Just how High Can Contracts Go??

I posted mine on my website and it cost me more agents than it helped LOL. I don't have a lot of free time on my hands, so I put first year and 2nd year with each company. Agents didn't sign with me and after asking why, it was because I don't pay renewals after year 2 LOL. So I took it down and just send it to anyone that asks.

But any agent signing on with me gets told the levels on the phone, then gets the levels sent to him when I send the contracting link. There is nothing to hide and I give out just as high of contracts as everyone else. I also didn't like it being on my site in case a 200k+ producer looked at it and didn't call me because my contracts are lower than he can get. Or if a company doesn't approve of me posting a certain level and I lose that contract.

I've heard of a marketer on this forum losing contracts from doing things the company didn't approve of, so I figured it wasn't worth the risk. But it is DEFINITELY not because I'm being shady or screwing over the agents. The people that never post here and just PM the new agents are usually the ones screwing agents.
 
I posted mine on my website and it cost me more agents than it helped LOL. I don't have a lot of free time on my hands, so I put first year and 2nd year with each company. Agents didn't sign with me and after asking why, it was because I don't pay renewals after year 2 LOL. So I took it down and just send it to anyone that asks.

But any agent signing on with me gets told the levels on the phone, then gets the levels sent to him when I send the contracting link. There is nothing to hide and I give out just as high of contracts as everyone else. I also didn't like it being on my site in case a 200k+ producer looked at it and didn't call me because my contracts are lower than he can get. Or if a company doesn't approve of me posting a certain level and I lose that contract.

I've heard of a marketer on this forum losing contracts from doing things the company didn't approve of, so I figured it wasn't worth the risk. But it is DEFINITELY not because I'm being shady or screwing over the agents. The people that never post here and just PM the new agents are usually the ones screwing agents.

Once upon a time I posted above street level contracts for UHL. I posted it on here. I kid you not...my contract was terminated within 5 minutes of posting that! It was when I was brand new at doing this so I could claim ignorance. They reinstated me but I sure learned a quick lesson!
 
What's fair and competitive? If I give them 10 dm leads a week is 70% fair? Or how about if I give them 50 dm leads a week and have them at 50%? Or is it fair to be normal and give them 110% and make a 30% override with no investment except some time?

If they want to move to a higher contract, that is fine as long as I've made money on them. I've I'm in the whole 2 grand and you use my leads to practice, I'm not releasing you unless you pay me back and that is basic common business sense.

Regarding everything being disclosed should I also tell my agents how I generate my leads and at what cost and how they can do it without me? Also what my contracts are? This info is not their business. Do you also think wal mart should disclose how much every competitor pays? The only thing that matters is they are happy with what they are offered.

Have you ever heard of the free market? That's who decides what is fair and competitive. Not you and not me.

If you give X number of leads and 50% contracts and you have all the agents you can handle signing up, you are at the right level. If you hear crickets then you need to sweeten it up.

Again this is just common sense stuff.

But if your free leads guys want to jump ship when they learn the commission levels of 'buy their own leads" agents, then you are recruiting the wrong agents. You want the free lead focused agents. If you have another option to increase their contracts once they ask for the higher amounts and no leads just do that.

But the whole point is: Agents should be able to find this stuff out BEFORE contracting. It shouldn't be all that difficult for agents to get the info they need to make such important decisions.
 
Have you ever heard of the free market? That's who decides what is fair and competitive. Not you and not me.

If you give X number of leads and 50% contracts and you have all the agents you can handle signing up, you are at the right level. If you hear crickets then you need to sweeten it up.

Again this is just common sense stuff.

But if your free leads guys want to jump ship when they learn the commission levels of 'buy their own leads" agents, then you are recruiting the wrong agents. You want the free lead focused agents. If you have another option to increase their contracts once they ask for the higher amounts and no leads just do that.

But the whole point is: Agents should be able to find this stuff out BEFORE contracting. It shouldn't be all that difficult for agents to get the info they need to make such important decisions.

Well ppl on here including yourself are her quick to bash the low commission model and say the agent get ripped off without knowing all the facts so either your contradicting yourself or common sense isn't so common. Agents can know what's out there by doing research, I'm not Google the only thing I disclose is the opportunity improvise on how they can make money - the rest is up to them.
 
I posted mine on my website and it cost me more agents than it helped LOL. I don't have a lot of free time on my hands, so I put first year and 2nd year with each company. Agents didn't sign with me and after asking why, it was because I don't pay renewals after year 2 LOL. So I took it down and just send it to anyone that asks.

But any agent signing on with me gets told the levels on the phone, then gets the levels sent to him when I send the contracting link. There is nothing to hide and I give out just as high of contracts as everyone else. I also didn't like it being on my site in case a 200k+ producer looked at it and didn't call me because my contracts are lower than he can get. Or if a company doesn't approve of me posting a certain level and I lose that contract.

I've heard of a marketer on this forum losing contracts from doing things the company didn't approve of, so I figured it wasn't worth the risk. But it is DEFINITELY not because I'm being shady or screwing over the agents. The people that never post here and just PM the new agents are usually the ones screwing agents.

Sounds to me that the only thing you did wrong was left some of the info off. That made them think you didn't pay it. Agents don't know how it all works at first.

200+ producers don't fail to call you when your street levels are transparent. Just put that info right on your grid. Call with high levels of production to see what we can do for you.

I just can't see where any agent would think of it as negative. Marketers do. But agents don't.
 
Well ppl on here including yourself are her quick to bash the low commission model and say the agent get ripped off without knowing all the facts so either your contradicting yourself or common sense isn't so common. Agents can know what's out there by doing research, I'm not Google the only thing I disclose is the opportunity improvise on how they can make money - the rest is up to them.

The free lead-lower comp model and the buy your own set price lead-higher comp model, will never be in competition with each other. There is no crossover in regards to the agent.

Agents who are able to buy their own leads buy them, and agents who are not in a financial position to buy their own leads, trade comp for leads. Two totally different systems. Apples and Oranges.

I'm not implying it is a negative or bad model, but simply that model and FEX's model are not competitors for the same agents.

Travis
 
The free lead-lower comp model and the buy your own set price lead-higher comp model, will never be in competition with each other. There is no crossover in regards to the agent.

Agents who are able to buy their own leads buy them, and agents who are not in a financial position to buy their own leads, trade comp for leads. Two totally different systems. Apples and Oranges.

I'm not implying it is a negative or bad model, but simply that model and FEX's model are not competitors for the same agents.

Travis

I agree. Just to sum this up (going back to Todd's original statement) posting commissions online can hurt the agency below you. If one of my agents were to go on the website. According to newby, you don't recruit agents that want to build a a downline and that I'm not transparent because I don't share what my override is. Again not saying FEX is wrong, I'm saying it's wrong for me and probably for other agents that have a team.
 
I agree. Just to sum this up (going back to Todd's original statement) posting commissions online can hurt the agency below you. If one of my agents were to go on the website. According to newby, you don't recruit agents that want to build a a downline and that I'm not transparent because I don't share what my override is. Again not saying FEX is wrong, I'm saying it's wrong for me and probably for other agents that have a team.

Willie, it's nothing personal. You are doing the same thing that numerous agencies do. I just think the insurance industry is set up in a bad way. I think agent's should not recruit at all until they have produced enough and long enough that they have earned recruiting level contracts. And they can put the guys they recruit at high contracts themselves.

I have no problem with your business model either. Supplying leads, possibly office space, etc and much lower contracts. You can recruit to that model all day long at 50 to 60% commissions. there are tons of agents that would grab that all day long knowing full well that they would get 115 and 120 if they bought their own leads. If you can't find those guys, give me your number because I can send you all you can handle.

And Ramez running a phone room with a physical office. I have no issue with whatever he pays his agents. He's supplying leads and office space. I assume that he's in the 50% space. There are agents all day long that would take that deal over 115 and buying their leads.

My whole point in these threads has not been that everyone have the same business model. It's just to make your value proposition easy to compare. Every agency should be more up front about what they offer. No one should live in fear that their new agent is going to find out what commission levels gives out. You should be recruiting agents that are attracted to your business model and turning away the ones that aren't the right fit.

That's been my whole point. I turn away half the agents that approach us. And 99% of the agencies. Because they just don't fit out business model. But a whole lot of them are looking for exactly what you guys do. It's just a matter of recruiting the RIGHT agents for your agency. Not fitting square pegs in round holes and hoping they don't find out.
 
Willie, it's nothing personal. You are doing the same thing that numerous agencies do. I just think the insurance industry is set up in a bad way. I think agent's should not recruit at all until they have produced enough and long enough that they have earned recruiting level contracts. And they can put the guys they recruit at high contracts themselves.

I have no problem with your business model either. Supplying leads, possibly office space, etc and much lower contracts. You can recruit to that model all day long at 50 to 60% commissions. there are tons of agents that would grab that all day long knowing full well that they would get 115 and 120 if they bought their own leads. If you can't find those guys, give me your number because I can send you all you can handle.

And Ramez running a phone room with a physical office. I have no issue with whatever he pays his agents. He's supplying leads and office space. I assume that he's in the 50% space. There are agents all day long that would take that deal over 115 and buying their leads.

My whole point in these threads has not been that everyone have the same business model. It's just to make your value proposition easy to compare. Every agency should be more up front about what they offer. No one should live in fear that their new agent is going to find out what commission levels gives out. You should be recruiting agents that are attracted to your business model and turning away the ones that aren't the right fit.

That's been my whole point. I turn away half the agents that approach us. And 99% of the agencies. Because they just don't fit out business model. But a whole lot of them are looking for exactly what you guys do. It's just a matter of recruiting the RIGHT agents for your agency. Not fitting square pegs in round holes and hoping they don't find out.

Our convo here is not clicking. We can agree that each business model has pros and cons. You make money your way and I make money my way. I'm not disrespecting your business model, it's work g for you, but I can't see that working for an agency under your hierarchy (see Todd's post). That's all I'm saying :)
 
I agree Newby because I have talked to numerous IMO's and FMO's, etc and I am a new agent looking for the right contract. But one thing I haven't heard you say much about FexContracting is what kind of training can you offer a new agent just getting into the FE business? I have found a couple local MGA's and an FMO (I guess?) but one of them has been kind of sketchy about the commissions, only going up to 100% when I told him I had looked around but when I compare this to your commissions it confuses me as to what to do. One big advantage for me with this local MGA is that he can give me hand's on training, field training, an office space, he has given me agreement for immediate release but he doesn't do fixed rate DM leads. He has a couple companies that he said I could purchase leads from buying them at $440 per 1000 but not sure about the response rate for those kind of leads. Also, he insists that I can buy telemarketing leads and work seminars and he can help me do that successfully so I won't have to buy so many leads. He is a successful agent and has one other successful agent under him that he trained from the start that had no background in insurance sales. He does FE, MA & MS plus some other stuff.

I would be interested to know more about if it might be a good fit for me with your company or not. Training is important and I haven't heard you say much about how y'all train new agents. I know that you have Fixed Rate Leads also. What are your thoughts on what I told you about this local agent and what in your opinion might be best for me as a new agent. Right now, I'm really confused and could use some good advise. Thank you.
 
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