Newb in need of ADVICE!!

[HomeService]

Yes, the big captives have programs you can get into while you are studying for your exam. Interview with them and talk to them about it. They are frequently hiring on careerbuilder and sites like that. It's a way to work your way into the field, get trained, etc. Who knows, you may discover you don't like it while you are studying for the exam. Or, you may get pumped up and love it. Get with an agent or two, a manager or two, ask a lot of questions, see what you think. You can even walk into a local office of any kind, independent or a big captive, and just talk with people. See what you think. Make an appointment with them first, if you do not want to impose, but usually they have time to chat. Go to lunch with a manager. Things like this, will help you learn.

 

[HomeService]

BTW, some of these newb programs are funded by advancing you money against your future earnings, so beware and ask the right questions. You don't want to go somewhere and draw weekly earnings then leave and end up owe-ing back the money. Basically, be sure about this before you leave your 60 hr a week job for good. Can you be studying for your exam at night while working your other job? Yes.

 

[shawn17ths]

BTW, some of these newb programs are funded by advancing you money against your future earnings, so beware and ask the right questions. You don't want to go somewhere and draw weekly earnings then leave and end up owe-ing back the money. Basically, be sure about this before you leave your 60 hr a week job for good. Can you be studying for your exam at night while working your other job? Yes.

Thanks for the information. Keep it coming guys, I appreciate it greatly.

What type of pay should i expect while in a program such as that? Just curious to if i need to save a few months worth of bill money to make it through. And do you earn any type of commission as a captive as well?

 

[ScotinOH]

Shawn, I agree with the pevious post advice to meet some agents in your area. I know your time is valuable, but building a network is important. You goal will be to find a mentor.

 

[lookin4abetterwayinpa]

Is it realistic to walk into an insurance agency and say " I would like to work with you for a year or so until I can figure out what I am doing, then I want to go independent"? Would that really fly with most places? On the other hand I guess I only need one person to say yes, so that's an upside. I guess everyone had to start somewhere in this business and once upon a time someone probably gave them a hand, so why not in return. I apologize for my ignorance, but this can be a very confusing process for a newcomer.

 

[djs]

Is it realistic to walk into an insurance agency and say " I would like to work with you for a year or so until I can figure out what I am doing, then I want to go independent"?

I know this sounds like a strange question to ask someone, basically train me so I can become your competitor, but the truth is, most agents would relish this opportunity.

The hardest thing for an agent to do is to find someone that is motivated to do the work. It's easy to find someone who wants a paycheck, and maybe answer the phones, but it's much, much more difficult to get someone with motivation. This question shows you have some motivation.

Now, the tougher conversation to have is who would own the business you write. If he's paying you a salary, the agent would probably own the business. If he's paying you a commission, you might be able to own it, all depends on how it is structured.

It's very worth having a few conversations with local agents.

Dan

 

[HomeService]

Most of the companies pay like $450-$700/wk either "subsidized" or "draw" or "new agent salary" or "new agent bonus". Be careful to ask in interviews if this is to be paid back- if you walk. And, what you have to do to qualify, usually there are minimum sales requirements. No free lunch in this business, but then, it wouldn't be valuable if it were free. Usually the newb training and the initial work is very valuable to you- for the rest of your career. The reason we are talking so much about leaving or failing or "taking a walk", is because there is a little bit of turnover in this business. You have got to be sure about it, get a great manager, a great company, and so on. Check around, don't just jump on the first thing that sounds great. Do some interviewing. Remember, these managers are salespeople and will sell you on the merits of their company, they can get pumped up. There is nothing wrong with being brand loyal and positive and pumped up, but if it's not right for you then all the enthusiasm in the world won't help. It's a wonderful business if you get in the right situation for yourself. That situation may be a good captive company or maybe just you as an independent, it's up to you to figure it out.