Ninety-Two Percent of All Agents Fail - Why?

[briko3]

So what you're saying is that he made over $50 an hour for that 4.5 hour average he was going door to door? Over $50,000 for a typical work year but only working 4.5 hours per day? I'm not saying that's a ton of money, but what are you expecting out of this business?

I know a guy who spent 4-5 hours doing that only to close one $20/month deal.



That would be best, yes. In which case what is the manager's role? On paper, he is supposed to be training you. You might as well not join a company if they are not even going to train you.

 

[jerry176]

and the next time your buddy prospects for 4-5 hours, he finds a 200 month premium, a 100K CD to move into an annnuity, and 3 referrals.....Thats why the call iit prospecting.

 

[Guest]

You may want to add the commission level someone would need to be at to earn $75K annually for one app per day.

I do it without purchasing any "leads". I generate my own. I don't go on a lot of appointments. I only schedule them when they know I'm coming to write an app and pick up a check.

I quit "dropping off valuable information" and/or "doing a Medicare Supplement review" many years ago. The way I do it I close over 95% of my appointments.

My goal has always been to write one app a day, five days a week, fifty-two weeks a year. That will generate about $75,000 in commission income. To achieve that goal I really only need one appointment a day. Many of the appointments will be with both a husband and wife. That's two apps.

The agent should carry at least 90% of that into the second year in the way of renewals and the next year do the same thing. In three or four years the agent can be making some decent money.

 

[Question]

So what you're saying is that he made over $50 an hour for that 4.5 hour average he was going door to door? Over $50,000 for a typical work year but only working 4.5 hours per day? I'm not saying that's a ton of money, but what are you expecting out of this business?

Errr over $50 an hour? How do you figure that? A $20/month premium with 20% commission is....$4/month commission...

 

[YouGotMyMoney]

You may want to add the commission level someone would need to be at to earn $75K annually for one app per day.

One app a day--5 days a week-----52 weeks a year is about $300 in commission a day to hit $75k fyc.


If you did 1 med supp a day @ 1500 AV, and an avg commission of 18%, that's $270 in fyc. By cross selling a little bit of life/fe, an agent should def hit the $300 a day?

 

[Frank Stastny]

One app a day--5 days a week-----52 weeks a year is about $300 in commission a day to hit $75k fyc.


If you did 1 med supp a day @ 1500 AV, and an avg commission of 18%, that's $270 in fyc. By cross selling a little bit of life/fe, an agent should def hit the $300 a day?

I think I've read that before.

That is very doable for an experienced agent. If an agent does their due diligence and stays in contact with their clients then the agent should carry at least 90% of the earned commission that year forward to the next year in renewals.

 

[COInsguy]

I think I've read that before.

That is very doable for an experienced agent. If an agent does their due diligence and stays in contact with their clients then the agent should carry at least 90% of the earned commission that year forward to the next year in renewals.

I would say that's lazy for an agent with proper training and a drive to succeed. I don't personally do med supps but know the numbers of some awesome individuals that are rather annoyed with only 1 app a day. They don't have 10 years experience....some don't have 1 year experience. It can be done if you decide it's what your going to do. If you think this is impossible than (for you) you're probably right.

 

[Frank Stastny]

I would say that's lazy for an agent with proper training and a drive to succeed. I don't personally do med supps but know the numbers of some awesome individuals that are rather annoyed with only 1 app a day. They don't have 10 years experience....some don't have 1 year experience. It can be done if you decide it's what your going to do. If you think this is impossible than (for you) you're probably right.

You must learn to read what is typed instead of looking for ways to criticize what is said. All I did is comment on YouGotMyMoney's statement saying that one app per day or 260 apps a year is "very doable".

I didn't say anything about it being an ultimate goal that agent should strive for. I just said it can easily be done.

Besides, are you calling an agent "lazy" who earns $75,000 per year in new commission income each year and carries at least 90% ($67,000) of that years earned commission forward year after year lazy? (In the majority of states Med Supps pay first year commission for the first six years.)

If so, then I think we all have a new "hero" that everyone here needs to emulate. Your personal production each year must be in the hundreds of thousands of dollars every year. Definitely "hero" status.

I would say it is very obvious that you don't sell Med Supps. As far as "talking" to other agents, well we know what that is all about don't we?

 

[briko3]

I assumed life ins. at 95%

 

[YouGotMyMoney]

I love this business due to the fact that it only matters what you do and not what anyone else's income or production is.