- 4,095
What product has that these days?
Is there a Final Expense IMO/FMO that truly allows you to be fully independent?
- Thread starter pgatour
- Start date
- 5,299
We don't have a brokerage path anymore. We did in the beginning, but agents would treat the free lead program like a temporary destination when in fact it was the end goal.
A critical error many make is:
1. Not considering the free lead system's impact on optimizing agent performance and,
2. Drilling everything down to commission percentages alone.
I made this mistake for years myself and thought along the same lines as you all do. Hell, I even trash talked free lead programs in my first book back in 2016.
One last thing. The final expense forum is undeniably full of tough-minded, lone-wolf salespeople. Because of that, there is an obvious echo chamber of similar-minded people. The fatal mistake I realized is thinking that all agents should think or operate in the same manner.
- 4,095
I’m sure you heard a lot of “can i start on free leads”
- 17,052
At least when Dave becomes a billionaire we can get the politicians to tax him to death and give all of us FREE stuff like they promised.
#Winning!
American amicable 130% and 8.5% renewals . So the 150% contract is 10% ish .Rna 130% and 8% also . Trinity 120% and 10.5% yrs 2 and 3 then 8.5% yrs 4-10. Foresters 135% and 8.25% . Sbli 130% and 7.75 . So the 150% on those are 9-10% . Of course the cica and trans are terrible renewals . You got a big agency of 100 agents making 40-50% and no are little renewals that’s huge revenue as the yrs stack . Again we’re talking the motivation behind free leads . 2 motivations behind free leads . You give someone $1 in free and net 50 cents in overrides . With old style override you net 15-20% . But with the free leads additional huge yr 2-10 overrides . Also a very basic analysis.Overall the guy being feed free leads will do 2 times the vol of the avg guy who buys his own leads . So that’s massively more override per agent . Again the business minded long term agent won’t go this route . But 70% plus agents will be attracted to this . As Dave says this is a very tiny part of the ins world on this board . Very few agents think like this
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- 4,095
You’re assuming direct carrier contracts to get the renewal amount. Very few people here think of things larger than the personal producer perspective too.
- 4,827
I think Dave has a good operation going. One thing to remember is that if an agent gets their leads for free they could make less effort in contacting the lead than if they paid for it. I believe his kixie dialer is what helps remove the lack of effort with free leads.
You asked me what type overrides are out there . And I totally disagree many of these are direct carrier contracts . Scott’s spoken many times how he was under efes on some contracts tu piggy back there production and get the highest contracts . They were happy making a nickle on him . Outside small CO’s like Trinity , kskj etc many of these “ imo’s “ piggy back big Fmo’s who have the highest production and contracts No different than 1000 agents have asked “ I want a contract direct to carrier” . The answer is always you’ll get a higher contract piggy backing an fmo with no pressure to produce .
- 4,095
150/10 isn’t far off from probably being right on most top carrier deals I’m not disagreeing with you on that. But knowing the number and actually having the Contract are two separate things.
- 931
To clarify, most agents work part time with us - even the successful ones. The vast majority of successful agents rarely put in a 9-5 day consistently. I interviewed 10 agents netting six-figures plus a few months ago and I'd say 75% of them are working 5-6 hours/day.
All that to say - we do not require you to be full time. We just want this business to be your main income source if we're going to pour into agents.
I'll make sure our messaging is more clear.
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