Purchasing Existing Book of Business with Allstate

[CaptiveBroke(r)]

The Allstate agent down the street from me bought his last book fall at a price of $ 600k for 4 million in premium. I am in a New England state so not sure if it varies from different parts of the country.
Lots of scuttlebutt about Allstate wanting agencies of that size or larger and pressuring smaller ones to sell out.

Did the buyer have a gun in his hand when the selling agent signed the contract? Your numbers are way off.

 

[Sales71]

Did the buyer have a gun in his hand when the selling agent signed the contract? Your numbers are way off.

I think he lied to u. 600k for 4mil in premium. Or he might have been his kid he sold it to him. Anyway a lot of the people are making assumptions about Allstate. The new comp u can get up to 16 % comm but u have to hit all ur numbers it will take lots of money to get that. From my experience with them 13 years agent it's a great company for a new agent. They have the support in place to succeed if u work hard the first 5 years. Then u have an option to buy books. But for me it's time to go to the other side IA.