So, I'm particularly, let's say "fresh-faced," in the industry.
I just did entry-level production of P&C and life at a mid-sized State Farm agency here in Knoxville for 7 months. It was almost entirely phone sales - exclusively multiliners and ice-cold leads from 1-4 years ago - and my production was mediocre. My agent wasn't big on me getting out of the office. I turned a decent number of these cold prospects, set quite a few appointments and have written a little life here lately. But it's time to branch out with an independent agency. Long story short: I quickly picked up on the pyramiddy nature of the captive game, and I'm ready to move on. I'm interviewing and weighing offers at some of the local independent places, but I don't have much frame of reference for expectations.
I'm strongly considering joining a relatively small group, which currently consists of just the owner and his wife. I'd be the only in-the-field producer in the office. I'm told they do well with referrals, but they'd love for an employee to get out and talk to businesses, realtors, loan officers, etc. He's offering a very strong commission split - as high as 60 to 70% of new business and life.
As it stands, this place doesn't have much commercial presence, but they have a desire to grow in that area. The owner says he just needs a producer to pound the pavement and drum up some B2B. He's got some good carriers for it - Nationwide, Grange, Safeco, State Auto, Travelers, Donegal, Hartford, and a few others to write commercial through. I'm ready to do the research and find good niches for each company. I'm just inexperienced at this point.
In your guys' experience, is it realistic to expect decent commercial and/or personal volume at a fairly small place? Or am I better served holding out for one of the bigger, better-known agencies in the area? The positives at this place include a starting base to get me on my feet, tons of professional freedom, and a close-knit atmosphere learning under two principals with 30+ years insurance experience. The downside is obvious: perhaps they're small for good reason. That high commission cut is enticing, but who knows how much volume I'll see?
I'm not greedy, and I'm excited about building a career the right way. But the last thing I want to do is tether to a back-of-the-pack agency and suffer for years under a non-compete. Not to mention, I've got a family and don't have two or three years to burn at $20,000 a year.
Any thoughts at all? Input would be greatly appreciated - clearly, this is a community that knows its stuff.
I just did entry-level production of P&C and life at a mid-sized State Farm agency here in Knoxville for 7 months. It was almost entirely phone sales - exclusively multiliners and ice-cold leads from 1-4 years ago - and my production was mediocre. My agent wasn't big on me getting out of the office. I turned a decent number of these cold prospects, set quite a few appointments and have written a little life here lately. But it's time to branch out with an independent agency. Long story short: I quickly picked up on the pyramiddy nature of the captive game, and I'm ready to move on. I'm interviewing and weighing offers at some of the local independent places, but I don't have much frame of reference for expectations.
I'm strongly considering joining a relatively small group, which currently consists of just the owner and his wife. I'd be the only in-the-field producer in the office. I'm told they do well with referrals, but they'd love for an employee to get out and talk to businesses, realtors, loan officers, etc. He's offering a very strong commission split - as high as 60 to 70% of new business and life.
As it stands, this place doesn't have much commercial presence, but they have a desire to grow in that area. The owner says he just needs a producer to pound the pavement and drum up some B2B. He's got some good carriers for it - Nationwide, Grange, Safeco, State Auto, Travelers, Donegal, Hartford, and a few others to write commercial through. I'm ready to do the research and find good niches for each company. I'm just inexperienced at this point.
In your guys' experience, is it realistic to expect decent commercial and/or personal volume at a fairly small place? Or am I better served holding out for one of the bigger, better-known agencies in the area? The positives at this place include a starting base to get me on my feet, tons of professional freedom, and a close-knit atmosphere learning under two principals with 30+ years insurance experience. The downside is obvious: perhaps they're small for good reason. That high commission cut is enticing, but who knows how much volume I'll see?
I'm not greedy, and I'm excited about building a career the right way. But the last thing I want to do is tether to a back-of-the-pack agency and suffer for years under a non-compete. Not to mention, I've got a family and don't have two or three years to burn at $20,000 a year.
Any thoughts at all? Input would be greatly appreciated - clearly, this is a community that knows its stuff.