Newbie to Join the FE World

[Todd King]

Great point Slushpuppy. I have found that some agents can pick it up from reading here and maybe some webinars, but some just can't. Those are the ones that need hands on training. As much as we like to bash LH, they do offer some good training. Just expect to move along once you get it figured out though.

Once you're done with LH, just remember they've taught you how to lie to many clients about different things. You'll have to relearn how to tell the truth!

 

[slushpuppyking]

Well like I said I'm not plugging LH, just any group that will offer the local training and support. Most of us come from a world of 9-5 schedules and normal grind. After doing that for 10+ years you are somewhat a fish out of water in the insurance world when you give it a go. Oh boy I can make my own schedule? Buy leads and just work 20 hours a week and make 50k+ a year? Awesome!

Reality is that undisciplined schedule is the ruin of many. No accountability is the other issue. For the successful indy guys the thought of a hand holding pressuring manager might make you sick to your stomach.......but it's exactly what a lot of new guys need.

We all agree cold calling is tough because the client can easily say no and hangup right? It's harder for them to do so face to face and that is why we go to the house to follow up on a lead.

Same thing with training and accountability. If your upline is some guy you've never met in a state you've never been to with a phone number you recognize to ignore.....than it's pretty damn easy not to a productive agent. But if you have an experienced manager/salesmen local who is waiting for you to meet him at 9AM to start working and he knows where you live.....lol well you are probably going to follow through.

It's just human nature. I think it is more productive for us to examine why agents fail in such high numbers rather than go with the typical answers like laziness, work ethic, no drive, scared to prospect, etc. That is true for some but I very much believe many agent's failure can be chalked up to simply not doing well in an independent environment since most of us haven't experienced that in our professional careers prior.

If I were a recruiter I would insist my agents spend 3 days in the field with me truly seeing what this job entails before I would let them sign any kind of contract. If they make it the full 3 days and say "yeah this is for me!" than great, fill this out and let's get you started. The ones that won't cut it are the ones that won't even show up on day 2.

All this webinar, internet training, lead advice, high contracts, crap does nothing but delay the inevitable for that type of person who would never have shown up for day 2 in the first place! Because here on the internet you can feel like you have done something in this business without ever doing anything. Oh I went to a webinar today. Oh I was on the phone with my upline learning for 2 hours! Oh I ordered my business cards! Oh I setup my toll free number and fax line! Oh boy I'm an insurance agent!

You drop 99% of those same agents in the field for a full day with a manager and THEN you will have the true measure of the person and what they will accomplish.

 

[gordon112]

That was a very informed post and I can relate. That is why I only hire locally and do hands on training along with phone calls and meetings to determine if the candidate is worth my time to hire and sign up. Most of the IMO's these days have lost tract of how important that is and just want you to sign a contract and see what sticks. In reality, they are not doing anybody any good .

That is where LH can actually be a good fit for a newbie.

I had success with no more then 5 agents and it was fine for me keeping them on tract along with my own personal production.

The only caveat would be if you are signed on by a local IMO that has meetings and goes out on sales calls with you.....very rare though..... however, most have meetings once a week or month and those can be very beneficial.

 

[jp813]

Securus is a fine organization if you get with the right team. But EFES is the same way.

You need to talk to Tim Winders at Securus. I'm partial to EFES but you could go wrong there if you get with a manager that's down the line from the RD.

I don't know about training at Securus but I do know that EFES is top notch on training. That's where the FE101 dude got his. In fact they still have an audio of him saying that he did everything just like Shannon Davey all the way down to buying the same briefcase.

Jdeasy=I tried getting in touch with Tim Winders but they referred me to a local guy here in New Jersey. Thanks so much for your input, truly appreciate it.
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jp813, you are going to get bombarded with advice on this forum but the advice you take should depend on who you are and your work ethic.

Don't get me wrong, mortgages is a tough business and obviously you have developed some skills, but I did mortgages too and the world of insurance is just different. There is no such thing as the perfect magical lead source that will give you quality clients to see each and every week. Even if there was are you truly disciplined enough right now to make those calls, canvas, follow up, and go out and get the sale?

My point is for most new guys I think the best thing you can do is go with whichever group can offer you a local manager or fellow salesmen to ride along with for a few days. I'm not plugging LH here but hey, that is exactly what they offer. You not only go out with a local person but they also teach you to work leads and the importance of door knocking the houses around the neighborhood. Perhaps most importantly they teach you discipline because you will be accountable o answering to your manager and giving reports and all that.

After 6+ months at LH if you are good then you should emerge a very capable FE agent and you will know exactly how to make it in this business. At that point get with Todd or Newby or whoever is offering good contracts around here and start making the real money. You'll know discipline, how to work and never waste a lead, and even see the benefits of door knocking.

IMO the large % of agents that fail in this business isn't just because they couldn't cut it. I feel a lot of the times they relied far too much on internet training, webinars, and coaching over the phone. A local manager on your ass and teaching you the ropes is going to fast track you to success or failure much quicker.

Slushpuppy, thank you! I will let everyone know how my meeting with Seucurs goes and what my next step is.

 

[jdeasy]

Jdeasy=I tried getting in touch with Tim Winders but they referred me to a local guy here in New Jersey. Thanks so much for your input, truly appreciate it.
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Slushpuppy, thank you! I will let everyone know how my meeting with Seucurs goes and what my next step is.

put your foot down and tell them you will only talk to Tim. You will never have more control than now.

 

[jp813]

Met with Securus this weekend and was offered 60% and a 5% over ride on anyone else I brought in. Training would be done through webinars and other online training.

 

[jdeasy]

Met with Securus this weekend and was offered 60% and a 5% over ride on anyone else I brought in. Training would be done through webinars and other online training.

That's a terrible deal.

 

[GMDM100k]

Met with Securus this weekend and was offered 60% and a 5% over ride on anyone else I brought in. Training would be done through webinars and other online training.

The last thing that you should be thinking about is bringing someone else on and getting an override.

First. 60% is not enough to make it.

Second. If you have a 5% override then that means your agents would be on 55% contracts. Definitely not enough.

Third. If you do bring anyone on they will probably read this thread and take the advice. They will get local training from you, work for six months then leave you for a higher contract and stick you with all the debt.

And last. You don't know enough about the fe market to support sub agents.

I would try to get an 80% with a lot of support with a manager that has plenty of time and energy. Then you can make some money.

 

[jdeasy]

^^I think we said the same thing. You just used more words.

 

[Newby]

Met with Securus this weekend and was offered 60% and a 5% over ride on anyone else I brought in. Training would be done through webinars and other online training.

If any of us that know what we are doing with FE were put on a 60% contract we would starve to death. A new agent that has a lot to learn will starve even quicker.

When you take on downline agents you are co-signing the debt for them. So for every $100,000 they sell you would make $5,000 but YOU must pay back any chargebacks that they are too broke to pay up to the full $100,000.

Do you think that is a recipe for success or failure?

Whoever offered you that deal should get no more chances. They are screwing you royally.