New guy with a few questions

[gogoguy]

Hello

I've been in sales most my adult life but never did anything with insurance. I signed up here to learn more about it. What does the typical day consist of?

Leads provided or bought from marketing company or something else?

Do you normally start off on some sort of salary or is it just commission based only?

I have always been the top producer in every company I've worked for and so quickly. What are most first year guys making?

What type of insurance do I want to get into and why?

Do most guys come in and take over someone that might be getting accounts or start with nothing?

 

[The New Guy]

With the weekend fast approaching, I would block out about 15 to 20 hours of your time, grab a few cold beverages of choice, some snacks, and read away.

Use the search function for topics of interest to you.

Don't waste your time reading the fluff, spend your time reading the stuff.

There's a ton of great information on here.

 

[somarco]

Typical day - For a rookie, it is getting your nose bloodied. Often.

Leads - Leads are not free. There is always a price to pay. Either you front the cost or allow someone to hand pick the leads you will get. Free leads are usually the most expensive ones.

Salary - Again, there is no free lunch. Whether you have a salary, draw or advance commissions, it all comes with a price. Your ability to walk away will be impeded by the way you are compensated.

First year earnings - Most make less than $5,000. That is why they flame out. You have the ability to earn 6 figures your first year (but very few will achieve that level) or starve. Much is up to you, your choice of products, the kind of training. You can earn a good living by living a lie or by being a pro. You get to choose.

Type of insurance - Follow your heart. What product do you feel a passion for? If you do not believe in what you are doing and are just in it for a buck, you will not last long.

Accounts - Few have the opportunity to take over an account. Most start from scratch.

 

[gogoguy]

That is depressing. I'm in it for the money to say the least. Anyone that is working for something other than money can come work for me. Surely this is not the norm.

 

[lookin4abetterwayinpa]

somarco,
Less than 5k for the first year, really?(sorry I am still not 100% on the qoute thing) Anyway, I am going to concentrate on health for the first 1-2 years, and have been told by a number of people that after the first few months it should not be a problem to write 2-3 apps a week. That works out to over 70k a year.

Have I been grossly misinformed? I realize that it is different for everyone, but under $5k a year, that is disheartening.

Training is the biggest issue from what I have heard. I believe I am on the right path with that aspect, any further input would be greatly appreciated. I realize when you have been at it for a long time it's easy to forget the beginning. But from a newby perspective, this can be very confusing

 

[gogoguy]

Looking,

Searching around the site alot here and it looks like it is all over the map. I think a ton of scammers are playing this game. I thought years ago that insurance was going to be like buying anything else online and that is how it would be done. I guess not. I'm just trying to get to the real deal in this industry. I make 35k rouhgly and don't even work it too hard now. So much of it I don't understand like why pay for leads? How are you buying them from? Why wouldn't they want to talk to everyone.
I thought I would go into car and home insurance. That part seems to be abit more legit and not full of scammers from the outside looking in.
I did talk to 3 different guys in the industry but all they wanted to do is hire me and get me going and "the rest will come". I want to know what I'm getting into first. Haven't found anyone that seems to want to say much about what will happen. They all want to talk about a guy they know or with your sales ability you could... Blue sky to me. I "could" land on the moon also. Could to me = scam.
Are you just an independant contractor that simply just brings deals back to them to handle the back end? If so that is different but it wouldn't be long and I would just do it myself. If you have to pay for leads, commission only, start from zero and so on then it seems you are already taking on alot of the downsides to being self employeed.
Is there a better place to look than here for guys not knowing a thing? At one place I talked to a guy he said I would be replacing a guy that worked up to 68k in 2.5 years. He left for more money at another spot. He sold car and home and that is it. Does that sound right?

 

[B Ray]

somarco,
Less than 5k for the first year, really?(sorry I am still not 100% on the qoute thing) Anyway, I am going to concentrate on health for the first 1-2 years, and have been told by a number of people that after the first few months it should not be a problem to write 2-3 apps a week. That works out to over 70k a year.

Have I been grossly misinformed? I realize that it is different for everyone, but under $5k a year, that is disheartening.

Training is the biggest issue from what I have heard. I believe I am on the right path with that aspect, any further input would be greatly appreciated. I realize when you have been at it for a long time it's easy to forget the beginning. But from a newby perspective, this can be very confusing

Training is what is killing me, but I have made close to 3k in my first 8 weeks, but I have worked my tail off to get that..Looking for another company that will TRAIN me and get me going the right direction.

 

[somarco]

somarco,
Less than 5k for the first year, really?(

Yes, really.

Because (if you had read my post) . . . MOST give up. The reasons vary but it usually involves under-capitalization and laziness.

write 2-3 apps a week. That works out to over 70k a year.

Almost anything is possible, and some will achieve that level.

I have no idea what line of coverage you are pursuing, how much money you have to fund yourself, how hard you will work, or what your compensation arrangement is.

thought years ago that insurance was going to be like buying anything else online and that is how it would be done. I guess not. I'm just trying to get to the real deal in this industry. I make 35k rouhgly and don't even work it too hard now. So much of it I don't understand like why pay for leads? How are you buying them from? Why wouldn't they want to talk to everyone.

If you are working online and over the phone, you either buy leads, learn SEO (or pay someone), or cold call.

All have a cost.

Who do I buy leads from?

Different vendors. Plenty of threads on internet leads. Dig in.

Many (most?) internet shoppers are DIY folks. They go on the internet to AVOID talking to an agent.

Those folks are the ones who will invariably buy the wrong product, pay too much, and then bitch because they got screwed.

As for your other comment, if you are making $35k then you answered your own question.

It is because you are not working very hard.

Is there a better place to look than here for guys not knowing a thing?

Well . . .

Some here truly have no clue what they are talking about, but if you want a place where no one knows anything of substance about the insurance business, go talk to a used car salesman.

3k in my first 8 weeks, but I have worked my tail off

It may be you.

It may be you are working hard at doing the wrong thing.

You could just be in a learning curve.

There are any number of explanations.

What I do know is this. If you quit, then you will pretty much justify my comment that the average person makes $5k their first year.

 

[lookin4abetterwayinpa]

Thank you for the clarification. [SIZE=+0]I believe from another post of yours that I read that you have been in the business for over 25 years, so I value your opinion and advice.[/SIZE]

[SIZE=+0]Again, maybe it's just me, but this can be very confusing at the beginning. Either way I know my work ethic, and I will not make the jump into this business until I am completely ready.[/SIZE]

[SIZE=+0]In the company I am with now there are some people making $75k and some making $25k, so I guess it's the old 80/20 rule. Besides I have a family that depends on me so I have no choice but to make it work when I do make the move.[/SIZE]

[SIZE=+0]Once again thanks for the clarification>[/SIZE]

 

[lookin4abetterwayinpa]

Not sure how that font happened, sorry if it hurts anyones corneia's and/or iris's. I am sure there is someone on this site that offers vision.