One Simple Question

[Helpico_Insure]

I think your best bet is to ASK the retiring agent and get all of the details so you know how much rent, salary, bills are going out the door before YOU get paid

 

[Helpico_Insure]

Check your contract with SF. Check what book you'll be inheriting. Read all of the above and make simple math. You'll be in a business where SF is your BOSS. Learn for few years and go INDI

 

[Markthebroker]

after reading through this forum and researching online I still have one simple question. What take home pay can an insurance agent expect to make?

The fact that your are asking this question clearly shows that you have not been reading through this forum or researching online.

 

[Matthew Campbell]

The fact that your are asking this question clearly shows that you have not been reading through this forum or researching online.

I have researched quite a bit and no one seems to really gives much of a range. I was hoping someone like yourself with obviously more knowledge would help out and give me a better idea. Would you mind doing that?

 

[Matthew Campbell]

Check your contract with SF. Check what book you'll be inheriting. Read all of the above and make simple math. You'll be in a business where SF is your BOSS. Learn for few years and go INDI

Thank you, I haven't been offered a contract yet but I was hoping to get a better idea to see if it'd be worth pursuing further

 

[Markthebroker]

I have researched quite a bit and no one seems to really gives much of a range. I was hoping someone like yourself with obviously more knowledge would help out and give me a better idea. Would you mind doing that?

Matthew, here is my problem. If you have "done your research" you would know there is a huge range in potential income. So if you don't know that, then evidence suggests that there is plenty more about this business you aren't aware of despite that you have "done your research".

I can't speak for Colorado, but in my area a successful State Farm agent (and I know many) will be in six figure debt in their second year. Will they have a successful business to show for it? Or will the SF contract get canceled for some bs reason like the one I helped build? Will SF even be a viable business in the next 10 years? I doubt it. Will you have made enough to cover your borrowing? Who knows. Will you be filthy rich or flat broke in 5 years? Who knows.

So, how much could you make? Between negative 6 figures and positive six figures. When this is all said and done, you will be panhandling from a cardboard box, eating caviar in a mansion, or somewhere in between.

 

[Matthew Campbell]

Matthew, here is my problem. If you have "done your research" you would know there is a huge range in potential income. So if you don't know that, then evidence suggests that there is plenty more about this business you aren't aware of despite that you have "done your research".

I can't speak for Colorado, but in my area a successful State Farm agent (and I know many) will be in six figure debt in their second year. Will they have a successful business to show for it? Or will the SF contract get canceled for some bs reason like the one I helped build? Will SF even be a viable business in the next 10 years? I doubt it. Will you have made enough to cover your borrowing? Who knows. Will you be filthy rich or flat broke in 5 years? Who knows.

So, how much could you make? Between negative 6 figures and positive six figures. When this is all said and done, you will be panhandling from a cardboard box, eating caviar in a mansion, or somewhere in between.

All that matters to me is that at the end of the day I can get online and say negative things to someone trying to learn more, thanks Mark!

 

[Markthebroker]

All that matters to me is that at the end of the day I can get online and say negative things to someone trying to learn more, thanks Mark!

Matthew, if you can't survive criticism from us, you won't be able to survive the rejection of the customers. If you can't research this industry to find basic information, you won't be able to learn insurance.

This can be a tough business. If you are going to be this dainty and delicate about it, this may not be the path for you.

 

[pfg1]

SF has done some shady stuff recently to newer agents in the business. I'd be REAL sure to make sure you know what you are doing. A friend of mine lost about $250k with them, and was blowing his goals away when they decided they didn't need his location anymore (after basically begging him to come work for him and open a shop). He was open just under 2yrs when they terminated his contract.

And yes, nobody can accurately answer that. You could do great and make a living that will increase over time, or flop.

 

[Newby]

You need to ask a few newer State Farm agents. The old agents had a rich contract and made great money. The more recent agents do not have anything like that. Most newer State Farm agent's don't seem to be making great money but can earn a living. Maybe they are doing better than I think they are though.

There are about 50 million of them. If I was thinking of getting into that line I would definitely drive to a few cities that aren't competing with my area and take a few of them to lunch to talk in detail.