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- #11
I understand what you're telling me. I can't deny the possibility of this being a blip on the radar.
The highly requested update on my experience with FE thus far...
- Thread starter MaxReaver
- Start date
I understand what you're telling me. I can't deny the possibility of this being a blip on the radar.
- 6,134
Ok, I watched the video and I picked up on a few things that could be the problem. I am in no way bashing you, just honest feedback.
I am not sure you are hungry enough! What typically happens when an agent has a full time job is that they spend their evenings "working" on their FE business. And by working that means running reports, running numbers, calculating ROI, lead closing percentage, etc. A full time agent is hungry for sales and doesn't have the time typically to sit down and just crunch numbers. It is more of a hobby right now for you so the results are hard to see. I have an agent with a 40-50 hour per week full time job and has been with me over 2 years. He still writes 4-6k each and every month. He is currently over $5,000 for this month already in issued business, but he is HUNGRY! His free time is spent learning, not calculating.
I also remember when you started and if memory serves me correctly, it was over 6 months ago. 60 leads over a 6 month period will not make you profitable. Agents that are successful in this business are continuing to send applications to the carriers. Fall offs and chargebacks are not as much of a factor when you are constantly sending up good business.
The closing percentage is way off unless I misunderstood. You wrote 3-4 policies and your buddy wrote 3 policies? On 60 leads, you should close 15-18 or so. Then the numbers would be shifted a lot more in your favor.
You mentioned when you signed up, you purchased 60 leads in bulk for $2,000? The age of these leads could be another factor here. If you can sign up and just buy leads instantly, they were already created and you really don't have a way to know WHEN they were created.
As far as the FE market ending...that is no where near the problem. I can write a lot of business on 20 direct mail leads, but if you give me 20 and then wait 6 months and evaluate my business, it will probably not look as good.
This is a numbers game! You have to put in enough numbers for it to work. I can buy 20 leads and you check it after 3 months and it might come out to me breaking even, but if you let me get 20 leads 10 different times and you track each set separately, you will see that I am doing way more than breaking even.
You either need to get some additional training and buy some more FRESH leads that only YOU work (no more splitting with the other agent), or you should look into the pest control stuff.
I hope this helps some as it is just what I picked up from the video.
I am not sure you are hungry enough! What typically happens when an agent has a full time job is that they spend their evenings "working" on their FE business. And by working that means running reports, running numbers, calculating ROI, lead closing percentage, etc. A full time agent is hungry for sales and doesn't have the time typically to sit down and just crunch numbers. It is more of a hobby right now for you so the results are hard to see. I have an agent with a 40-50 hour per week full time job and has been with me over 2 years. He still writes 4-6k each and every month. He is currently over $5,000 for this month already in issued business, but he is HUNGRY! His free time is spent learning, not calculating.
I also remember when you started and if memory serves me correctly, it was over 6 months ago. 60 leads over a 6 month period will not make you profitable. Agents that are successful in this business are continuing to send applications to the carriers. Fall offs and chargebacks are not as much of a factor when you are constantly sending up good business.
The closing percentage is way off unless I misunderstood. You wrote 3-4 policies and your buddy wrote 3 policies? On 60 leads, you should close 15-18 or so. Then the numbers would be shifted a lot more in your favor.
You mentioned when you signed up, you purchased 60 leads in bulk for $2,000? The age of these leads could be another factor here. If you can sign up and just buy leads instantly, they were already created and you really don't have a way to know WHEN they were created.
As far as the FE market ending...that is no where near the problem. I can write a lot of business on 20 direct mail leads, but if you give me 20 and then wait 6 months and evaluate my business, it will probably not look as good.
This is a numbers game! You have to put in enough numbers for it to work. I can buy 20 leads and you check it after 3 months and it might come out to me breaking even, but if you let me get 20 leads 10 different times and you track each set separately, you will see that I am doing way more than breaking even.
You either need to get some additional training and buy some more FRESH leads that only YOU work (no more splitting with the other agent), or you should look into the pest control stuff.
I hope this helps some as it is just what I picked up from the video.
Here in Philly I prefer black neighborhoods. But for what it's worth and without getting into details, not all black neighborhoods are created equal. Me thinks the people you're targeting are too poor.
No doubt! I'll run leads all day long in Mount Airy and Cedarbrook.
Gimme some of that 19150 love
Two weeks is hardly a statistical sampling. Correct me if I am wrong, but you did say you have been doing this for 2 weeks, right?
Regardless, here is another question.
Where did you get these leads? Were they "free". Shared? (Sold more than once)?. Were any of them qualified or was it just "these people said "yes" to a phone call"?
If it was just you there are far too many variables. But if a person with 10 yrs experience is having similar issues I have to question the lead
Regardless, here is another question.
Where did you get these leads? Were they "free". Shared? (Sold more than once)?. Were any of them qualified or was it just "these people said "yes" to a phone call"?
If it was just you there are far too many variables. But if a person with 10 yrs experience is having similar issues I have to question the lead
Indeed. Bunch of sweethearts up there.No doubt! I'll run leads all day long in Mount Airy and Cedarbrook.
Gimme some of that 19150 love
- 4,130
Here in Philly I prefer black neighborhoods. But for what it's worth and without getting into details, not all black neighborhoods are created equal. Me thinks the people you're targeting are too poor.
Ever have any luck in Kensington or 19139?
- 2,103
buying leads is your problem
Did very well in Kensington (19134) back in the day when it was a solid blue collar area. In fact, my debit days were spent there. Today the area is a complete sh** hole. Drugs and fifty cent hos line Kensington Ave
19139 is West Philly. Not a bad area, but it's nip and tuck. I have several policies on the books here but it's all been referral business. A black agent would do much better than a white guy here IMO. In fact, I have a warm lead in 19139 if anyone wants it... Shoot me a PM or call the office tomorrow.
- 4,130
I had several HUGE weeks between 19143/19139 over the summer. Probably a fluke to have a week with a average case size of $100/M.
Never did much in 19143 (Southwest Philly) except for training new agents and providing ride along help. I know a few agents who love this area.
