- Thread starter
- #31
- 134
Nice!
Mortgage vs. Insurance?
- Thread starter 007
- Start date
Nice!
- 1,704
Nice sharp angling there, insurance 007! LOL
- Thread starter
- #33
- 134
LoL,
I guess from what I read from these forums Doctor it seems like cold calling is the way to go. I noticed some longtime veterans here are still grinding and cold calling prospects and one figure they would be retired by now from cold calling and sit back and collect override checks monthly from all the clients!! I know there is an artrition rate but I read in posts that one insurance guy retired and he now sits back and collects residual income of 350k/year..
- Staff
- #34
- 2,908
Jeez, that's class with a capital K. Why didn't you just say "Hi, do you like to be on top or bottom."
Winter
- 1,704
Hmmm....now i was taught the A B C method. Always Be Closing!
He should have rebutted with another remark like, oh yeah, we all have business to take care off....let's have coffee later., ok?
Or that sharp angle method he used on Salpro.....come back with, so what are you doing after you take care of business?
remember, ABC
He should have rebutted with another remark like, oh yeah, we all have business to take care off....let's have coffee later., ok?
Or that sharp angle method he used on Salpro.....come back with, so what are you doing after you take care of business?
remember, ABC
- 14,808
To the original post:
Both mortgage and insurance are extremely similar. Both involve a lot of prospecting and speaking to a lot of leads to close deals. Both also involve underwriting and the pay seems to be similar - a lot of money to be had if you're very good - off the bankruptcy court if you're not:-)
I have two very good friends who are mortgage brokers and have been trying to get me in for years. I've seen what they do an consider it to be a lot tougher than that I do. The sale and closing tactics needed are too heavy-handed and the people begging for a mortgage can't qualify. The ones with good credit have no sense of urgency and look into every detail of the loan agreement. Both of them are basically on the phone a solid 8 hours a day - which I could never cope with.
Also, the fact that my clients generate a stream of income for a long as they stay with me as their agent makes insurance a hands down winner.
Both mortgage and insurance are extremely similar. Both involve a lot of prospecting and speaking to a lot of leads to close deals. Both also involve underwriting and the pay seems to be similar - a lot of money to be had if you're very good - off the bankruptcy court if you're not:-)
I have two very good friends who are mortgage brokers and have been trying to get me in for years. I've seen what they do an consider it to be a lot tougher than that I do. The sale and closing tactics needed are too heavy-handed and the people begging for a mortgage can't qualify. The ones with good credit have no sense of urgency and look into every detail of the loan agreement. Both of them are basically on the phone a solid 8 hours a day - which I could never cope with.
Also, the fact that my clients generate a stream of income for a long as they stay with me as their agent makes insurance a hands down winner.
- Thread starter
- #38
- 134
LOLOL,
Healthagent, thanks for info. and I'm going to test waters by telemarketing for a local agent here to see if this is what I want to do for my career. 1/15 or 20 closing ratio requires a lot of prospecting daily with those numbers unless you have a group of telemarketers woking for you. John, are you finger/manually dialing these numbers yourself because it is a pain manually dialing numbers?
Guys, I will be telemarketing soon for this local agent unless ya'll want to hire me as an independent contractor. Anybody? I have experience in prospecting in the mortgage business collecting applications and outside door to door sales. Thanks
Healthagent, thanks for info. and I'm going to test waters by telemarketing for a local agent here to see if this is what I want to do for my career. 1/15 or 20 closing ratio requires a lot of prospecting daily with those numbers unless you have a group of telemarketers woking for you. John, are you finger/manually dialing these numbers yourself because it is a pain manually dialing numbers?
Guys, I will be telemarketing soon for this local agent unless ya'll want to hire me as an independent contractor. Anybody? I have experience in prospecting in the mortgage business collecting applications and outside door to door sales. Thanks
- 14,808
You might start out calling yourself but in the end it's too time-consuming. Close even 1 out of 10 with 2 leads per hour generated is 5 hours on the phone for one deal. You'll have to farm it out.
B to B is much better to get off the ground. 2 hours of B to B is one deal and I'll put in 5 deals a week off 2 hours of B to B all day long. It's less mental effort to walk into a business with a flyer and say:
"I'm just leaving a flyer with you. If anyone here is interested I have a website set up for quotes on the newest health insurance plans." I'm in shorts, polo shirt and a call cap when I'm out there. Low key works.
That's it. The interested people engage you, the disinterested ones just say "thanks" but the flyer is still there and gets passed around. You'll generate 3 leads while at the businesses per hour and close 1 out of 5 - extremely high closing percentage. Then the flyer pulls another 2%.
B to B is much better to get off the ground. 2 hours of B to B is one deal and I'll put in 5 deals a week off 2 hours of B to B all day long. It's less mental effort to walk into a business with a flyer and say:
"I'm just leaving a flyer with you. If anyone here is interested I have a website set up for quotes on the newest health insurance plans." I'm in shorts, polo shirt and a call cap when I'm out there. Low key works.
That's it. The interested people engage you, the disinterested ones just say "thanks" but the flyer is still there and gets passed around. You'll generate 3 leads while at the businesses per hour and close 1 out of 5 - extremely high closing percentage. Then the flyer pulls another 2%.
I do appreciate the offer, but there are enough scripts on this forum that I have posted. I'm more of a "follow these guidelines" when calling vs. saying the standard remarks to every person. You're more than free to critique the scripts I have posted on this forum.
It sounds like you are on the right track by testing the waters.
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