The Deplorable
Expert
- 32
The Unknown Comic was fantastic! The Gong show was great back in the day with Chuck Barris.
Settlers Leaders
- Thread starter rousemark
- Start date
The Unknown Comic was fantastic! The Gong show was great back in the day with Chuck Barris.
- 30,590
I think Chuck was with the CIA.
- 17,077
I have always made life easy by having and using price busters. I think agents are insane if they pay good money for leads and don't arm themselves with competitive companies.
When you go on an appointment from a lead card and discover they already have something and you ask " what were you looking for when you mailed in the card?" What is your #2 answer? Everyone knows the 2nd most common answer is "lower price. " (The #1 answer of course is I was hoping it would be free.)
If you have no price busters what do you do for those that have a policy but were actively looking for a lower price?
What about your own customers that call you and say Hey Merv, I really like you as my agent but another guy came by today and quoted me XYZ company for 15% less. I don't love you enough to take $1500 away from my kids.
Price busters are important to me. Always have been.
- 1,912
Leading with price busters (regardless of the situation) is one of the worse things you can do as an agent. You are giving up WAY too much commission.
- 30,590
How much commission are you giving up if you don't get the sale BECAUSE yo don't have a price buster?
- 5,944
They have a place in your quiver, I hate going home with nothing to eat...
if you can't shoot a buck then put a bead on a rabbit...
- 1,912
How much commission are you giving up if you don't get the sale BECAUSE yo don't have a price buster?
I said leading with a price buster, not selling a price buster.
- 17,077
Like how much? Oxford for instance pays 120%. KSKJ is 100%. Standard Life is 105%. Trinity is 110%. That doesn't seem like very much of a reduction if you are closing more cases by having lower rates. Plus could anyone argue that lower premiums stay on the books much better than higher priced premiums? So just by the higher persistency it seems like a winner even if you are giving up a little commission percentage.
It's not uncommon to get calls from agents who are selling the higher priced companies AND have low commissions. I get calls all the time from agents on 75 to 100% commission levels on the higher priced companies.
- Thread starter
- #99
Using a price buster does not mean you are just giving up commission because the company pays a lower rate (if that be the case), you also loose commission because the decreased premium. Assume both pay the same 110% commission rate, price buster premium $50, other company $60... The PB pays $132 less first year commission. . If you have 80% persitency on the higher priced company, you make $633... You have to have 96% persistency on the PB to make the same money.. Don't think that is going to happen. If the PB pays 10% less commission than the other, then your persistency would have to be 100%+ to pay what the high plan pays with 80% persistency.
- 6,027
good point
