I Need Your Opinion on Recruiting

[GMDM100k]

How do you come up with these figures being needed to make a profit?

If his agency writes 100k then that would be around 15k he is advanced. Assuming he is getting advanced 75%. When I started I worked out in the field with a new agent everyday 5 days a week. Gas is crazy high in CA. I spent a ton of money every month just on training and lunches.

Not including if he opens an office an hires a secretary. 15k a month to support an agency isn't that much to work with.

These expenses are what I experienced. I'm sure its possible for him to cut expenses and spent less but his production wouldn't increase as fast in my opinion.

 

[Daytona_Guy]

I am not responsible for their debt

Had this company when I first started in FE.
Not attractive as an FE product much at all, and this lack of responsibility for downline debt was proposed to me then, too. I confirmed it with them as they said this was their most attractive feature for bringing in recruiters.

I just never got any sizzle from their product compared to the rest of the marketplace as to what would sell and stay on the books with competitive rates and other (fraternal) benefits, etc.

It is good for that one reason, though. One crappy agent that writes bad business can take away a lot of otherwise good overrides.

 

[gordon112]

Had this company when I first started in FE.
Not attractive as an FE product much at all, and this lack of responsibility for downline debt was proposed to me then, too. I confirmed it with them as they said this was their most attractive feature for bringing in recruiters.

I just never got any sizzle from their product compared to the rest of the marketplace as to what would sell and stay on the books with competitive rates and other (fraternal) benefits, etc.

It is good for that one reason, though. One crappy agent that writes bad business can take away a lot of otherwise good overrides.

I second that, it only takes one bad apple to crack the barrel. Today is even harder then it was to find quality agents just 10 years ago that have some decent history in paying debt. I also have found some that couldn't get licensed for filling bankruptcy in the past. It is becoming a needle in a haystack and the older agents are nearing retirement. We have to find the young guns and seasoned vets willing to work hard.

 

[gravel]

The main theme I am getting is that my offer isnt all that good to attract good agents. Would it be better to offer a higher commission with training, contests, etc. (They will always get 1000 mailers for every 4k in AP through Sl.) I can do away with the 4 mailers for 8k AP. Also, I can be paid as earned to elimimate chargebacks to cut my overall yearly overhead. My wife and I own a food concession business we run May thru Sept that we can live on. (Its a funnel cake business if anyone is curious). As mentioned before I can offer contracts through RNA, Settlers, and Motorists.

 

[gordon112]

BEWARE! This person can't be trusted!

Thanks for the advice....he sent me some private messages

 

[TDFnCali]

I have been selling final expense for three years in nw Ohio averaging $5200 a month in AP. I get all of my leads from funeral homes, accountants, and two local insurance agents. I give them p&c leads and they give me their final expense leads. I have the opportunity to become a mga for Standard Life and Accident. With the contract I have from them I will be able to offer subagents a 100% contract with a free 1000 piece mailer (probably from lead concepts) for every $4000 in AP they do. The $4000 does carry over from month to month for them. After 9 months if they hit $8000 a month I will give them 4 free 1000 piece mailers. I am not responsible for their debt but I would of course have my portion of their chargebacks.What I want to know does this sound fair to the subagents and me for that matter. My contract is for 120% and SL and Accident will participate in lead costs. Thank you.

Hey, Ive heard of this before....but how did u make that connection with the funeral home?? What do they get out of it? I would like to get leads from funeral homes, but have know idea how or whats in it for them?

Thx!