State Farm Opportunity

[brandonf]

I have a very simple question.
I have the opportunity to start working for a local agent on a commission only position. I have no training or job experience in this field of insurance.
Before I can start selling products I have to get licensed and trained. What are the processes for getting licensed and trained to sell causality and property and life and health for state farm?
Thanks in advance

 

[xcslx]

Re: State Farm Oppertunity

Fulfill your pre-licensing quota (classes or home-study)
Take your State exams

Is the agent going to pay for your classes and exam fee's? What state are you in, because I think every state may have different requirements.

 

[brandonf]

Re: State Farm Oppertunity

Im unsure what you mean by pre-license quota. What exactly is that?
We had discussed reimbursement at once I make a certain number of sells.
Im located in Texas.

 

[VolAgent]

Where is the opportunity in this? Seems you are taking all the risk here. What percentage of commission are you going to get? Based on what I've read here, State Farm doesn't exactly have high commissions on their products to begin with.

 

[brandonf]

Re: State Farm Oppertunity

If I get this position I will be working for a new agent, his doors are set to open in the later part of this year (Nov). The commissions will be almost 100%, and the agent is doing this in hopes of getting client numbers up. The agent does not want to be left high and dry once ive got all my license and training that the agent has paid for. I understand his position. So what is pre-licensing quota?

 

[VolAgent]

Not sure which state you are in, but he was probably referring to your pre-licensing education. That could be online coursework or classroom time, or both. It all depends on your state.

Unless he is also going to give you almost 100% of the renewals, I still say it isn't much of an opportunity. This is a win for him almost anyway you look at it, but unless you have a signed letter from State Farm corporate saying you can take over the office when he fails, I really don't see how it benefits you.

You'd be better off trying to start up with a larger independent agency. They will have more carriers, better able to train you, and perhaps even a salary to get you on your feet. The only down side is you'd get less of the commission. However, since you are going to start with a bigger pie, you might end up with just as much anyway.

 

[brandonf]

Re: State Farm Oppertunity

After looking at and reviewing some data from previous years and discussing with the agent, I dont see what I have to loose. Im a college student with alot of connections in the small/medium size town that we live in I really feel like this could be a great way to get into the insurance industry and make alot of money at the same time. Eventually this could lead me to a salary job with state farm.

 

[VolAgent]

Re: State Farm Oppertunity

If you are successful in sales, why would you want to go to a salary?

 

[xcslx]

Re: State Farm Oppertunity

Yes, I was referring to the classes. IE: Here in California we need 40hrs of P&C, 40hrs of Life and 12hrs of Code and Ethics before taking the exams. (Someone correct me if Im off on the #s! Been a while *shrug* lol)