Sell Your Agency

[Stephen]

The market for Insurance is not soft for experienced agents, people still need to protect their families and property.If insurance purchases are down , it would most likely mean fewer agents.

Even if there was a soft market, how would it benefit an agent that has spent years building his residual income to sell his book for pennies on the dollar?

If said agents income is falling each year why would you want to buy his flailing agency, because you could run it better than him?

 

[WinoBlues]

May depend on the type of agency he is buying and why.

In my case I have picked up several old life books. I do not do Adult Day Care (recruiting). So I pick them up to service. In the majority of the cases I leave the renewals to the original agent or their widow.

I want the clients. I want the referrals. I want the conversions. I want the add ons. I want the up sales. And as desert boy guessed, I am lazy. And I do not do cold calls or buy leads.

I agree that there seems to be less agents. Which means more orphan accounts for me to AOR. Also a lot of Insurance salesmen, again, more AORs.

>>""If said agents income is falling each year why would you want to buy his flailing agency, because you could run it better than him?""

Yup! And if you were an old life guy that is now out of the business. Your renewals are drying up. People are tired of calling you for service and being told to call the HO. And worst yet, you have some one like me replacing your business. Would it not be better to have an "agreement" with the Pirate, Than to just sit back and let him plunder your stock?:

We all do this business in different ways. No real wrong way or right way. Nor any real new ways or systems.

The market for Insurance is not soft for experienced agents, people still need to protect their families and property.If insurance purchases are down , it would most likely mean fewer agents.

Even if there was a soft market, how would it benefit an agent that has spent years building his residual income to sell his book for pennies on the dollar?

If said agents income is falling each year why would you want to buy his flailing agency, because you could run it better than him?

 

[Stephen]

Interesting. How much does it cost to purchase a client if you don't want the renewals?

 

[WinoBlues]

Interesting. How much does it cost to purchase a client if you don't want the renewals?

If you are asking me, Mostly I have gotten them free. I have also paid 1-2 years of renewals.

ps.... it really only works if you are an Insurance Agent. Would not work as well if you are an Insurance Salesmen. Based on a service model.

 

[Denveragent]

There are so many baby boomers retireing right now and only so many people coming into the business. I have been most successful working books of business rather than leads, etc.. Many times I can get clients into better programs than they are in now and if not I still want them to be my clients for referrals(Best way to get new clients) if nothing else.