New Farmers Hire

[MikeyR]

Good Afternoon/Evening Gentlemen,

I was able to get the opportunity to become a csr under a current farmer agent and will become an agent underneath him as long as I get my license within 90 days.

Now he is already pitching me on becoming a protege after 3 years of learning him but in 3 years I will be done with college and intend become a broker rather than captive.


I am trying to make the most of my years with him, so to make a long story short I was wondering if anybody could offer advice about farmers or general or any tips to learn the most while I am here.

 

[Markthebroker]

Do you have a successful track record of sales?

 

[MikeyR]

Do you have a successful track record of sales?

This will be my first sales job, previously 5 years of customer service.

 

[Markthebroker]

If you have no sales experience, you may or may not be a successful agent. Based on the information right now, you probably won't. You may be, but at this point there is no reason to believe you will be. Frankly, very few people that are good csr's and account managers are also good salespeople. I am an agent, and I have several csr's under me that assist me, that are very talented, but couldn't do my job to save their life. Keep in mind the failure rate in this business is extremely high, and at this point there's nothing pointing towards you being one of the successful ones, though you may one day be one of those.

If this Farmers agent really believed that you were destined to be an agent, he would be putting you in a sales position, not CSR. The Farmers agent you will be under may be happy to lead you on with a story of becoming an agent, so that you will work hard, perhaps even for big promises later in lieu of fair compensation now. Furthermore, he will benefit from the bonus he gets from you trying to start your own Farmer's Agency, and Farmers corporate will be happy to see you try to start your own agency on your own nickel, and then keep the friends and family that you sell at a small risk to them, if your agency fails.

Get your license and learn to sell before you consider becoming an agent or agency owner.

 

[MikeyR]

If you have no sales experience, you may or may not be a successful agent. Based on the information right now, you probably won't. You may be, but at this point there is no reason to believe you will be. Frankly, very few people that are good csr's and account managers are also good salespeople. I am an agent, and I have several csr's under me that assist me, that are very talented, but couldn't do my job to save their life. Keep in mind the failure rate in this business is extremely high, and at this point there's nothing pointing towards you being one of the successful ones, though you may one day be one of those.

If this Farmers agent really believed that you were destined to be an agent, he would be putting you in a sales position, not CSR. The Farmers agent you will be under may be happy to lead you on with a story of becoming an agent, so that you will work hard, perhaps even for big promises later in lieu of fair compensation now. Furthermore, he will benefit from the bonus he gets from you trying to start your own Farmer's Agency, and Farmers corporate will be happy to see you try to start your own agency on your own nickel, and then keep the friends and family that you sell at a small risk to them, if your agency fails.

Get your license and learn to sell before you consider becoming an agent or agency owner.

I appreciate the advice, and I am only a CSR til I get my license than I will be sales. Also that's what I figured bout the "apprentice" program, tht he would he receive benefits.

Do you have any books or programs that you would recommend I read or do bout insurance sales?

 

[fed up]

Learn the Farmers way, watch every video they tell you to watch. Listen. Ask questions. Don't take shortcuts

 

[Warrior]

I used to be an agent for farmers. I don't recommend you going Independent until you have at least 3 years of sales experience behind you. Insurance is a different type of sales game.
I liked farmers for 1 thing. The University they put you through. But I caution you not to go hog wild and drink their koolade, as that can leave you in debt. Learning the basics of insurance sales, how to market, how to create a business plan and marketing plan, setting and achieving goals are huge take aways. Start out as a captive. Learn all you can, become successful, and go Independent. That way, you will have income in the bank to afford an office, and all that goes with being solo.
Don't try to rush into this. Be a person who is an absorber of information, not a " I know it all and don't need to learn any more" kind of person.
All of us learn new things everyday.
Being under his wing, you are making money for him, a little bit for you. The biggest thing you can do for yourself is use him as a stepping stone. See if he is part of a BNI, go to their weekly meetings. See if he would pay for you to get memberships with Rotary and Kiwanis Clubs. Get involved in your community by volunteering. This will get your personal name out there so when you go Independent, you have all this set up and have a positive reputation with the community. This will bode well for your future.

 

[MikeyR]

Do you have a successful track record of sales?

Thinking bout it now, I am a junior in college so I actually haven't had done any sales job yet.

I used to be an agent for farmers. I don't recommend you going Independent until you have at least 3 years of sales experience behind you. Insurance is a different type of sales game.
I liked farmers for 1 thing. The University they put you through. But I caution you not to go hog wild and drink their koolade, as that can leave you in debt. Learning the basics of insurance sales, how to market, how to create a business plan and marketing plan, setting and achieving goals are huge take aways. Start out as a captive. Learn all you can, become successful, and go Independent. That way, you will have income in the bank to afford an office, and all that goes with being solo.
Don't try to rush into this. Be a person who is an absorber of information, not a " I know it all and don't need to learn any more" kind of person.
All of us learn new things everyday.
Being under his wing, you are making money for him, a little bit for you. The biggest thing you can do for yourself is use him as a stepping stone. See if he is part of a BNI, go to their weekly meetings. See if he would pay for you to get memberships with Rotary and Kiwanis Clubs. Get involved in your community by volunteering. This will get your personal name out there so when you go Independent, you have all this set up and have a positive reputation with the community. This will bode well for your future.

Yeah I was actually really interested in taking advantage of the university, tomorrow is my first day though so looking forward to hear about it. Now this is one I really need to drill in my head "Don't try to rush into this.", I feel like every year I am not independent or out on my own is a wasted opportunity combined with school. This is why I am trying to change my point of view into looking at this opportunity of working underneath him as tuition and going to school, that its a requirement if I truly want this be my career.


Now as someone who was captive and farmers, how did you learn what niches you were competitive in? Is this just something you find out as you quote and get experience, or does your company clearly outline hey this who we are targeting and who we do not want.


I was watching a video by shawnmwalker that talked bout the spectrum of companies which was really quite interesting I can kind of had a grasp previously but it helped solidify it.

 

[fed up]

Not everyone gets to go to the University. If you are working as a producer you will most likely not go. Only agents who have met their goals and are ready to jump to their own agency get to go

 

[marindependent]

Soak Up as much information as you can:
1. General Insurance Industry Information
2. Agency Best Practices