Trading Training & Leads for % - What's Fair?

[cds251]

Find an organization that is willing to train you, not spend your money. Find an organization that will invest IN YOU, rather than making you invest in them.

I spent my first 2 years in the biz without spending a dime on leads.......i know many agents that start out paying lots of money for lots of leads. Are they still in the biz? No. They never got the training that they needed to be continually successful in this biz.

If it was as easy as buying leads, selling insurance, making lots of money, EVERYONE would be doing it......

 

[davisgroup]

Find an organization that is willing to train you, not spend your money. Find an organization that will invest IN YOU, rather than making you invest in them.

I spent my first 2 years in the biz without spending a dime on leads.......i know many agents that start out paying lots of money for lots of leads. Are they still in the biz? No. They never got the training that they needed to be continually successful in this biz.

If it was as easy as buying leads, selling insurance, making lots of money, EVERYONE would be doing it......

That sounds like a great plan, but I have not run across any thing like that. Can you provide any more information about these programs, or is it a secret?

 

[Logos1]

That sounds like a great plan, but I have not run across any thing like that. Can you provide any more information about these programs, or is it a secret?

Agreed, I'd be interested in hearing more as well.

 

[cds251]

Well, I started in th biz captive, and stayed that way for some time.

As a captive agent i didn't have to provide anything other than hard work, blood and sweat. I didn't need to buy leads and my manager would take me in the field to prospect, run appointments and close deals. After about 6 weeks I was ready to fly solo.

You won't find that level of involvement in any independent shop.....sure there will be variations, but nothing as detailed and structured as that. They will all take your money for leads, but few will actually show you how to work them or close them.

There are plenty of career shops out there, mine was combined. Their training program is the best in the industry (of course, I'm biased) but they really do put their money where their mouth is and invest in their new agents. That is based on my experience.

As I did, my suggestion is to trade commission percentage for a well structured training program that will give you the skills necessary to have a long successful career in this industry.

There will ALWAYS be future opportunities for getting higher contracts........longevity in this business is based upon you learning the skills necessary, not the size of your contract.

 

[nfl72]

Lots of good ideas and suggestions here but the one point that seems to be missing is the ability of the agent in question.

If he or she is 21 and never sold anything of substance and has never made a living based on commission they would more often than not be better suited going with somebody who would be willing to train them and of course giving up a piece of the overall pie. At least for a while until they learn the ropes of this business.

On the other hand if a guy has made a living selling cars, real estate, mortgages or exteneded warranties etc; he should require much leass training and may be a good candidate for a higher percentage right out of the gate.

The fact of the matter is this, 8 out of ten agents in this businees aren't going to make it anyway regarless of whom they choose for trainning or contract.

 

[davisgroup]

Could you define "independent" versus "career" shops? And also, how would you suggest a newbie go about determining a "well structured training program". All I have to go on are the snipits on Youtube. Thanks.

Well, I started in th biz captive, and stayed that way for some time.

As a captive agent i didn't have to provide anything other than hard work, blood and sweat. I didn't need to buy leads and my manager would take me in the field to prospect, run appointments and close deals. After about 6 weeks I was ready to fly solo.

You won't find that level of involvement in any independent shop.....sure there will be variations, but nothing as detailed and structured as that. They will all take your money for leads, but few will actually show you how to work them or close them.

There are plenty of career shops out there, mine was combined. Their training program is the best in the industry (of course, I'm biased) but they really do put their money where their mouth is and invest in their new agents. That is based on my experience.

As I did, my suggestion is to trade commission percentage for a well structured training program that will give you the skills necessary to have a long successful career in this industry.

There will ALWAYS be future opportunities for getting higher contracts........longevity in this business is based upon you learning the skills necessary, not the size of your contract.

 

[cds251]

There are lots of threads on here regarding career/captive or independent..........the main distinction is that while one provides one benefit, it's equally a negative on the other side.

Captives are more likely to have access to a local office, a little more structure to their week, some form of marketing/leads (at no or little cost) and a little more "hand holding".....the price? Lower contracts.

Independents are the complete opposite.....no access to an office, free to do what hey want, when they want, no access to free or reduced cost leads, and absolutely no hand holding whatsoever. The cost of this? Higher contracts.

To determine what constitutes a well structured training program? Look for opportunities that you don't have to pay for, or have to sign up to sell their expensive leads........be wary of marketing organizations that claim they have the "best leads".

I'm independent, but would not be in the place I am now had I not earned my stripes as a captive.....

You will probably have to talk to companies in person before you can get an idea as to what will work for you and what won't.....

 

[coloradoseniormarket]

There are lots of threads on here regarding career/captive or independent..........the main distinction is that while one provides one benefit, it's equally a negative on the other side.

Captives are more likely to have access to a local office, a little more structure to their week, some form of marketing/leads (at no or little cost) and a little more "hand holding".....the price? Lower contracts.

Independents are the complete opposite.....no access to an office, free to do what hey want, when they want, no access to free or reduced cost leads, and absolutely no hand holding whatsoever. The cost of this? Higher contracts.

To determine what constitutes a well structured training program? Look for opportunities that you don't have to pay for, or have to sign up to sell their expensive leads........be wary of marketing organizations that claim they have the "best leads".

I'm independent, but would not be in the place I am now had I not earned my stripes as a captive.....

You will probably have to talk to companies in person before you can get an idea as to what will work for you and what won't.....

Generate a list of questions you want answered, write down their responses, then research if the answers hold to to closer unbiased scrutiny.Talk to the companies and marketing organizations, if they sound too good to be true they are blowing smoke. If they focus only how much you can make with them or focus on recruiting agents- run don't walk in the opposite direction. If you decide to contract, READ and understand the contract before you sign.

 

[jdeasy]

Could you define "independent" versus "career" shops? And also, how would you suggest a newbie go about determining a "well structured training program". All I have to go on are the snipits on Youtube. Thanks.

Just the fact that you ask that question says that you need training and support more than anything else.

There is nothing wrong with going captive to learn the ropes. Forget about the commission level. People pay to go to college everyday to get a better job.

If I had to start over today I would pay somebody like Newby or Hoosierdaddy to just let me hang around whuilke they made and ran appointments and also to watch them to the backend work of sending in applications and following up with clients.

They are not going to do something like that so the next best thing is get with a company that does the kind of work you want to do and learn from them. So what if it doesn't pay much? It beats paying tuition.

 

[InsuranceMGA]

All I am going to say on this is $5,000 is a huge leap. You can get away with starting a good mailing campaign for about $2,000. I have seen agents do it for $400 and keep turning the money over until they were getting the amount of leads they need and wanted.

But to say you need $5,000, well I say call Michael J Fox because somebody just to a huge leap into the future!!!