One Simple Question

[pfg1]

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 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.

Yes, huge difference in old contracts and new. That was part of what ended my friends opportunity. SF corporate just made a decision and didn't seem to care about the fact that he was exceeding his production goals. They closed his branch shortly before his yearly production bonus was due and he missed a HUGE $ bonus check because of it. And yes, there are many SF agencies in my area...too many actually, imo.

 

[tikibarrister]

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!

You won't be coming back to this thread because no one is saying what you want to hear. You're looking for further emotional justification to proceed with State Farm.

The reality is that you have NOT researched this because if you did - even searching these forums - you would run screaming for the hills.

I'll just point out one thing: you will be investing five to six figures of your own money, with only mixed control over what you do with it (enjoy paying for that furniture package!) After one year, State Farm will decide if they like you and want to keep you. If no, tough - your agency closes, and your money is gone. Sounds shocking, but that is the contract. That alone should cause you to reconsider.

But I'm wasting my breath because we'll never see you again.

 

[Matthew Campbell]

You won't be coming back to this thread because no one is saying what you want to hear. You're looking for further emotional justification to proceed with State Farm.

The reality is that you have NOT researched this because if you did - even searching these forums - you would run screaming for the hills.

I'll just point out one thing: you will be investing five to six figures of your own money, with only mixed control over what you do with it (enjoy paying for that furniture package!) After one year, State Farm will decide if they like you and want to keep you. If no, tough - your agency closes, and your money is gone. Sounds shocking, but that is the contract. That alone should cause you to reconsider.

But I'm wasting my breath because we'll never see you again.

Still here reading everything, haven't scared me off yet

 

[Allen Trent]

You won't be coming back to this thread because no one is saying what you want to hear. You're looking for further emotional justification to proceed with State Farm.

The reality is that you have NOT researched this because if you did - even searching these forums - you would run screaming for the hills.

I'll just point out one thing: you will be investing five to six figures of your own money, with only mixed control over what you do with it (enjoy paying for that furniture package!) After one year, State Farm will decide if they like you and want to keep you. If no, tough - your agency closes, and your money is gone. Sounds shocking, but that is the contract. That alone should cause you to reconsider.

But I'm wasting my breath because we'll never see you again.

State Farm Faces Lawsuit Over Agents As Independent Contractors

 

[Allen Trent]

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

Google search result #1. There you go, how difficult was that? https://www.glassdoor.com/Hourly-Pay/State-Farm-Insurance-Agent-Hourly-Pay-E2990_D_KO11,26.htm

 

[Markthebroker]

Google search result #1. There you go, how difficult was that? https://www.glassdoor.com/Hourly-Pay/State-Farm-Insurance-Agent-Hourly-Pay-E2990_D_KO11,26.htm

Apparently Matthew Campbell didn't include a Google search when he was "researching online"

He lied to us and asked for our help all in the same post, and seems suprised he isn't hearing what he wants, smh.

 

[Newby]

Yes, huge difference in old contracts and new. That was part of what ended my friends opportunity. SF corporate just made a decision and didn't seem to care about the fact that he was exceeding his production goals. They closed his branch shortly before his yearly production bonus was due and he missed a HUGE $ bonus check because of it. And yes, there are many SF agencies in my area...too many actually, imo.

Surprisingly State Farm has a unique niche I just learned about. It's insuring homeowners with Pit Bulls and Pit Bull mixes. Most insurance companies have banned Pits due to their high level of expensive liability claims. But State Farm is one of the few remaining that does not discriminate against Pit Bull owners.

However, they seem to be getting adverse selected since they are spreading the cost of claims evenly including to non-Pit Bull owners. But if you are a State Farm agent that is a huge niche you can look for because "rescued" dogs are hugely popular these days and in any dog shelter I've visited 9 out of 10 dogs seems to be fully or partially Pit Bulls.