PhxSunsFan
Guru
- 602
If an agent gets a 100% comm from one of the FE Carriers thru their fmo, imo, , how much does the IMO, fmo,, etc get from tht sale?
None of my business question ?
- Thread starter PhxSunsFan
- Start date
Depends upon the company and your IMO's contract level but what difference does it make?
- 4,125
Obviously depends on how much that particular carrier pays but you have to keep in mind the organization has business expenses to pay for. They likely are not just sitting back and collecting overrides with no expenses or risk.
- 26,134
I agree that as long as I get mine I don't really care what they get above me.
But that does bring up the question - what kind of expenses? I understand they are all different.
- 4,125
Office
Staff
Lead generation
Training events
Rollups
Staff
Lead generation
Training events
Rollups
- 17,072
You just always want to remember that companies consider the 1st 2-years of annual premium (200%) is the cost of getting the policies sold. Most of that goes out in commissions to agents/managers. But some goes to other sales costs.
The commissions posted on the FexContracting website are fair commission levels for new agents who work independently and pay for their own leads. It allows agents who work effectively to make good money and allows the Upline (FexContracting) enough margin to provide quality training to the agents, set cost direct mail for the agents, free quoting software to the agents, and the latest greatest underwriting web based underwriting program for the agents (replaces the old fashioned cheet sheets and spreadsheets). So there is enough margin at those levels for the Upline to provide what agents need plus still make a profit for the agent and Upline.
So rather than worry what others are making, you should be more aware that you are getting your fair starting commission if you are a new agent. If you are getting more than those levels you are above average. If you are getting less you are below. If you are getting substantially less you should be making a move.
But the IMOs are making plenty of money. You don't need to worry about them.
- 26,134
I get paid directly by a few companies such as SNL and United Heritage. I rarely call an up line for anything.
Most uplines and carriers are useless.
When I transitioned from 100% group insurance to individual health, my upline including carriers were no help. Got more bad advice than good. This forum was more help than anything.
Ten years ago when I transitioned again to Medicare this forum and a handful of agents willing to share really meant a lot. I won't name names for fear of forgetting someone, but Frank Stastny helped me a lot. I found his methods a bit outdated but most of his advice on the way Medicare works was spot on.
- 1,819
Depends on if your imo has the highest contract for the carrier. I'd say average is maybe 140-150 ? Maybe some others can chime in.
