Overcoming recruiting objections

[tomr15]

Hello all, I've been stepping back from the field and focusing more on recruiting recently, and I noticed I have been receiving the same pattern of objections from the NAA, Lincoln, Bankers etc agents. I was wondering what some good responses are to the following:

1) (When talking about contracts) "115% of $5,000 is a lot less than 60% of $30,000!" I get this one a lot, I was told the same thing when I was wasting away at an IMO with low comp. Whenever I offer a higher contract to one of these people, this is the inevitable response. Obviously, this is just gaslighting, it assumes that someone at a higher contract inherently is going to write less than someone at a low contract, which is absurd. But, what is a good retort to this?

2) "You have so many companies, it's easy to do nothing at all." This one stumps me, it is assuming that because I have access to 15 or so different companies, its overwhelming and I'm just going to sit at home in the fetal position. Typically, I get this one from Lincoln and Bankers agents.

 

[Stephen]

I am not a recruiter , but I get a ton of recruiting calls. The huge mistake that you are making is that you think just because you know how crappy Bankers and LH are , you think that they are should understand that as well. You aren't going to be able to undo hours and hours or brainwashing on one phone call.

The best thing that you can do is take the time to listen , learn about their business model and them as a person. Let them know about yourself and your business , and then ask for permission to keep in touch . At some point they will learn for themselves and you can place yourself "on deck"

 

[DHK]

Responses to objections are always an opportunity to see what it would be like to work with you. As Stephen said, definitely ask questions about their business model, etc.

I was wondering what some good responses are to the following:

1) (When talking about contracts) "115% of $5,000 is a lot less than 60% of $30,000!"

"You're right. So, let me ask you a question: How often are you selling that $30,000 of volume? Compensation structures mean very little without the ability to create volumes of business."

2) "You have so many companies, it's easy to do nothing at all."

"That's our job: to help you determine which company and product are the best fit for your client's health and financial situation. Of course, your job is to learn as you go and to bring us the cases to work on together. Of course..., if you'd rather do nothing at all..., then that's an interesting insight into your work ethic and maybe you're not a fit for us after all? I'm sure you didn't really mean that, right?"

 

[Newby]

Hello all, I've been stepping back from the field and focusing more on recruiting recently, and I noticed I have been receiving the same pattern of objections from the NAA, Lincoln, Bankers etc agents. I was wondering what some good responses are to the following:

1) (When talking about contracts) "115% of $5,000 is a lot less than 60% of $30,000!" I get this one a lot, I was told the same thing when I was wasting away at an IMO with low comp. Whenever I offer a higher contract to one of these people, this is the inevitable response. Obviously, this is just gaslighting, it assumes that someone at a higher contract inherently is going to write less than someone at a low contract, which is absurd. But, what is a good retort to this?

2) "You have so many companies, it's easy to do nothing at all." This one stumps me, it is assuming that because I have access to 15 or so different companies, its overwhelming and I'm just going to sit at home in the fetal position. Typically, I get this one from Lincoln and Bankers agents.

Just answer them with logic that makes sense.

Do you think if you sell companies with lower premiums you are going to sell LESS? Or more? If the company you are writing for right now suddenly lowered their premiums and got more aggressive on underwriting, would that help you or hurt you?

What are you getting from your current situation that you feel you would not get as an independent?

 

[somarco]

Answer a question with a question.

So 115% isn't better than what you get now? What would be a fair percentage based on your current average production? And how much do you normally write that get's issued and taken?

If you qualify, I can offer you contracts with 15 different carriers. Which one(s) would you prefer to use?

 

[Cornelius]

Which is why the network marketing organizations target greenies. Try emphasizing the whole contract rather than just commissions. Can they build also? Do you have or are they under and sort of noncompete? Vesting/retirement..If they joined with you and if they wanted to leave what can they take with them?

Biggie..Support..

In closing a no Today may not mean no forever..Good luck..

 

[shonceman]

When I was recruiting for a captive company, we were taught to find people with a "thread of discontent" with their current situation. Then you focus on that area of discontent, and how your opportunity might help. If you can't find the thread, they're not likely a candidate. So, as you mentioned, you might ask permission to stay in touch. But you move on.

 

[Rearden]

First thought... are you doing enough activity?

Like selling insurance, most people aren't going to be interested.

You're going to have to put in a large level of activity on a weekly basis to talk to potentially-interested agents who are looking to make the change.

Second, your style of marketing for agents is largely preemptive.

If I were to do what you're doing (calling a cold list), I'd look at recruiting as a 3 to 6 month sales cycle, talking with those who express initial interest, but aren't ready to make a move.

Sure - you'll capture some in the window of opportunity, but the large majority will come from follow-up and touching base.

Think of the typical Lincoln Heritage agent. He's juiced up on the Kool-aid for the first 3 to 6 months before he starts seeing how low-priced his competition is, and how much commission he can get going independent through his interactions with other agents, and other people cold calling him.

Combine that with the inevitable chargebacks caused from low-price replacements, he'll eventually work himself into reconsidering his bias towards his current arrangement. But understand this is something HE has to experience, to work through on his own.

He might make the move immediately at that point, but most likely he'll be looking to move over the next 3 to 6 months as he gets things straightened out.

I think a strategy like this would be quite fruitful over the course of several years with a consistent level of activity. Combine that with a sales and marketing system to help these agents grow... I think you'll have a winner =).

Hello all, I've been stepping back from the field and focusing more on recruiting recently, and I noticed I have been receiving the same pattern of objections from the NAA, Lincoln, Bankers etc agents. I was wondering what some good responses are to the following:

1) (When talking about contracts) "115% of $5,000 is a lot less than 60% of $30,000!" I get this one a lot, I was told the same thing when I was wasting away at an IMO with low comp. Whenever I offer a higher contract to one of these people, this is the inevitable response. Obviously, this is just gaslighting, it assumes that someone at a higher contract inherently is going to write less than someone at a low contract, which is absurd. But, what is a good retort to this?

2) "You have so many companies, it's easy to do nothing at all." This one stumps me, it is assuming that because I have access to 15 or so different companies, its overwhelming and I'm just going to sit at home in the fetal position. Typically, I get this one from Lincoln and Bankers agents.

 

[StarterAgentKG]

"You're right. So, let me ask you a question: How often are you selling that $30,000 of volume? Compensation structures mean very little without the ability to create volumes of business."

Just thought is was a funny and also GREAT response. I responded to a Primerica recruiter/ agent sort of the same way. I asked "How many policies have you sold vs. trying to recruit people." his response was "so many he doesn't even have a number."

When I was recruiting for a captive company, we were taught to find people with a "thread of discontent" with their current situation. Then you focus on that area of discontent, and how your opportunity might help. If you can't find the thread, they're not likely a candidate. So, as you mentioned, you might ask permission to stay in touch. But you move on.

Yes, I use to do the same thing, we were told to go to different trade shows. The assumption was the lead generators at the company booths there were getting paid $12- $15 hourly with maybe a small bonus.

They told us to actually ask them at the booths how much they made per lead. And act like they were getting taken advantage of completely by there company give them our card and take there number. basically try to convince them there talent is being wasted there.

 

[Rearden]

That's like telling an insurance client that they're stupid they decided on buying Lincoln Heritage versus my company.

Insulting the agent's intelligence won't get you very far.

Just thought is was a funny and also GREAT response. I responded to a Primerica recruiter/ agent sort of the same way. I asked "How many policies have you sold vs. trying to recruit people." his response was "so many he doesn't even have a number."



Yes, I use to do the same thing, we were told to go to different trade shows. The assumption was the lead generators at the company booths there were getting paid $12- $15 hourly with maybe a small bonus.

They told us to actually ask them at the booths how much they made per lead. And act like they were getting taken advantage of completely by there company give them our card and take there number. basically try to convince them there talent is being wasted there.