automation is the key.

Nothing special. Most of the people I work with just want to know that you'll take care of them, their clients, not steal business, etc. If I get someone who wants to 'commission split' or set dollars, I leave. To many people want to do whats right for their customer, without worrying quite so much about lining their own pocket (granted, making money is why we are all in this business, so some is okay).

Overall, it's about establishing relationships. Nothing more. If you start promising things and don't deliver, you'll lose business quickly.

Dan

Tremendously helpful post. Thanks!

 

[I&FAdvisor]

Excellent advise on building relationships and keeping promises. When a client realizes that you are there to offer sincere help and a product that best suits his/her needs, loyalty results. Too many companies are just pushing a "sale" and not really advising. Producers entering just to make money now from a sale that does not benefit the client will certainly lose the residual income from future business. Being in college full time for Accounting & Finance, while trying to run my own business certainly will not be an easy task, however it will not be impossible. In order to succeed I know that gaining the trust of my clients will be one of the essential keys.

Great networking strategy with real estate agents, brokers, and dealers too! That is an abundance of leads if you market yourself right.

Thanks for the tips!

 

[WiseFS]

My goal is to help them close deals. Both have different things in mind, and I avoid the cash thing.

Car dealers - it's all about getting loans funded. I offer follow through on getting insurance in place, working with the banks to verify coverage, and feedback on the deal. Big dealers won't usually bite, independent dealers will, since getting loans funded is the key to them eating that week.

Mortgage brokers - I offer a five year co-marketing program. The incentive is that most loans are refinanced within 5 years, so I send their referrals (written or not) a series of 4 or 5 cards throughout the year, every year for 5 years. These are customized per broker/realtor, signed by the broker/realtor, automated and paid for by me. These are off the wall cards, such as groundhogs day, July 4th, Thanksgiving, anniversary of buying the house, etc. Something unique. Many people do their own christmas/birthday cards, so I skip those. Worse case, with these, I include a $25 home depot card to the person on the first anniversary. To pull this off, automation is the key.

Nothing special. Most of the people I work with just want to know that you'll take care of them, their clients, not steal business, etc. If I get someone who wants to 'commission split' or set dollars, I leave. To many people want to do whats right for their customer, without worrying quite so much about lining their own pocket (granted, making money is why we are all in this business, so some is okay).

Overall, it's about establishing relationships. Nothing more. If you start promising things and don't deliver, you'll lose business quickly.

Dan

I just realized that this was posted in 2007, but it's still extremely useful today.

I called 2 real estate agents, 1 loan processor today and they are all excited about doing a co-marketing partnership.

I'm just curious Dan if there is a service or company you used to mass produce quality cards or how you went about that process.

I think this process is simple and still useful but I'd love to hear more about how some people refer business with other professionals.

I will post my updates.

 

[cdrsisko]

Hello all- I am very new here in the forum. This is my first actual post though I have been "monitoring" for some time. I am in the New York Metro Area and like so many others I considering the Allstate Exclusive Agent arrangement along with the possibility of going American or Independent. I know there are ups and downs associated with any move and nothing will be perfect. What I am looking for is some up to date in 2016 thoughts about all these possibilities? Allstate seems pretty good to me BUT I have an additional interest in Commercial (CPP) BOPs and other insurance lines like EPLI and Professional Responsibility. My background is in the insurance industry but ALWAYS on the backside (that is arguing claims on behalf of my clients and employees etc). Can anyone point me in the right direction to find non-biased or independent opinions about the quality of opportunities? Also any suggestions for me in terms of "selling" for someone who needs a starting point within the industry?

Note to Gil: Where are you located geographically?

Thanks for speaking up folks!