New Agency - Forcing Joint Work

[SWC47]

I am a rep who has recently joined a new, more well-known agency. I came in with the project 200, did market surveys, etc... Anyways, this is the first time that I have been approaching people in my natural market, and I do have a very affluent and desirable natural market. My issue is, my manager is pressing me to do all of my appointments jointly and it is making me feel very uncomfortable. I worked mortgage and medsupp leads for 2 1/2 years, and have cross sold a lot of LTCi. Anyways, I have a lot of my parents friends, friends parents, etc... Who are more than happy to meet with me and help me if they can - and I would say 90% are open to having a LTC discussion. Even though a lot of these people are doctors, lawyers, or maybe even business owners - I have such a close personal relationship with them that I don't think they would appreciate me bringing in some senior rep to do a cover to cover fact finder and then present them some $40,000 premium. Also, the recruiter harasses me every day for Rep Referrals. She added me on facebook and wants to use my name to call people I haven't spoken to in years! Has anyone else had a similar experience? I love the company and the products - but jeez. Like for example, when I told my manager I was working with an exec at a certain company, he conference called me with another rep who also works with those reps so next time I went to see this individual we could see them jointly. My Dad happens to work for the same company and of course the guy now wants to sit down with my Dad. I find it all very frustrating, and it feels like they are playing the odds of me failing and want to make sure they get my market
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excuse me, conference called me with another rep who also works with a lot of people within that company

 

[insuranceconceptscindy]

Start writing business and they will soon shut up. If you are not an employee of the agency, they can't MAKE you do anything. Go sell! It sounds like the other agents don't have the connections you have and want a piece of the pie.
Having said all that- Some companies use the joint-work approach as on the job training for the newby's. If you don't think you need the expertise of the seasoned agent, politely decline. But they will expect production if you do that.

 

[Justin Bilyj]

I know a local agency who suggests doing joint work all the time. Their reasoning was since you are referring them, you aren't mucking up the relationship with sales recommendations and yet you are still helping them in their quest for financial wholeness by recommending a professional.
Same thing with the project 200, I wouldn't hit them up for their business, but send them cards, newsletters to let them know what you do and the type of clients you like to help while displaying your expertise and furthering the chances of earning their actual business.
Also, go write business now...

 

[DHK]

First, it doesn't sound like you WANT joint-work. That's an attitude thing... and their pressuring you is keeping you stuck with that same attitude.

Second, you're ASSUMING that your relationships wouldn't want you to bring in a senior agent. It's all in how you frame it, for yourself and those you know.

"I appreciate your time today. I want to be sure that you're getting the best advice - not just from me - but the best that the entire FIRM has to offer. Since I'm new, I wanted to be sure that we do a great job on your plan... so that's why I brought ____ with me - to help be sure that we do the best job for you."

That's just one way to go. Remember that by doing joint work, you're supposed to help find bigger needs that help offset the commission split. That's how you justify paying them the split. If they can't do that, then you live & learn and not bring that agent again.

Most agencies work through this saying:

Hire 'em in masses
Teach 'em in classes
Sell all their family and friends
and Fire their asses.

Once you go through your 'warm market'... then what?


My best advice for you: Find a prospect profile that you can be 100% confident and competent in TODAY without joint work. Focus your efforts there.

Profiles that you are NOT yet 100% confident and competent... use joint work. You introduce and sit in all the meetings, learn and absorb. But let them do the work while you focus on your targeted prospect profile.

I think that would be a much smarter approach to this business - you'll learn more and you'll be functional much quicker.

If you want ideas on a prospect profile, I'd visit:
http://precisionmarketingapproach.com/
and
Science of Referrals
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BTW, thank you for your post because it reminded me of the hell it can be to be in various career agencies.

 

[Larry Tew]

Follow DHK's advice. You're assuming that your natural market wants to see only you, but don't overlook the fact that every one of them knows you're new. They may love you, but they aren't going to lay it all out for you until you gain more experience.

 

[scagnt83]

Follow DHK's advice. You're assuming that your natural market wants to see only you, but don't overlook the fact that every one of them knows you're new. They may love you, but they aren't going to lay it all out for you until you gain more experience.

As someone who started as a very young captive agent with a warm market exactly like yours, Larry and DHK are spot on with their advice.

I have had joint work go both ways for me. But dont discount the value that a more experienced agent can bring to the table. You dont know what you dont know.

The biggest key is to find an agent that you feel comfortable bringing in on cases. If you feel comfortable, the client will.

But if you really dont need them then get out there and sell. They will shut up soon after.

 

[b61mack]

What company are you working with? Are they paying you a base salary? If it is a legit company, I see no problem doing a couple of joint appointments, That is how you learn.But without telling us who the company is, we are guessing.

 

[DecisionMan]

The first part of your post says you've been selling for 2 1/2 years both life and health products which implies you've got experience getting in front of people, fact-finding, some case development.

My guess is you're moving to Mass or NWM or NYL for training for higher level sales especially since you have an affluent natural market?

While I fully agree with DHK's excellent advice, and in the past having worked at two of those "well-known" agencies over the past 20 years, I can understand your hesitation with joint work.

First, lots of the joint work push comes from managers and other 'experienced' agents who look at you as a lead generator for them but use the excuse that "you'll learn more splitting the cases." But if you are good at getting the appointment and fact-finding, you can bring cases back to the office for case development.

Second, frequently managers and other 'experienced' agents act like John Wayne and pretend they're a great closer and run all over your lead, your contact, your affluent relationship and push for an application at the first appointment. At least in my experience in the affluent market I rarely get an app on the first visit. The affluent are not browbeat into an app. So basically the senior agent blows up your relationship with no damage to themselves, but you've lost credibility and a good lead and a future referral source.

Third, is it really true that managers are good salespeople to bring along for joint work? Why are they now a manager instead of a producing agent? I remember my "manager" at a Mass office who was a great recruiter but absolutely awful at the table. Another time a "senior agent" talked so long that my prospect texted me to try and get the guy to shut up. No sale there either, credibility blown.

In my experience, joint work is invaluable for new agents to learn how to prospect, fact-find, present, to develop confidence early-on that they can see how this business works and be successful at it.

But for someone with experience and an important and valuable natural affluent market - everyone is going to want a piece of it.

Can you work your natural market hard on your own, getting as many appointments and fact-finds for case development as possible, so you don't need help at the table - only in case development? If so, do it on your own.

Lastly, learn as much as you can at the big agency, keep a good record of all your contacts, clients, leads and maintain all your files and training/educational material at a home office. Once you've learned what you need, leave with a broker contract for their products and go out on your own. Those big shops are havens for cubicle-dwelling zombie agents who want to come to an office and look like they're working who are afraid to hit the streets. Most of them are poor.

Are you better than that?

 

[SWC47]

Wow, good feedback.

I did join one of the 3 firms you mentioned Decision Man. It is true that I want to increase my premium, for the past two years, on average, I am right at about $6,000 in premium/mo, so I made the switch to work with what I perceive to be the class of the industry.

I am almost through my coursework for my CLTC, and I can design and sell LTCi effectively. A lot of my initial contacts are my parents friends that have seen me grow up, and have always thought I was a good kid, want to help me out, and need LTCi. I don't see why I should bring someone else to the table for something like that. Are there other needs? Perhaps, but I am getting great T'd up referrals, and the nominator is so highly respected that I know they are going to give me a serious listen on LTCi. Maybe your right, I do need to change me attitude. But like, conference calling in a JW partner and pushing me to schedule and appt. with my Dad is not cool, ya know?