Is 70% commission reasonable? I submit about 1 app per week on a part time basis, ready to go full time and curious if 70% is street level. I have seen higher on here, but I am assuming that is for more seasoned and higher producing agents. Any thoughts or advice will be appreciated. Thanks.
Is 70% Commission on Term Reasonable
- Thread starter Go Green
- Start date
- 5,056
What are you getting besides that super low commission?
- 8,707
Yes and No....I have seen commission that low if all you are doing is getting the particulars and passing it off to another entity to do the app, get the paramed and follow up on the sale....If you are doing all that and submitting 1 app a week I would be asking what it would take to increase your commission or look on this formum I'm sure some IMO will be extending a higher contract to you soon.
- 159
My simple answer is NO...70% is not what I consider to be a "street level" contract.
That being said, if your getting tons of support, training and leads at no cost to you with this contract and your new, I totally understand.
Otherwise, as long as your not captive, feel free to contact me if your interested in a better contract.
Marker77
Expert
Keep in mind that there are different payouts for different types of products. A 20 or 30 year term will normally pay the highest- ie. 80%-90% or higher, 15 year term- a few points lower than the 20 year term, and 10 year term- a few points lower than than the 15 year term.
The levels usually have to do with the level of support you receive from your MGA- no support= highest payout, case management- a little smaller, and full support (you only sell-no follow-up)- this one is like you hiring an assistant as the MGA will do everything.
If you have more questions, PM me.
Hope that helps.
- 1,802
I would guess that the first question should be:
What company are you writing with?
What company are you writing with?
- Thread starter
- #7
- 159
That sounds okay, but you might be able to get a higher contract considering your buying your own leads.
Also, are you only selling Term, or do you offer any other products?
ScottHCO
Expert
- 79
70% seems very low to me.
We pay our agents 90%-105% to start. Agents buy their own leads, but we supply them with a free quote engine, online application submission and tons of support. We also order the parameds for them.
We pay our agents 90%-105% to start. Agents buy their own leads, but we supply them with a free quote engine, online application submission and tons of support. We also order the parameds for them.
- 159
Now that's a better deal!
