New Agents Can Make 100k to 250 in 1st Year Crap

[The Rabbi]

It's like a multi-level marketing pitch. They keep telling you about the success of one person at the top and pretend that everyone else should see similar results...

Insurance is MLM. I'm getting the idea here that few agents realize it. This goes on in every sales business. There has to be hype or the people won't produce. There has to be a brass ring. The sales force needs to know what the potential is. Go into any car dealership and you will find a board with each sales person's name down the left side and the days of the month across the top with numbers of cars sold as the month goes. This creates competition and ambition. You'll also find a wall with a salesman of the month plaques on it. It's called recognition. Most people are held back by their own self talk. I see it all over this forum. IT CAN'T BE DONE. Don't tell me what I can or can't accomplish. I don't even know how far I can go. Seven years ago I got an insurance license, never having sold intagibles. I was 58 and not sure I had it in me to start a new career, yet here I am - I've created a monster of a business with plenty of respect and recognition, all because I have guts and perserverence, a rare trait, I've discovered.
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I started with no money but good credit. I bought Internet leads and ran up $35,000 in debt. I was making money and spending it on restaurants, vacations, clothes etc. My philosophy was that it didn't matter as long as I could service the debt. I probably carried the debt for maybe 3 years before it was all paid off. It's called OPM, other people's money. That's the oldest way to make money. If a businessman isn't in debt, he won't make much money. Debt is a motivator. In the car business, we encouraged the salesmen to buy a house, a new car etc. Think about it. On this forum there are stories of agents who were dead broke and worked their butts off. That can burn a good man out - or not. It depends on the person. An experienced producer from any field can make money day one in any business. The secret is in being a professional salesman and there are plenty of books in the library from the 1960's that teach it. Nothing has changed about selling, but the person needs to change.

 

[RookieProducer]

I have been searching for the right relationship. I have a ton of contacts and large book of business that I can develop. I want to own my accounts and eventually either partner up as a co-owner, or be able to open my own brokerage in 5 years....

You get to make a lot of money from me, and I will keep the accounts I open with you, even if I go on my own, as long as we have an agreement that I will be paid on the business I bring in.

This is fair, since, I have no salary or benefits, and am bringing in my family and associates who own over 1000 buildings in NYC.

I can be reached at 646-261-6044 to discuss or at [email protected]

Please contact me if you are looking for someone that can drum up a ton of business.... I have dished off a lot of business in the last 2 months, as I search for the right relationship...

 

[jhuang]

I have been searching for the right relationship. I have a ton of contacts and large book of business that I can develop. I want to own my accounts and eventually either partner up as a co-owner, or be able to open my own brokerage in 5 years....

You get to make a lot of money from me, and I will keep the accounts I open with you, even if I go on my own, as long as we have an agreement that I will be paid on the business I bring in.

This is fair, since, I have no salary or benefits, and am bringing in my family and associates who own over 1000 buildings in NYC.

I can be reached at 646-261-6044 to discuss or at [email protected]

Please contact me if you are looking for someone that can drum up a ton of business.... I have dished off a lot of business in the last 2 months, as I search for the right relationship...

Why don't you place this in the Agent Offer section?

 

[Jim Jenkins]

[quote=jhuang;440601]Why don't you place this in the Agent Offer section?[/quote]


He's posted it everywhere but there.

 

[nfl72]

Just a quick comment. Too many people in this forum forget about one key thing. To make 100K you need to actually produce 130K or more

Costs in this business do add up. Things like

gas
E&O insurance
car insurance
car repairs
phone lines
office supplies
fax machines
toner
hotel bills
meals
chargebacks
leads
chargebacks
leads

I find that most guys in this business that say they make 100K are probably making 50. Too many people in sales have one good month and make 10K so they extend that out to 120K a year, when in fact they average 6K a month.

I used to hire lots of sales people in the mortgage and auto industry. When a guy would tell me what he made the year before I would ask to see his w2's and you could see them squirm!

Not trying to be a downer just stating facts. If you want to clear 100 you better sell 130

 

[senior-advisor-indiana]

You forgot to mention chargebacks and leads.
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If you don't include gas as marketing, which I probably should, I have only spent $5k in marketing so far this year.

 

[peewee]

Well let's see. If an agent could sell 185 policies over a 12 month period at an average of $45 per month premium, that would hit the 100K mark. Not that you would get paid all of that up front because they all wouldn't pay out the full 12 months.


52 weeks of working 5 days a week selling 1 policy a day would put you at 260 policies for the 12 month period.

So, is it feasible? Yes it is. Will most agents do it? NO! Why? Because most agent won't work that hard. Some do, and they will make it, but most don't.

So the question again is....Can an agent make 100K their first year? YES!!

POSSIBLE - YES, PROBABLE - NO, over and out. The hype is so annoying, yuck, puke, done.

 

[STIBROKER]

got mine down to 2............

Just a quick comment. Too many people in this forum forget about one key thing. To make 100K you need to actually produce 130K or more

Costs in this business do add up. Things like


E&O insurance
phone line

 

[WinoBlues]

got mine down to 2............

My 2 big ones are phones and mail. Followed by office supplys. Occasional appointment trip cost.

Todd is correct. Can, yes. Will, no.

 

[Chazm]

Just a quick comment. Too many people in this forum forget about one key thing. To make 100K you need to actually produce 130K or more

Costs in this business do add up. Things like

gas
E&O insurance
car insurance
car repairs
phone lines
office supplies
fax machines
toner
hotel bills
meals
chargebacks
leads
chargebacks
leads

I find that most guys in this business that say they make 100K are probably making 50. Too many people in sales have one good month and make 10K so they extend that out to 120K a year, when in fact they average 6K a month.

I used to hire lots of sales people in the mortgage and auto industry. When a guy would tell me what he made the year before I would ask to see his w2's and you could see them squirm!

Not trying to be a downer just stating facts. If you want to clear 100 you better sell 130

Car insurance and meals would be paid by you usually in any business. Hotel's? I don't know many who need to travel to make a sale. Charge backs shouldn't be too common either, I think I've had one this year. But I guess it depends on what market you are in.

I agree on E&O, gas and leads though. That's about all I pay out extra per year. Maybe $5-10k.

I do think a lot of people exaggerate their income though