Is a IMO Needed for New Agents?

[415]

Background: i have had my life license for 4 months now and have been working with a IMO. i am typically averaging 20-30k AP each month. My question is if i were to branch away from the IMO what would it take for me to get contracted with the Carriers? Besides the training and having someone there to get help when i need it is a IMO needed for a new agent to continue to be successful?

 

[GreenSky]

Just curious. You are with an IMO right now that trained you and after 4 months you want to leave? How much of your commission is he taking?

Rick

 

[415]

I am receiving 75% commission at the moment next month will be 80%. Im not necessarily thinking about leaving as i know the grass is not always greener on the other side. Just through reading a lot of threads on here it seems a lot of agents are out on there own

 

[DHK]

75% is not a bad payout - especially with training and some hand-holding. And since you're generating $20-30k per month... you've got a good thing going on right now - especially with only 4 months in the business.

Here's the deal though: usually you have to stop writing business with your carriers for 6 months before you can be re-appointed with anybody else, or direct.

 

[GreenSky]

I am receiving 75% commission at the moment next month will be 80%. Im not necessarily thinking about leaving as i know the grass is not always greener on the other side. Just through reading a lot of threads on here it seems a lot of agents are out on there own

If you're talking about final expense, I think typical street for most products would be about 110-115%. Some might be higher, some lower.

If the IMO is paying for leads, overhead and training, I don't think you have a bad deal. At some point you "cross-over" and don't need the help. At that time you can ask and should get full agent commission and pay for everything. The IMO gets his override and both of you do well.

Rick

 

[415]

Thanks for the input guys. Currently i am buying my own mail drops through a mailing company. Training consist of monthly meetings,online videos and weekly conference calls. I can achieve up to 110% commission from a sales stand point and up to 140% from a agency builder standpoint.I really like the guys i work with and its a close nit group. was just looking for some validation from some of you senior members on here.

 

[goget]

Lol how does one get to 20-30k of life after only 4 months unless people are lining up at the door to buy? Are you giving away free gold bars?

 

[415]

Lol how does one get to 20-30k of life after only 4 months unless people are lining up at the door to buy? Are you giving away free gold bars?

My first month i had 15k AP. Im buying brand new mortgage protection leads. Im booking a minimum of 15 appointments a week, typically sit down with 12 and sell 8-10. My average monthly payment is $100-125. Ive had a few home runs of people paying upwards of $400+ per month. simplified issue term and return of premium riders.

 

[Newby]

Background: i have had my life license for 4 months now and have been working with a IMO. i am typically averaging 20-30k AP each month. My question is if i were to branch away from the IMO what would it take for me to get contracted with the Carriers? Besides the training and having someone there to get help when i need it is a IMO needed for a new agent to continue to be successful?

If you are 4months in and averaging $25,000 AP I wouldn't change a thing.

But most IMOs start FE agents at 115% average commission. So there must be some reason why you are at such a low level.

 

[Glen Shelton]

I am receiving 75% commission at the moment next month will be 80%. Im not necessarily thinking about leaving as i know the grass is not always greener on the other side. Just through reading a lot of threads on here it seems a lot of agents are out on there own

High AP + Lower Commission = Mortgage Protection