Updated Info About State Farm?

[arnellwest]

I'm trying to find any info on what it is like working for State Farm. All I find is threads from 2008-09 or prior. I know things have changed since then. I have received an offer to begin their training process. I'm not sure if it is going to be a good fit. FYI, this will be my first Agent position after training.

Any information will be helpful. Pay structure, %, split, what to expect after training. Will I be a scratch agent, or receive a book? I have not talked about these things with a recruiter yet. I want an unbiased opinion. Thanks folks.

 

[xrac]

Unless you are talking about a position selling under another agent I would pass. A position selling for another agent is a possibility as a means to learn the business.

 

[Josh]

There are a lot of variables. Both State Farm and Allstate have started to be less attractive of an option. The best thing to do is talk to the recruiter in terms of everything but realistic sales production. They'll be able to answer most of your questions that we have no idea about (we don't know if they are giving you a book or want you scratch, etc).

What's your motivation for wanting to get into the industry?

 

[cdavis]

State Farm is a great company to learn from. Did you pass your agent personality test yet? That would be the first hurdle. Next you will have agency training. From what I hear from a lot of new agents is that it's a big waste of time =) Then you will get to sit under an agent and learn their office procedures etc... My advice is when you are in agency training SAVE your money. I know so many agents who are $100K in debt! You will have a choice if you want a scratch agency or if you want to take over a book. There are perks to both. The goals...some may say they are unrealistic. I think it depends on your geographical location. You want to do some extensive research in the area before you decide to move there. Ask agents around there if they are competitive in price and if they are even writing homeowners insurance in that area. Mutual funds and home insurance is a big part of your premium so make sure it's a good location for that. Also, if you are not good at selling life insurance then you need to get good at it ASAP! Your trips and goals depend highly on this. Another thing that is vital is your team that you pick. You will need to have highly motivated sales people. Perhaps someone straight out of college who is really determined. Most sales team members don't last more than a year. A motivated person will either try to become an agent or go for a more prosperous career. With that being said it's a good idea to have someone on the back burner. I hope this information helps =)

 

[carroll]

I just watched a young person open a state farm agency...here is what you do (i've watched others do the same) take a second mortgage on your home.....get 2 credit cards to live off of for the next 2 years.....max out the cards....close down the agency....hope your spouse doesn't leave you and try your best to recover. Good luck.

 

[xrac]

I just watched a young person open a state farm agency...here is what you do (i've watched others do the same) take a second mortgage on your home.....get 2 credit cards to live off of for the next 2 years.....max out the cards....close down the agency....hope your spouse doesn't leave you and try your best to recover. Good luck.

That has been the story for two many agents but hey SF guests to kephe customers.

 

[carroll]

Unless you are talking about a position selling under another agent I would pass. A position selling for another agent is a possibility as a means to learn the business.

Good advice...sell under an agent long enough to learn the ropes then get the hell out of there and start your own independent agency!!!!!
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That has been the story for two many agents but hey SF guests to kephe customers.

I saw this one unfolding before the "Grand Opening".....the stories he was telling were the same BS stories I've heard other new agents tell.....kind of sad because this kid now has a butt load of debt and now has to seek out other sources of income. The smart thing he did was jump ship at the end of his first year instead of the 5th year.

 

[xrac]

Good advice...sell under an agent long enough to learn the ropes then get the hell out of there and start your own independent agency!!!!!
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I saw this one unfolding before the "Grand Opening".....the stories he was telling were the same BS stories I've heard other new agents tell.....kind of sad because this kid now has a butt load of debt and now has to seek out other sources of income. The smart thing he did was jump ship at the end of his first year instead of the 5th year.

These agents are looking at SF's reputation and the kind of money agents made under the old contract. I do not think more than 25% can be successful under the current contract.

 

[carroll]

These agents are looking at SF's reputation and the kind of money agents made under the old contract. I do not think more than 25% can be successful under the current contract.

I know a young girl fresh out of college getting ready to start up with SF.....I'm going to stay on my own porch and keep quiet.........hopefully she will make it.

 

[Bob Klee]

Something tells me that SFarm is still a good deal....
I personally know two SFarm agents in two different states, just now finishing their 3rd year with the company. Both are knocking the ball out of the park leading with Auto Insurance. Both have at least 4 staff folks. Both are buying close to 1000 leads/month. [I know more than 2 successful less than 3 year SF agents Their common traits: Process/staff driven sales organizations!]

Both guys use an excellent CRM tool other than the one SF recommends to track their leads & are very, very process driven. Data is everything to these two guys. You can't BS them as they absolutely know their numbers. They constantly train their staff.... Daily they work on how they can get better overcoming objections they get with leads so they can sell. They learn from each others failures/successes. One of them has yet to sell a Life policy on our life leads yet he continues to buy them. I had to ask why...he tells me: Life buyers typically own a home & nice cars, also have kids. Great prospects for X-sales so keep the Life leads coming. Folks, he buys 1 life lead/day at $22 & it doesn't matter to him he hasn't closed a life sale yet.....This guy knows how to sell.

But maybe these two guys are special & what they do cannot be duplicated by others? If that is the case, State Farm is in trouble if their agents can't make money. My opinion: there will continue to be successful State Farm agents, no matter the contract. Same with Allstate.... but hey, I haven't written a policy since 2006, what do I know?