Real Estate Broker who Just Got Insurance Brokers License but Does Not Have a Clue (or Carriers).

[TwiLight]

As a newby, and having no clue. You will never get binding authority until you learn and write some business in a CLUSTER. This is important.....Your landlord wants binding authority and he/she will still not be able to get it right away while you are learning the business through a CLUSTER.

Forget about employing anyone. How can you effectively manage, service and protect yourself from liability if you do not have the experience.

Your business model as defined in your posts will most certainly be a challenge for you to succeed.

The best advise I will give you is to talk with a CLUSTER and partner with a local Agent in the CLUSTER that has binding authority. You may have more success and still get the binding authority you will need.

 

[sonnymooks]

I'm an independent broker in NJ and I work directly with SmartChoice. If you have any questions don't hesitate to contact me.

I'm not even blinking, I sent you a message.

I really need all the info I can get, up until a few days ago, I didn't even know what a cluster was.

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As a newby, and having no clue. You will never get binding authority until you learn and write some business in a CLUSTER. This is important.....Your landlord wants binding authority and he/she will still not be able to get it right away while you are learning the business through a CLUSTER.

Forget about employing anyone. How can you effectively manage, service and protect yourself from liability if you do not have the experience.

Your business model as defined in your posts will most certainly be a challenge for you to succeed.

The best advise I will give you is to talk with a CLUSTER and partner with a local Agent in the CLUSTER that has binding authority. You may have more success and still get the binding authority you will need.

I'm already contacting clusters. Even if I am lucky and get picked up, I know there is alot to learn, and alot I don't know. How does one get binding authority in a cluster ? I don't even know how to partner up inside a cluster. I only learned what a cluster was a few days ago (though I did start contacting some right away) but I don't even know how to properly compare and contrast them.

 

[TwiLight]

but I don't even know how to properly compare and contrast them.

Contact your States BIG I. In NY that would be at: IIABNY

They will be able to talk to you about membership and an impartial voice to help you learn more.

They also should be able to assist you in the negotiation of contracts as a member.

Good Luck. You have a lot of work ahead of you.

 

[FL P&C Broker]

Just god for thought, but who is going to do your old job if you take on the new venture?

 

[sonnymooks]

They will be able to talk to you about membership and an impartial voice to help you learn more.

They also should be able to assist you in the negotiation of contracts as a member.

Good Luck. You have a lot of work ahead of you.[/quote]

If I was afraid of work, I wouldn't be where I am. I'm already looking at that page (and thank you very much, I appreciate the help). I am going to contact them.

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Just god for thought, but who is going to do your old job if you take on the new venture?

I have a fully staffed office, I can still handle the leasing, if anything, I'm likely to do this concurrently and make it a part of our process.

We're structured to run, even if I am not available, so this shouldn't change much administratively.

 

[FL P&C Broker]

I have a fully staffed office, I can still handle the leasing, if anything, I'm likely to do this concurrently and make it a part of our process. We're structured to run, even if I am not available, so this shouldn't change much administratively.

For the sake of your customers hire somebody with some insurance experience.

The last thing you want either is an E&O claim because nobody on the staff knows what they are doing. And training alone isn't always enough.

 

[sonnymooks]

For the sake of your customers hire somebody with some insurance experience.

The last thing you want either is an E&O claim because nobody on the staff knows what they are doing. And training alone isn't always enough.

Thats pretty much a given. I'm not arrogant enough to think that I can walk into an industry with zero experience and do the same things that guys have been doing for years/decades.

As of right now, my plan is to join a cluster, and hire an experienced person to handle insurance duties (with my support staff providing assistance).