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- #11
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Re: Mortgage Protection First Year Income Avg?
haha!!
Well, the way it works is they get the MBD. The goal for MBD is $600 mbd per week. The reality I've seen from the agents in that office is more like $400 or less. Last weeks Agent AP:
L: $2691
L2: $0
C: $2789
B: $4205
E: $4374
Now, that being said, there has been more. C, did about $7000 the week before. Activity = Success and all that.
They get paid 600% of MBD, so take a B's production for last week, $4205 AP, /12 = $350.42 per month, x 6 (600%) = $2102.52. Now, the 600% is not paid all up front. You get 150% upon app submission, = $525.63, you get another 300% upon policy issue = $1051.26, then another 50% each for months 10,11, and 12, = $175.21 each month.
Just figuring the submission and issue app for a month, I come to $1576.89 each week, x 4.34 weeks = $6843.70 gross per month. If we take 30% off for chargebacks, we are looking at $4790 per month, if I'm lucky, and thats before taxes that I'd have to withhold myself, fuel, phone bills, etc.
Again, thats producing pretty good, even during the holiday season (which, if I remember correctly 16 years ago, it was VERY quiet).
Realistic? What am I forgetting? Not sure if anyone has done over that MBD consistently throughout the year, although there are some folks in Texas who apparently have.
haha!!
Well, the way it works is they get the MBD. The goal for MBD is $600 mbd per week. The reality I've seen from the agents in that office is more like $400 or less. Last weeks Agent AP:
L: $2691
L2: $0
C: $2789
B: $4205
E: $4374
Now, that being said, there has been more. C, did about $7000 the week before. Activity = Success and all that.
They get paid 600% of MBD, so take a B's production for last week, $4205 AP, /12 = $350.42 per month, x 6 (600%) = $2102.52. Now, the 600% is not paid all up front. You get 150% upon app submission, = $525.63, you get another 300% upon policy issue = $1051.26, then another 50% each for months 10,11, and 12, = $175.21 each month.
Just figuring the submission and issue app for a month, I come to $1576.89 each week, x 4.34 weeks = $6843.70 gross per month. If we take 30% off for chargebacks, we are looking at $4790 per month, if I'm lucky, and thats before taxes that I'd have to withhold myself, fuel, phone bills, etc.
Again, thats producing pretty good, even during the holiday season (which, if I remember correctly 16 years ago, it was VERY quiet).
Realistic? What am I forgetting? Not sure if anyone has done over that MBD consistently throughout the year, although there are some folks in Texas who apparently have.
