johnnybgood
New Member
- 13
Just wandering if anybody out there has any experience and advice on starting GA i can produce leads just need to know how to get contracts
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Starting An FMO
- Thread starter johnnybgood
- Start date
- 11,997
Let me start by saying all the power to you. That being said:
FMO? Do you mean GA? Pardon the skepticism, but I have a few questions.
-Do you currently have over 2,000 agents or are at least planning on it in the near future?
-Are you licensed in at least 35 states?
-Can you commit HUGE numbers to carriers and deliver on them?
Most FMO's don't provide leads and even if they do most agents (especially on here) would rather have higher commissions and generate leads on their own.
As far as legal surprises go, you're going to need a lawyer to draft up producer agreements that clearly explain what you are liable for AND that will protect you from chargebacks if you don't pay commissions on an as earned basis. That's really just for starters, you're also going to need a staff to service your agents, handle relationships with the carriers, have some way of recruiting, etc.
Again, all the power to you and it'd be awesome if you can do it, but starting a GA and then migrating to an FMO would probably be quite a bit easier. Recruiting agents as a GA would make the lead generation much more applicable.
- 9,744
Have you read "FMOs For Dummies"? I think it's available at Amazon...
- 1,183
I think F=Field.
Field Marketing Organization.
OK Alex, I'd like a "D"... (in addition to a shot at Vanna)
F _ _ _ "D" Marketing Organization.
- 9,744
She's gettin' a little long-in-the-tooth, no? Dontcha think she's gotten a tad skanky over the years?
