Recruiting Insurance Agents For Agencies ? ?

Aug 27, 2008

  1. myinsurebiz
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    myinsurebiz Guru

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    Recruiting Insurance Agents For Agencies seems to be an ongoing process.

    Here's the reason for my post:

    I had an agency ask me today to help them recruit some quality agents - and they would compensate me for doing it.

    They offered $3,000 upfront + $500 for every agent after the first 6 agents - so, basically $500 per agent. They wish to make a 20 agent commitment over the next 60 days. Just in time to get trained for Open Enrollment killing season.

    $500 per agent - that seems strong. I can't pass it up.

    We'll use local marketing - free print ads, craigslist, DOI lists, Live Onsite Recruiting Seminars, Live Online Recruiting Webinars, email blasts and google adwords / adsense, etc.

    For a quality agent that is either already licensed or begins the licensing process - is $500 not enough?

    Your thoughts appreciated,

    Tom
     
  2. GreenSky
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    GreenSky Guru

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    Tom:

    No offense but just how many different things are you going to do before you finally get a job?

    Rick
     
    GreenSky, Aug 27, 2008
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  3. theinuranceguy
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    Whatever happened to selling from your home and starting a call center?

    Plus for $500 you are recruiting agents at a reduced commission for lead support. Since you all about creating agencies, why dont you just do that, create an agency.
     
  4. myinsurebiz
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    Case in point :

    An agency that I am setting up a Call Center down in Savannah, GA doesn't like to recruit - and since I'm putting in a 16 seat Call Center - they need agents. I can make that happen in 4 to 6 weeks.

    I mean - what better way to service an existing client but by doing things they hate, yet I love AND get paid to do it.

    I'm just curious if $500 is to low? They offered $500 very quickly and it didn't seem to dent their wallet.

    LOL - Rick - I'm a multi-tasker Dude . . .

    4th Quarter 2008 will be great!

    Tom
     
  5. theinuranceguy
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    Tom what will they be paying their agents? If its 200 per app then $500 is very cheap.

    Also, will they be cold calling? That will be a no no in Nov...
     
  6. myinsurebiz
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    #1 - We are doing just that - except we don't have a Call Center - we set others up with them. Have 2 orders presently.

    #2 - Not with these guys. They are paying 100% contracts - taking a 15% over-ride and selling pre-qualified leads to their agents. I get a little 5% over-ride.

    In addition - for 100% and discounted leads - this specific Call Center is charging a $249 Monthly Office Access Fee to the participating agents. Heck an office with computer, free long distance, DSL, Fax/Copy, etc - for $249 - what a deal.

    They market strictly Life. They are jumping into the MA market come OP.

    #3 - No agency for me - that would be a headache. I've decided to just build Call Centers, catch a little over-ride and I guess now - recruit their agents for them . . .

    Thanks for the input.

    Tom
     
    Last edited: Aug 27, 2008
  7. theinuranceguy
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    For some reason I thought they would be doing Medicare. But this sounds interesting....
     
  8. myinsurebiz
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    No - they are going to be doing MA's between 11/15 and 12/31.

    They are strictly a life group - but since they can now do the MA's via TeleSales - they are going to utilize the Call Center for that as well.

    On the MA side - I think they pay a flat $$ amount per app - between $450 and $550 were the ranges. I'll learn that next week. I believe it's with HealthNet and WellCare - maybe even CIP - I'll know next Tuesday. CIP was only $200 to $300 I think.
     
  9. myinsurebiz
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    As long as I get my upfront cash and my 5% commission for the Call Center - I'm happy. If they want to pay $500 per agent - heck - that's $10k for 20 agents . . .

    People are hungry. Real Estate Agents, Mortgage Brokers, etc - they are looking to make some extra cash.

    So - is $500 to low?

    Thanks,

    Tom
     
  10. GreenSky
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    I think not! CMS has required monthly commissions to be the same level new and renewal. Don't count on more than $35 from anyone.

    Rick
     
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