i.m.o

jonathan b

Expert
65
Hear a lot of grumbling about i.m.o's on this site. I asked my guy if I could get a release upfront from him and he started griping. He explained that the commissions and the renewals are mine so why would I need the release.Now i had a 4 yr vacay from having a stroke. Now i definitely won't be needing training. I always was in the belief that commissions have away of taking care of itself. So if my i.m.o. isn't providing training what do they do? How are they paid? He told me they get a pittance for the apps I put through.I'm promised 110 % +6 % renewal. I have relationships with other companies that will hire me besides what he has given me. The contracts don't pay as much up front but the renewals are better. Just wondering
Thanks for all the help
 
I too have had some IMO issues. I'm sure they have a use. I know one fellow who gets some discounts on leads and his agency has a Christmas party. Other than that, he's just out there selling insurance.
 
We’ve talked before with what you’ve said here I think you need to try things on your own and see what happens. Asking for a divorce at the wedding may not have gone over well with that guy.
 
It's less asking for a divorce then asking for a prenup. But it is a tricky conversation still.

Still need to be careful and tactful when you ask for the prenup. At the altar and to someone who may not even understand the concept usually doesn't go well.
 
I don’t need an imo at all for training or motivation, etc. I also have my FE contracts spread around so I’m not locked up with any imo, so it doesn’t matter so much if they’ll release me in future. But if you need leads, an imo is often the best place to get them because they often have incentive programs to help you cut your lead costs. But in order to get on the lead program, they’ll usually want you to have most, if not all, of your contracts under them.

Other than that, they can be useful for keeping me up to date on new products or companies, or changes to existing carriers, etc.
 
I don’t need an imo at all for training or motivation, etc. I also have my FE contracts spread around so I’m not locked up with any imo, so it doesn’t matter so much if they’ll release me in future. But if you need leads, an imo is often the best place to get them because they often have incentive programs to help you cut your lead costs. But in order to get on the lead program, they’ll usually want you to have most, if not all, of your contracts under them.

Other than that, they can be useful for keeping me up to date on new products or companies, or changes to existing carriers, etc.
The fairest way to handle leads is if you produce X number of business, you are allowed to buy x number of leads through them. That way it doesn't matter if you have only one or all your contracts through the IMO, they still get the business they need to be profitable..
 
At some point you need to stop shopping for the answer pick a place, get leads and go to work. This is borderline paralysis by analysis.
 
The fairest way to handle leads is if you produce X number of business, you are allowed to buy x number of leads through them. That way it doesn't matter if you have only one or all your contracts through the IMO, they still get the business they need to be profitable..
I agree. But how many IMO's work that way? My impression is that would be the exception, not the rule, especially if they're subsidized leads. However, I haven't used IMO leads for many years (other than the aged leads EFES wholesales to noncontracted agents). Things may have changed since the last time I looked into it.
 
Hear a lot of grumbling about i.m.o's on this site. I asked my guy if I could get a release upfront from him and he started griping. He explained that the commissions and the renewals are mine so why would I need the release.Now i had a 4 yr vacay from having a stroke. Now i definitely won't be needing training. I always was in the belief that commissions have away of taking care of itself. So if my i.m.o. isn't providing training what do they do? How are they paid? He told me they get a pittance for the apps I put through.I'm promised 110 % +6 % renewal. I have relationships with other companies that will hire me besides what he has given me. The contracts don't pay as much up front but the renewals are better. Just wondering
Thanks for all the help

If he has started griping right off the bat, then I would look elsewhere.

Commissions do take care of themselves...unless you have chargebacks and not enough business on the books. In the FE world, that can most definately happen!
 
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