Input from Newer State Farm Agents (last Couple of Years)

[lingling]

I am looking into a position with a local SF agency to be an agency manager and learn the insurance business. After my time there I will go through the State Farm process to own my own agency. I've read through some other forums and I've met with some other local agents and their answers varied greatly.

What I'd like to hear is how you got involved, i.e something similar to what I'm potentially going to do or straight through the SF process and how much time you worked starting out compared to how much you work now. If you could include how long you've been an agent that would be helpful too. Also, would you recommend someone with two small children to do this? Honestly the time that is being projected isn't doable for me, I've been told to expect to work 60-70 hours a week for the time I am the agency manager. I don't understand why so many hours.

Thanks in advance for your time.

 

[popeye35]

I've been with State Farm working under an agent for 2 years. He was a brand new agent when I started. First of all, you won't be a manager, you will be a business owner. You don't technically own the business until you prove yourself and get your permanent contract, but you need to view it as ownership because you will spend a ton of money on paying team members, leads, referrals, rent, etc.

Secondly, you might have to spend 60-70 hours, or you might not. It depends how you run things. My agent did a good job of hiring 3 team members who all do a really good job with sales. Therefore, he does not have to do a lot of sales himself, and he does not have to be here as often. On the other hand there is a new agent down the street, and I know that she works around 70 hours a week. She only has her and her son at the office, and she does a ton of selling herself. She is a great saleswoman, but she is not very good at delegating tasks, and inspiring her team. She started with 3 team members but she did not hire very well and she let go the other 2. She still is one of the top new agents, but she has to work her butt off.

I personally would prefer to do it the way that my agent did. I do want to warn you that there are some serious sales requirements to being a new SF agent. If you don't hit certain numbers in your first year, they will not renew your contract. If that happens you are out of luck. All the money you spent is down the drain. Another agent nearby had this happen to him, and he had to file bankruptcy. I'm just telling you this because you better have all your ducks in a row if you want to start and you better be ready to hit your numbers. SF doesn't play around in that area. They warn you ahead of time though, so you will know what is expected of you.

 

[lingling]

Thanks for the reply and advice. My situation is actually that I would be a manager at first, in another agents office. He is doing a mentorship program and I am his first pick. So for 1 to 2 years I will be on his payroll, essentially doing his job but without the risk. I will have a quota of sales to meet. This will all help me to see if I could do it on my own. However he is also going to hire an intern to work for me and he has two staff members that can help me, not with sales quota but anything else. That's why I feel I can do what he needs in 40 - 50 hours, not more...

 

[popeye35]

in that case i would tell you that who cares about how many hours you spend as long as you are hitting your numbers. that is all the agent will care about anyways. i would suggest reading "the 4 hour work week" by tim ferris. His princeples will help you make the most of your time.