Need and FEX agent

[myinsurebiz]

I am 44 got licensed in 2003 and went to work with a family friend who was there in the beginning when internet leads became a thing. Taught me telesales and have been doing it ever since. Never met a client a day in my life all telesales.

Interesting. I would love to pick your brain on this?

 

[myinsurebiz]

We develop and generate our own leads.

Care to share a few tips?

 

[philly012]

Let me make sure I understand fully...
You have not only one, but two brilliant agents who are on 40% commission, producing 170k each, right? Yet, neither is intelligent enough to figure out that they are paying you $102,000 each, for "free leads", only to earn $68,000? Yes, No, or Maybe?

 

[philly012]

What is the biggest problem with selling life insurance? The problem is leads. I give me agents the leads and they write the business. The 2 agents are not even contracted under me so we just split on app (FMO would not release them). The point is these agents make $70k and have no marketing or overhead. I can promise you that my agents are very intelligent and I would say most agents don't even make $70k a year. Of course renewals would add to that over time. The biggest risk for new agents is paying for leads. You guys on here get so wrapped up in the percentages and don't really comprehend the opportunity. The biggest tip is you need to be in control of your leads. You need to develop your own quality leads. Besides developing your own leads, Radio, TV and live transfers are next best. With those 3 make sure the lead is calling you directly and do not have a guide scrub the call and transfer to you. I have found out over many years that when people see an ad and call a number and it goes directly to you, you will have a much better closing ratio. The ones that get handed off to you from a guide are garage as they typically transfer people who are not that interested.

Todd King you could not be more wrong with your post. My agents can write or do whatever they want. Some buy their own leads and write their own business outside of me which is the complete opposite of being captive. As long as they produce with me I don't care what they do. Also when I make a blanket statement do take it so literally. You and I both know that most agents cannot afford $100+ leads. Not all are $100+ but most. Are you a WAG?

 

[rousemark]

Let me make sure I understand fully...
You have not only one, but two brilliant agents who are on 40% commission, producing 170k each, right? Yet, neither is intelligent enough to figure out that they are paying you $102,000 each, for "free leads", only to earn $68,000? Yes, No, or Maybe?

He has never said 40% of what. Is it 40% of total commission or 40% of agent level with him keeping 60% plus 100% of the overwrite? If the later, the agent share will be less that 40% of the premium.

 

[philly012]

If you read the original post, it says they go on the app for 40%. . To simplify their commission level could be 120% but again they are only getting paid 120% off of 40% of the total premium etc….

 

[Newby]

He has never said 40% of what. Is it 40% of total commission or 40% of agent level with him keeping 60% plus 100% of the overwrite? If the later, the agent share will be less that 40% of the premium.

40% of his 150% most likely. SO 60% of the 1st year premium?

:{ )

 

[myinsurebiz]

40% of his 150% most likely. SO 60% of the 1st year premium?

:{ )

He said they get 40% of whatever the writing agent's commission level is - ex:

Bob has a 120% contract with Carrier A and his deal is that Bob gets 40% of whatever the total annual premium is for that App since he has a 40% agent split.

$60 month premium would be $720 AP x 120% = $864. Bob would be paid 40% of that, or $345.60

Philly may have a 140% contract - which would be 60% of the $720 x 140% = $1,008.

Those leads are very expensive.