Ins Agents. Why Bottom 10% Earn $27,430. Top 10% Earn $128,070?

[rousemark]

It has less to do with how hard agents work than with getting with a proven system and being coachable.

And it's not just CSR's making the low end. There's many so called independent agents in that low end.

I know a guy that could be a terrific agent. But he's failed out with most life IMO's. Whether term or FE. Not because of work ethic, he's a working fool. But he won't listen. He thinks it's luck that other agents make sales off the same leads he can't. He does quite well in the MA field. But that's not selling.

We had a lady on our Friday call and it's obvious she's not going to make it. She already knows too much to help. Said she's been in the business 30 years. I don't know how she did in other fields but she is not going to make it FE. But to hear her describe her work week it has nothing to do with not working hard.

If an agent will chose their field and then go to work with agents that are successful in that field and just do what the successful agents are doing, they will make it.

When I got into this business I knew absolutely nothing about selling. Not just life insurance, nothing about selling period. And I knew less about life insurance.

But I accepted that fact and followed the system I was taught to the letter. I hated parts of that system and thing I was taught to say to prospects. But I did it anyway because I didn't know any other way.

It worked. Much to my surprise I made sales saying those things I hated.

Over time I developed my own system and I dropped the things I didn't like saying. But 14 years later there's still parts of that first system that I still use.

Had I been like that lady on our call Friday I would not have sold out to what I was being taught and I would be doing something else now.

The hardest thing about trying to train an "experienced" agent is getting them to unlearn their bad habits..

 

[DHK]

I'm STILL trying to unlearn bad habits.

 

[NuUzr]

So, what were a few of those things you didn't like saying..?

 

[VolAgent]

The hardest thing about trying to train an "experienced" agent is getting them to unlearn their bad habits..

Half the reason some IMOs and GAs target newbies or unlicensed people. They don't have to untrain them first.

 

[10X]

This is what all those "never cold call again" and "referrals only" training books are missing! They view cold-calling as an act of desperation, when the reality is that you're offering your professional help and expertise.

You just need to get out of your own way to do it.

That's some great insight!

 

[BADTROUT]

Most unsuccessful people work a lot harder than the ones that make the big bucks... Look at Shelley Levine and Ricky Roma on Glengarry Glenross. Over the top example, but confidence is the differentiating factor. I think you need a little bit of a chip on your shoulder, I think you need to be able to direct your client, versus allowing the client to direct you.

How quickly we forget that we are the experienced licensed professional, when we ask our clients, do you need... and how quickly we turn into price whores when we say can i quote your insurance to get you a cheaper price.

Consult, do the right thing always for the client and remember YOU are the professional, and you will be highly paid for your expertise. If you are a price shopper that allows your client to dictate to you... then you will rise to mediocrity at best just by stubbornness, but more likely your out of the business before too long.

Imagine if you went to the doctor saying your side hurt, and the doctor asked what you thought the treatment should be... or if maybe you'd like an xray?

ZERO confidence in the Dr. You would look for one that said, lets do this test and lets rule out the serious stuff, etc etc

PEOPLE RESPOND TO PROFESSIONAL DIRECTION.

2 cents... I'm out.

 

[DHK]

You're right. That's why selling is NOT about "relationships" as discussed by Harvard Business Review:

https://hbr.org/2011/09/selling-is-not-about-relatio

 

[jboussea]

I'm surprised at the low number of the top 10% ... 125k doesn't sound like much for the top 10% of anything.

 

[BADTROUT]

Big difference between the 10th through 2nd percent, and the 1% at the top. This likely doesn't contemplate agency owners as much as producers.

 

[uptown]

I believe it comes down to more than work ethic. Its your business model. What are you doing to generate leads and what is your conversion rate. What is your average premium and retention rate. Who is your target and how do you get them to respond to you. It comes down to a niche and being an expert at it. That is how I generate 40 to 60 leads per month to be in the top 10 % in production.