I Need Your Opinion on Recruiting

[Josh]

Without reading the OP, just the title ,I'm going to say don't do it.
- - - - - - - - - - - - - - - - - -
Yip ,stand by the don't do it. Looks good on paper, but recruiting isn't for everyone, usually a LOT more headache than it's worth, especially if you are doing well on your own to begin with.

 

[gordon112]

Without reading the OP, just the title ,I'm going to say don't do it.
- - - - - - - - - - - - - - - - - -
Yp ,stand by the don't do it. Looks good on paper, but recruiting isn't for everyone, usually a LOT more headache than it's worth, especially if you are doing well on your own to begin with.

Agree 100%, and I usually only agree 99.9% :

 

[Mark]

Most IMO or MGA will tell you that the number one problem we all face is debit balances. We co sign for advancing and when the agent does not pay it back, they come after us for it.

A lot of people think all you have to do is sign up people. There is a lot more to it.

 

[gordon112]

Most IMO or MGA will tell you that the number one problem we all face is debit balances. We co sign for advancing and when the agent does not pay it back, they come after us for it.

A lot of people think all you have to do is sign up people. There is a lot more to it.

That was my issue hiring, we had an agent that wrote over 20k in ap on bogus business that all lapse. We had to hire a bodyguard, bounty guy, 6foot5 285lb dude...worked well, we re-cooped about 55% of the money minus what we paid him.

 

[gravel]

i just confirmed agian (for the third time) that I am not responsible for the debt and my renewals are 4% even if sub agent leaves. Even though I dont order many it has been my experience that on 1000 mailers I am getting 15 leads.

 

[Josh]

i just confirmed agian (for the third time) that I am not responsible for the debt and my renewals are 4% even if sub agent leaves. Even though I dont order many it has been my experience that on 1000 mailers I am getting 15 leads.

You're going to be working for peanuts.

Who is liable for the debt? Who is telling you that you aren't?

 

[gravel]

KIm Keleman at Sl and Steve Enoch have both confirmend that I am not resposible for the debt. Why do you say I will be working for peanuts? I've done the math.
- - - - - - - - - - - - - - - - - -
THe carrier will be responsible for the debt.

 

[gordon112]

KIm Keleman at Sl and Steve Enoch have both confirmend that I am not resposible for the debt. Why do you say I will be working for peanuts? I've done the math.
- - - - - - - - - - - - - - - - - -
THe carrier will be responsible for the debt.

If this is the case, where do I sign?

 

[pbbaseball]

yep, beware the debt roll up... if you can get in writing that you aren't responsible, then they are getting you somewhere else

 

[Josh]

KIm Keleman at Sl and Steve Enoch have both confirmend that I am not resposible for the debt. Why do you say I will be working for peanuts? I've done the math.
- - - - - - - - - - - - - - - - - -
THe carrier will be responsible for the debt.

I very much doubt the carrier will eat the debt, they're almost always going to go through the upline until they get someone to pay.

Yes, working for peanuts. Have you trained agents? Have you managed them?

By all means go for it, but if you manage to have it be more productive than you actually out selling it would be exceptional. More often than not there is so much babysitting and minutia involved with recruiting agents, it's just not worth it.

Let's go back to the numbers:

They submit $4k in premium (big if to begin with) then you'll spring let's say $400 or so for the 1,000 mail drop. Why wouldn't they just pay for their own leads and then, all things being equal, end up making more. It's not difficult to get more than a 100% contract on FE, not to mention there is no one stop shop for FE, so they're going to need a few different ones.

Doesn't seem like a compelling value proposition, doesn't sound like much of an override, and it sounds like a huge time drain.

If you want to do it, you should do it. Even if it ends up being a disaster it'll still be a great learning experience and maybe sometime down the road when someone comes onto insurance-forums.net you can share your experience with them.