Ninety-Two Percent of All Agents Fail - Why?

[rousemark]

My point is to illustrate that whatever problems he has at his agency with the agency, firm, or manager - either real or imagined – are ultimately irrelevant to his success in our industry.

OK... This is also what everyone else has tried to tell him.

 

[Kenek]

I'll chime in here re: why offices hire so many agents - it's primarily due to the fact that it's very difficult to determine who will succeed and who won't in this career. Bruce is a perfect example. He probably interviewed well, is smart, a hard worker (as he often states), and yet he didn't make it.

Here's an example of my point. Year before last I had two newly hired agents join the office. One was in his early 30s, played college football at a division 1 school, dual major, very outgoing, and his wife was (is) an MD. Perfect description of someone who not just does OK in financial services, but truly excells. Once onboard he went and got his Series 7.

The other agent who was hired at the same time had a scientific background doing lab research wearing a white coat and peering into microscopes. Very dry personality.

Guess who is still here and the number 2 producer in the office? It isn't Mr. Series 7. He didn't make it.

Offices hire lots of agents over the course of a year because of situations like the above. Bruce, you could succeed in this career if you stopped trying to determine all that's wrong and just started setting appointments and seeing people. That is the answer. If you're worried about looking like you're unsure of product or processes, get over it. Anyone who has 8 to 12 appointments weekly will succeed, in spite of poor managers/lack of training, etc. etc.

If you can't or won't set alot of appointments every week then you are in the wrong busiess.

 

[tins]

I'll chime in here re: why offices hire so many agents - it's primarily due to the fact that it's very difficult to determine who will succeed and who won't in this career. Bruce is a perfect example. He probably interviewed well, is smart, a hard worker (as he often states), and yet he didn't make it.

Here's an example of my point. Year before last I had two newly hired agents join the office. One was in his early 30s, played college football at a division 1 school, dual major, very outgoing, and his wife was (is) an MD. Perfect description of someone who not just does OK in financial services, but truly excells. Once onboard he went and got his Series 7.

The other agent who was hired at the same time had a scientific background doing lab research wearing a white coat and peering into microscopes. Very dry personality.

Guess who is still here and the number 2 producer in the office? It isn't Mr. Series 7. He didn't make it.

Offices hire lots of agents over the course of a year because of situations like the above. Bruce, you could succeed in this career if you stopped trying to determine all that's wrong and just started setting appointments and seeing people. That is the answer. If you're worried about looking like you're unsure of product or processes, get over it. Anyone who has 8 to 12 appointments weekly will succeed, in spite of poor managers/lack of training, etc. etc.

If you can't or won't set alot of appointments every week then you are in the wrong busiess.

One of the better first posts I've ever seen. It was on topic and not trying to sell anything.
Welcome to the forum!

 

[rousemark]

I'll chime in here re: why offices hire so many agents - it's primarily due to the fact that it's very difficult to determine who will succeed and who won't in this career. Bruce is a perfect example. He probably interviewed well, is smart, a hard worker (as he often states), and yet he didn't make it.

Here's an example of my point. Year before last I had two newly hired agents join the office. One was in his early 30s, played college football at a division 1 school, dual major, very outgoing, and his wife was (is) an MD. Perfect description of someone who not just does OK in financial services, but truly excells. Once onboard he went and got his Series 7.

The other agent who was hired at the same time had a scientific background doing lab research wearing a white coat and peering into microscopes. Very dry personality.

Guess who is still here and the number 2 producer in the office? It isn't Mr. Series 7. He didn't make it.

Offices hire lots of agents over the course of a year because of situations like the above. Bruce, you could succeed in this career if you stopped trying to determine all that's wrong and just started setting appointments and seeing people. That is the answer. If you're worried about looking like you're unsure of product or processes, get over it. Anyone who has 8 to 12 appointments weekly will succeed, in spite of poor managers/lack of training, etc. etc.

If you can't or won't set alot of appointments every week then you are in the wrong busiess.

Well said... .................

 

[adamhawley]

Well written, Kenek. Thanks!

So, the question I have is WHY didn't Mr. All America not make the calls/appointments? Was he "above it?" Did he not need the dough because wife was an MD?

If we could get it all figured out, we'd make a ton of money, because failed Agents cost a fortune.

My old company used a personality test. It was about an hour long, and a total waste of time. But, they spent well over a million bucks on the license!

Like Kenek said, it's about setting the appointments. AKA kicking your own butt. That takes passion, which I don't believe is measurable in any sort of test.

During the interview process, I always ask the candidate what their favorite hobby is, and if they think I should give it a try. Watching their body signs is a good teller. If they can't be passionate about what they love the most, don't hire them to be an Agent.

Thanks again, Kenek and others!

 

[WinoBlues]

Well written, Kenek. Thanks!

So, the question I have is WHY didn't Mr. All America not make the calls/appointments? Was he "above it?" Did he not need the dough because wife was an MD?

If we could get it all figured out, we'd make a ton of money, because failed Agents cost a fortune.

My old company used a personality test. It was about an hour long, and a total waste of time. But, they spent well over a million bucks on the license!

Like Kenek said, it's about setting the appointments. AKA kicking your own butt. That takes passion, which I don't believe is measurable in any sort of test.

During the interview process, I always ask the candidate what their favorite hobby is, and if they think I should give it a try. Watching their body signs is a good teller. If they can't be passionate about what they love the most, don't hire them to be an Agent.

Thanks again, Kenek and others!

John Hancock gave me and the other six hires that test. They all passed it, I failed it. Same for the next dozen or so hires in the year and a half I was there. I am the only one still in the business. (maybe they were the smart ones)

 

[Kenek]

So, the question I have is WHY didn't Mr. All America not make the calls/appointments? Was he "above it?" Did he not need the dough because wife was an MD?

The short answer is yes - he wouldn't make the effort to make the phone calls beyond a token effort, and the need for an income wasn't as strong as it may have been otherwise.

Nice guy and all that, but he didn't have the entrepreneurial mind-set that succcessful agents have. This is not a job; you are building a business from the ground up. If you understand that you are much better situated to succeed. ​

 

[Praeter]

While reading over this thread, I feel like I'm in the same position as Bruce/GladtoBeHere. I'll say up front that, to an extent, it is my fault and I take responsibility.

Since I work for captive p&c, I've realized it's such a rat race and while on a personal level I get along greatly with my coworkers, we completely disagree on how things should be on the work level.

Example would be the hot shot 22 year old that's been in the office 5 months longer than me who will tell everyone (manager included) how they should not only do their job but how they should also run their personal lives. That's fine because you can brush that off. The issue lies within this person ONLY doing selling and not one other thing while we're all constantly reminded we share cs duties. This came to a head today when, yet again, this person pushed off taking a payment from a walk in and our "customer service girl" sat in her back office doing nothing. Since I try my hardest to do the right thing, I handle the client and get her on her way. After bringing this up to the office manager, the excuse I get is, "you see what he's producing. Yes I know he needs to take payments, but this really isn't a big deal" I just flatly replied, "I understand, when producing the numbers you need, things like payments and other cs duties are put to the side." Of course blame gets put on me for my bad attitude.

I see the outcome of this field and how great it can be, but I'd be kidding myself if it wasn't a struggle to stay positive, at least while working for captives. I'll just try my hardest to push forward and do for me and my wife.

 

[VolAgent]

So, would you rather be right, or would you rather make money?

I know where my vote lies.

I recommend you emulate his behavior as far as the office goes. Sales people sale, customer service people service customers.

 

[briko3]

While reading over this thread, I feel like I'm in the same position as Bruce/GladtoBeHere. I'll say up front that, to an extent, it is my fault and I take responsibility.

Since I work for captive p&c, I've realized it's such a rat race and while on a personal level I get along greatly with my coworkers, we completely disagree on how things should be on the work level.

Example would be the hot shot 22 year old that's been in the office 5 months longer than me who will tell everyone (manager included) how they should not only do their job but how they should also run their personal lives. That's fine because you can brush that off. The issue lies within this person ONLY doing selling and not one other thing while we're all constantly reminded we share cs duties. This came to a head today when, yet again, this person pushed off taking a payment from a walk in and our "customer service girl" sat in her back office doing nothing. Since I try my hardest to do the right thing, I handle the client and get her on her way. After bringing this up to the office manager, the excuse I get is, "you see what he's producing. Yes I know he needs to take payments, but this really isn't a big deal" I just flatly replied, "I understand, when producing the numbers you need, things like payments and other cs duties are put to the side." Of course blame gets put on me for my bad attitude.

I see the outcome of this field and how great it can be, but I'd be kidding myself if it wasn't a struggle to stay positive, at least while working for captives. I'll just try my hardest to push forward and do for me and my wife.

Did you quit cold calling, talking to a client or trying to get a client to service the walk-in? If not, there's nothing to really complaing about. If you quit any of those things, don't quit them next time and you'll be doing what he does soon enough.