Binding authority comes with a direct contract with a carrier. With a cluster or aggregator, the goal is to allow you to work towards an appointment at a much lower entry point (that means faster) than if you were to do it yourself. For instance, let's say that Travelers Personal requires a $500k commitment in 3 years. A cluster/aggregator may be able to get you an appointment when you have $100k or less with the carrier because they already have millions with Travelers and you're "participating" in that relationship. If you're a hustler, you should be able to do that in a year or less, meaning you could renew all those clients into your code/contract at renewal (more commission). Then you potentially could have more authority, like binding, depending on how the cluster/aggregator works. The key here is, generally speaking, you have more access when you work with/through another company. Just understand what the benefits, responsibilities, and exit strategy (if needed) is.
I started a year ago with a cluster (localized to my area) and it's been a solid situation (focused on commercial though, not personal). It gives me much more access than I would otherwise have had. Got one direct appointment with them within a few months of starting up (aside from other direct appointments I obtained when starting the business) and planning about one per year (of major carriers like Travelers, Liberty, etc) going forward. These are players that would require $500k+ commitments but now are accessible for much less. You also often get day one contingency which can make a big difference.
My suggestion would be to find the one that best matches your vision and go all in. Remember to ask if/how you can use comparative raters, etc. If you really want it, you'll figure it out.
Last suggestion, read E-Myth Insurance Store (or original E-Myth). It's available free on Hoopla (app) or you can probably find a copy online to purchase. Lots of other great books out there too, but this will prepare you for the correct mindset (building a company/enterprise) vs. buying a job.
My best to you!
