To stay independent or do I...

[Insurance-Guy]

Most who try fail due to poor planning.

That and no work ethic! There have been a few people that I have seen come and go in this business that start out talking about making their own hours. The 3 - 5 yr time line is just about right until you have a good base built up, and referrals coming in regularly. You have to put 150% into this business to be successful starting out. Then if you want you can start enjoying the flexibility that many people talk about. Problem I see is so many Agency owners are always on vacation... if they are never in the office they better make sure they have a great office staff or their book that they built will slowly fall apart. I know a Nationwide agent who's is falling apart, know a 2 allstate agents books falling apart...they think the sky is falling. We had a great year...difference is the agency owners are not there most of the time they are to busy doing other things.

 

[669comche]

Go captive for 3-6 months.

Learn the business, make the necessary mistakes then make the jump to being Independent.

Being Independent is much much more than just being able to sell whichever carrier you want to.

Look at the 3-6 month time frame as an internship: You are not going to be there forever and you can earn money at the same time.

 

[Frank Stastny]

Go captive for 3-6 months.

Learn the business, make the necessary mistakes then make the jump to being Independent.

Being Independent is much much more than just being able to sell whichever carrier you want to.

Look at the 3-6 month time frame as an internship: You are not going to be there forever and you can earn money at the same time.

There is some logic in your statement, however, since no company will vest an agent in that short a period of time the agent is going to walk away from any future income from the policies he sold during that time.

I guess if an agent can afford to work his butt off for six months and then leave with zero income it may be a good deal.

 

[Indiana_Adam]

In that 3-6 month time free, he should save every penny and build up an emergency fund. Then no worries. Though I don't think 3-6 months of saving will equal any kind of income, unless you are debt free.

 

[669comche]

There is some logic in your statement, however, since no company will vest an agent in that short a period of time the agent is going to walk away from any future income from the policies he sold during that time.

I guess if an agent can afford to work his butt off for six months and then leave with zero income it may be a good deal.

Yeah, but what income is his likely to derive from such a short period of time?

Not much. And its probably worth paying that price if he is in this for the long haul.

 

[Josh]

I'm going to rephrase what Frank said and add a little emphasis.

You're a jerk if you sign up with a carrier just to milk the salary, burn up their leads, waste their time, and have no intention of saying, or worse yet, are planning on leaving to go work as an indy after you've taken them for their generous offer.

 

[669comche]

How is that different than graduating law school, going to work for a law firm for one year, milking the salary and then going to open your own office???

Get off your high horse!

And I'm not aware of too many captive environments where they pay you a salary either (and the ones that do its normally just a draw against future commissions)

I bet if we took a poll on this forum 75% + started out captive before going indy.

 

[Josh]

Oh boo. What is it with people from Texas?

That lawyer is getting worked to the bone and actually providing a service. Also, that's not even close to comparable. I think you underestimate what's expected of attorneys. Attorney's need to get in as many "billable hours" as possible and in the process they're making the firm money. It's doubtful they'd go private practice after a year, but even if they did, at least the firm was guaranteed to make money If someone milks an agencies time, leads, salary if applicable, resources, etc, only to coast through and leave once they have it all "figured out" they're an as shole. Thankfully karma will usually get them anyway, but to go into a captive agency only to learn and ditch in less than two years you're being a brat.

 

[669comche]

Well, I beg to differ on your reasoning.

I was a agency manager for a captive outfit for 4 years.

Let me tell you: The company does not want agents to stay.

Let me repeat that: The company does not want agents to stay.

In their eyes they would much rather hire individuals, have them sell a few policies and leave. This way they keep all of the renewals and have to pay the finding agent NOTHING. Its cheaper to recruit new agents, than it is to retain and pay an existing agent renewals.

As for leads, that argument is a joke. We would reprint the leads OVER AND OVER AGAIN and hand them out to agents as "new leads"...........

As for training, that argument too is a joke. How many captive agencies actually train their agents...er....none.

Here is a list of people to call and set appointments. Here is a script. Let me know how you do......if you don't make it, so what? I have 10 lined up ready to replace you.

You obviously know of captive outfits that pay salaries, provide free - lay down sales leads, full medical, dental, vision, free cars, free women, make your mortgage payment contracts.

Holy spit!!! I just saw a pig fly across my window!

 

[Josh]

Let me be concise: You're an *** that has no concept of the industry outside your little world.

I don't know what kind of sh ithole agency you worked for, but there are several that I know of (big ones) that really and truly do want their agents to stick around.

Plenty of stellar training.

You're a fool.