Does an IMO/FMO make their income needed to sustain their business model from the insurance carrier's contracts? Or do they make money off of the agents that work under them?
I realize both could be sources of income, including training courses and lead generation, but based off of the research I've done it seems to me that if a company is pushing you to recruit right off the bat it's a bad company. Also if they charge a ridiculous amount of money for training then it seems like a scam... Another thought is that if a company encourages you to only buy leads from them and only rely on their leads then that is definitely something to watch out for.
I'm asking general questions because I'm new to the insurance world, but I feel like if I understand more of what the business entails then I can grow to be the best agent I possibly can be.
Last thought. Why would a successful agent choose to open an agency when they were already making a good income being a producing agent? More money? Higher goals? Managing versus producing?
I've noticed that this business is full of people that want to take advantage of the ignorant. I presume that happens in many different businesses worldwide. Sad...
I realize both could be sources of income, including training courses and lead generation, but based off of the research I've done it seems to me that if a company is pushing you to recruit right off the bat it's a bad company. Also if they charge a ridiculous amount of money for training then it seems like a scam... Another thought is that if a company encourages you to only buy leads from them and only rely on their leads then that is definitely something to watch out for.
I'm asking general questions because I'm new to the insurance world, but I feel like if I understand more of what the business entails then I can grow to be the best agent I possibly can be.
Last thought. Why would a successful agent choose to open an agency when they were already making a good income being a producing agent? More money? Higher goals? Managing versus producing?
I've noticed that this business is full of people that want to take advantage of the ignorant. I presume that happens in many different businesses worldwide. Sad...