Just Passed my Life Test and Have a Few Questions on Commissions

[WinoBlues]

If you are going to take a cut in comps, dont go to LH. You can get higher comps, better renewals, better companies and easier underwriting at EFES. Just dont go under Joe C lol.

That is what I was thinking also. Sounds like a similar comp structure, a lot more companies. And should have a local trainer.

Or go with LH learn how to sell and bail with no need for a release. And do not concentrate on direct express business.

 

[jdeasy]

Many successful agents on this forum started with EFES, got training and experience there, then eventually went independent. From what I''ve read here, it is a much better deal than LH.

They didn't have to leave efes to go independent. They were independent while with efes.

 

[GTC1]

They didn't have to leave efes to go independent. They were independent while with efes.

I stand corrected. I should have said "go independent and get street level contracts."

 

[Birdman300]

Yeah I know. I wasn't trying to start a bashing thread I just really want to know if comm drop that much if you go somewhere else.

I went through the same questions about 9 months ago that you're going through now. There are tons and tons of old posts on here about commissions. Keep reading as much as you can. Me...I did extensive research and decided to go with FEX. I called and spoke to tons of IMO's...all I got was some marketer dude that only offered 85%. They were all pretty much the same...I felt like a sheep being herded. Talking to FEX was a much better experience...plus they offered commissions much higher than 85%. Talk to Newby, or HoosierDaddy, or JDEasy on this forum. My learning curve was pretty steep at first, but looking back at it...I'm glad I did it this way.

 

[Dow101]

I have decided to just become an independent agent. I was a stockbroker for 9 years so I feel fine with the sales part. It's just the products I need to learn. I found an FMO I would like to use. Just waiting for them to call or email me. The only burning question I really have right now is do the comm's drop by half depending on mode of payment for most companies?

 

[GTC1]

So I was about to become a captive agent yesterday with a company most of you don't like. I have never sold FE so I figured I need training. Why not go to a agency that does that? What's the point of me getting higher payouts if I don't know how to sell and service. They emailed me the contract and the kool-aid I had been sipping that tasted so good a day ago became a toxin.I knew I would be getting 80% and was ok with that. What I did not know was how much less I would be getting just for mode of payment 40% if they use a debit card. Is that normal?

To actually answer your original question: No, it is not normal. In fact, no other carrier cuts commission as bad as LH does just because client wants to use a different payment mode.

 

[Dow101]

Yeah I have left a phone message and my contact info on the Fex website just waiting on them to call or email me. I just did it this morning it's not been too long.I don't want to give the impression that I'm super excited and ready to go. It's not like I keep checking my phone for missed calls or anything

They just called I'm super pumped about this!! Looks like I'll be asking a lot more questions in the future.

 

[GTC1]

Be sure to verify with your imo/fmo up front what their release policy is. Also make sure your commissions are paid to you direct from the carriers, not from the imo/fmo.

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I posted the above before I saw you''re going with fex. They can definitely give you the right answer to both questions in my last post.