The question is actually quite rediculous. The business is straight commission and you have to source/pay for your own leads. There is no limit on what you can make your first 3-6 months but you can easily make zero. The insurance industry has a ~90% fail rate.
Income Year 1 Expectations
- Thread starter dengle1962
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The question is actually quite rediculous. The business is straight commission and you have to source/pay for your own leads. There is no limit on what you can make your first 3-6 months but you can easily make zero. The insurance industry has a ~90% fail rate.
Todd is correct. Expectations mean diddly-squat! Averages mean nothing. There is no true predictor.
MNAgentOpportunity
New Member
Do your homework first and foremost. Don't fall for a sales pitch. They promise the world and try to make things easier for you up front with subsidy loans, etc. Those loans are interest free and forgivable to those who do a certain level of production. They will make that level sound easy, but ask around and find out how many are actually being forgiven that subsidy and how many are repaying it. In MN, most are repaying it.
As a former captive I will tell you that in my experience you are better off not selling your soul for subsidy and doing the extra up front to reap the rewards in the future. I've met far more veteran captive agents who wish they were independent than are happy being captive.
Good luck!
As a former captive I will tell you that in my experience you are better off not selling your soul for subsidy and doing the extra up front to reap the rewards in the future. I've met far more veteran captive agents who wish they were independent than are happy being captive.
Good luck!
- Thread starter
- #25
dengle1962
New Member
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What is the link for the Agents and Quotes website? I am in Denver, Colorado btw. From what I am being told, I am going through a background check first and then see where it goes from there. I would be based out of the district office for a time and then eventually open my own shop.
Thanks for the help.
Thanks for the help.
- 8,707
Very good and true answer. The failure rate is high. If you are buying leads you can have a large expense every week figure $25 per lead and if you are getting 20 per week that is $500 per week before costs to get to your appointments and making sales.
Also your annual figure will be misleading as your income will ramp up as you become more experienced and as you get referrals etc.
I am a new Farmers agent also as of November 2013. I am not replying on which is the best way for you to go indy or captive but if you were offered a choice of retail or traditional agent I hope you chose retail. My wife and I chose the retail option which we were given financial assistance on office reimbursement and lead reimbursement for the first two years plus other ways to help offset some of the cost of being a startup and help build our book of business up. Are there people in Farmers killing it right now. Yup top performers would be top performers with any insurance company there are also people that are really struggling and will be out the door in 6 months. If you need to make $xxx amount a month this might not be the business for you because it takes some time. Sales are up and down and until you find your groove on what is working for you it might be some time before you are actually profitable.
- 1,581
buying leads will contribute to sales...but it's not a long term solution. Farmers, Allstate, State Farm etc will subsidize leads and everything else BUT buying leads should NEVER be your business plan. referrals....referrals...REFERRALS!!!!!
This business is easy...get yourself in front of people, don't be a dbag (like Todd02...) know your product, know your competitors products, respond timely, relentlessly follow up, never take no for an answer, create a value proposition that's way above the next fool with a 20k/year earning CSR, introduce yourself to realtors/mortgage brokers, follow up after the sale with said realtors/mtg brokers, DONT RELY ON LEADS, work hard, work the phones, work cancellation audits, work X dates on dead referrals, stay somewhat literate in your social media, don't be a dbag like Todd02, connect with the PERSON, service your clients well, cross sell your book, touch your clients a few times/year and NAG DAMNIT WALK WITH THE SWAGGER OF AN INSURANCE AGENT who kills it!!!!!!!!!!!!!
todd02 sucks.
This business is easy...get yourself in front of people, don't be a dbag (like Todd02...) know your product, know your competitors products, respond timely, relentlessly follow up, never take no for an answer, create a value proposition that's way above the next fool with a 20k/year earning CSR, introduce yourself to realtors/mortgage brokers, follow up after the sale with said realtors/mtg brokers, DONT RELY ON LEADS, work hard, work the phones, work cancellation audits, work X dates on dead referrals, stay somewhat literate in your social media, don't be a dbag like Todd02, connect with the PERSON, service your clients well, cross sell your book, touch your clients a few times/year and NAG DAMNIT WALK WITH THE SWAGGER OF AN INSURANCE AGENT who kills it!!!!!!!!!!!!!
todd02 sucks.
- 676
What? You don't like my answer? I thought it was pretty good.
Lol coming from the guy who "has a friend to investigate my success and Farmers" and completely got caught lying about it. Annnnnd Facebook stalked me. You're such a f'n loser, hhabahaha. Love it. If swagger is a kid living in his moms basement getting off to my Facebook, you sir hit rock star status! And I'm not talking about guitar hero. Lmao.
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