Integrity buys another one.

[goillini52]

There are several right here on this forum that 10 years ago they had never sold an insurance policy that are now apparently doing well having done just what is promised by these outfits.. Maybe not with them but they have worked the same system.. They learned to sell the product and then started recruiting and teaching their recruits their method.. Are you saying that the people that are contracted under you cannot achieve what you have?

Yep. Ben Boman/EFES and Matt Mungia/The Insurance Squad, both stopped off at NASB on the way to where they are.

 

[NSRH]

I guess the point is that most of the industry is already MLM.

Layers under layers.

And the Indy agents really aren't making it.

As an industry most will quit.

Maybe the MLMers are just being honest about the setup, while all the Indy groups are plugging agents into an MLM format and not telling em.

 

[KOC Agent]

It's Fool's Gold. I've never seen as many people fall for it as there are today.

The pitch is that you sign up today at 100% and then bring on your buddies at 90% and they bring on their buddies at 80%, etc They pitch to them that they are building a team of producers that they will manage and make all these over rides on. The story is that it is the only way to work yourself out of the field and retire someday. Suckers bite on this pitch left and right. They WANT to believe.

In reality those agencies came up with a perfect plan to make themselves rich. They figured out how to recruit massive amounts of agents at very low commission levels, insulate themselves from much of the debt and have a revolving door of Suckers to resell the same uninterested leads to over and over and over.

The poor guys who fall for this NEVER seem to know they are co-signing huge loans for their down line of fellow suckers until it's too late. They think they are on the hook for the over ride they made off the downline. Not 10 to 20 times more than that. Until they have the reality of $20,000 in debts hit them from an agent that they only made $1000 on.

I can't tell you how many times I have agents tell me the sad tale of WHY they are broke and vectored and have bill collectors all over them. They are desperate to get appointed with someone and try again. But they have a huge mess to clean up. And yes, they are the victim, not the bad guy but they blindly fell for it and need to clean it up before they can start over cleanly. It's sad. But there are new ones born every minute.

I've heard that due to inflation there are now two of them born every minute.

Sadly many of these new agents are meeting their uplines who at the 70% or 80% levels themselves. Not a lot of room to grow from there.

 

[Newby]

Sadly many of these new agents are meeting their uplines who at the 70% or 80% levels themselves. Not a lot of room to grow from there.

Yes. If agents are accepting sub-standard commission levels and falling for recruiting pitches rather than getting into this business with the goal of actually selling insurance, they are doomed to fail.