What is the Average Persistency Rate for FE by Phone?

[theinsuranceman]

Why would Scott take a pay cut? Plus the aggravation of deal with a female agent from Florida? From my previous dealings with female agents from FL you better hope she never calls... and ask Scott not to do you anymore favors.

After skimming over some of the previous post let me vouch for JDeasy. The guy works appointments two days a week. (Tue & Thur) And with only the companies he has under me (all that I can personally verify) he writes between 16 to 20K every month. (That's not a bad income for 8 or 9 days a month?) The neat thing about JDeasy is that he is in complete control over his income. If he wanted to run appointments 3 days a week that monthly income number would be 19 to 23K or higher.

He works the business, the business does not work him. Also he has the highest closing % of any agent from Equita. (Side Note) Equita does over a million a month in FE.

Producers like JD are few and far between that visit this board.

Hoosier...you have me confused. The number #1 agent in the country for FE writes $300,000 per year as per you and Jd, and your boy Jd writes 16k-20k per month working 2 days a week. So if Jd would stop being lazy and worked 4 days per week instead of 2, Jd would now be writing 32k-40k per month. And if Jd was writing 32k-40k per month (all while working 4 days per week)..well then Jd would be writing 384,000 - 480,000 per year and Jd would be the top FE agent in the country by a healthy margin cause NOW the number 2 agent in the country would be 300,000 and Jd would be somewhere between 384,000-480,000!

When you sling FALSE numbers like this you lose instant credibility. And Jd said I was BSing everyone with my figures in the earlier posts on this thread...LOL! All of my numbers in the earlier posts on this thread make perfect mathematical sense. Your
NUMBERS appear to be GROSSLY EXAGGERATED! Were you just pumping up Jd's ego and trying to restore some credibility to Jd? Do you spit out such INACCURATE info to your agents on your sales team?

Come on man...this forum is so much BETTER for EVERYONE when people quote ACCURATE INFO!

If my calculations are wrong PLEASE show me where I am wrong.

 

[briko3]

Actually, they're both wrong. I do over $300,000 in my underwear working 1 day per week. Actually, I do everything between 5-8p.m. on Monday and take the rest of the week off to spend my $7,000 I earned. (I only work 50 weeks a year...if you can call it a week of work) And yes, Insuranceman, that means I make $350,000 a year. I know, I know...if only I worked a few more hours that one day a week I could easily double or maybe even triple my earnings, but it's just not worth the extra work for me.

Oh, BTW, did I mention I do all my stuff over the phone and that I don't spend any money on leads...it's all word of mouth. So technically, I am the biggest FE producer, I just lay low so people don't call asking how I do it.

 

[HoosierDaddy]

First of all I said the top guy has wrote over 300,000 as of TODAY!!! Septerber 25, 2009. Who knows what he will have done when December 31, rolls around.

 

[Tom Highway]

Everybody put on your waders - the bs is getting thick in here!

 

[theinsuranceman]

First of all I said the top guy has wrote over 300,000 as of TODAY!!! Septerber 25, 2009. Who know what he will have done when December 31, rolls around.

OK..I stand corrected: Sept. 25 vs Dec.31.

So, now if Jd works 4 days per week (and not 2)....he would have written, as of Sept. 25 and using your earlier figures, $288,000 - $360,000 as of Sept.25. Wouldn't these figures make Jd the #1 agent? (The ave. of 288k and 360k = 324k). Or maybe a very, very close 2nd? All this working only 4 days a week! (What kind of car are you buying Jd this Christmas?) Just kidding...about the car that is.

Are you going to share with us how this great producer writes this production with $400 weekly lead costs? I'm not saying the $400 is INACCURATE, but "enquiring minds want to know".

Thanks in advance.

 

[jdeasy]

My hat is off to JD. Good job! I've NEVER discounted his claims, but he sure likes to discount my claims. By the way, when are you going to share with us how the "freak" you mentioned a few posts above writes 6K per week with a lead cost of only $400? Is his upline giving him free leads of some sort because they know he is already a good producer and is a good example for new agents to aspire to? Or maybe he's getting extra leads from other sources you don't know about?

PS: If Jd writes 4k-5k per week in only 2 days of appointments he must burn through a lot of leads on the phone on Mon. and Wed. setting appointments for Tues. and Thurs. and only see people who have agreed on the phone to his premium quoted and will write the check when he comes by. Nothing wrong with that. Just curious, what is Jd's lead costs?

Maybe Jd could SHARE his words of wisdow with everyone on this forum....how to write 4k-5k per week with just 2 days of appointments.

Scott would not be taking a pay cut. He would be getting a pay increase.

I've shared what I do many times. On this board and in private with some people. Until about 6 weeks ago, I got 15 leads per week. For the last 4 to 6 weeks I've been getting 20 leads per week. I was apying $9 per lead. There were some price increases and some accounting changes and I now pay $11 per lead.

You can call being in the field two days a week as "lazy". I would assume that you consider days being on the phone as not working? I et my appointments for Tues. on Mon. I set my Thurs. appointments on Wed. My goal is to set 6 appointments on each of those days. I schedule my appointments 1 and 1/2 hours apart with the first one at 9:30am. The reason I don't start my first appointment until 9:30 is because I have an hour's drive to my first appointment. The rest for that day are within 15 miles of each other. I can usually set my 6 appointments for each of those days. It got to where I couldn't do that with 15 leads per week. That's why I moved my leads up to 20 per week.

I do not discuss anything on the phone except to schedule the appointment. I don't discuss pricing or plans on the phone.

This is the same system I used when I was with NAA. Except I only got 10 leads per week with them. My best year with NAA was 2005. I wrote $260,000 ap that year on 10 leads per week. I also only ran appointments on Tues. and Thurs. then. You must have days that are dedicated to to the phone and days you work appointments. Or, at least, I do. I'm sure I could work at appointments 5 days a week and just go to see someone as soon as I make the appointment. I'm also sure that I would not see 10 to 15 people in a week doing it that way.

Now, I will do other things on my non appintment days once I've set my appointments. I wrote a med sup on Wed. this week. I'm doing a med sup this afternoon.

I am going to run an FE appointment on Mon. evening because the people called me from a referral. They told me what they wanted and it's 5 applications for a total of a little over $150 month. They are out of the area where I normally work and Mon. evening is the only time to get all 5 people together. I will go off my regular schedule for situations like that.

Alot of my business come from referrals. I have never once asked a client for a referral. I strive to give good customer service and the referrals just seem to come from that. I do send a $20 gift certificate to a person that give me a referral. That itself leads to more referrals from that person.

To call what I do "lazy" just shows a complete lack of knowledge and understanding about how to do FE sales. Just yesterday I left my home at 8:15 am. I got in at 8:30 pm. I drove 245 miles over the course of the day, then worked till 11:00 pm faxing in apps and sending out thank you cards to everyone I met with. If that's lazy in your book, then it will just have to be so.

 

[magagent]

Hard to argue with that, I have worked with lazy guys before and what JD just told us does not seem to be lazy in my book..

 

[hockeyday]

if i could do half that i would be happy, so would my wife

 

[Tom Highway]

if i could do half that i would be happy, so would my wife

I'm in the same boat myself brother.

 

[theinsuranceman]

I've shared what I do many times. On this board and in private with some people. Until about 6 weeks ago, I got 15 leads per week. For the last 4 to 6 weeks I've been getting 20 leads per week. I was apying $9 per lead. There were some price increases and some accounting changes and I now pay $11 per lead.

You can call being in the field two days a week as "lazy". I would assume that you consider days being on the phone as not working? I et my appointments for Tues. on Mon. I set my Thurs. appointments on Wed. My goal is to set 6 appointments on each of those days. I schedule my appointments 1 and 1/2 hours apart with the first one at 9:30am. The reason I don't start my first appointment until 9:30 is because I have an hour's drive to my first appointment. The rest for that day are within 15 miles of each other. I can usually set my 6 appointments for each of those days. It got to where I couldn't do that with 15 leads per week. That's why I moved my leads up to 20 per week.

I do not discuss anything on the phone except to schedule the appointment. I don't discuss pricing or plans on the phone.

This is the same system I used when I was with NAA. Except I only got 10 leads per week with them. My best year with NAA was 2005. I wrote $260,000 ap that year on 10 leads per week. I also only ran appointments on Tues. and Thurs. then. You must have days that are dedicated to to the phone and days you work appointments. Or, at least, I do. I'm sure I could work at appointments 5 days a week and just go to see someone as soon as I make the appointment. I'm also sure that I would not see 10 to 15 people in a week doing it that way.

Now, I will do other things on my non appintment days once I've set my appointments. I wrote a med sup on Wed. this week. I'm doing a med sup this afternoon.

I am going to run an FE appointment on Mon. evening because the people called me from a referral. They told me what they wanted and it's 5 applications for a total of a little over $150 month. They are out of the area where I normally work and Mon. evening is the only time to get all 5 people together. I will go off my regular schedule for situations like that.

Alot of my business come from referrals. I have never once asked a client for a referral. I strive to give good customer service and the referrals just seem to come from that. I do send a $20 gift certificate to a person that give me a referral. That itself leads to more referrals from that person.

To call what I do "lazy" just shows a complete lack of knowledge and understanding about how to do FE sales. Just yesterday I left my home at 8:15 am. I got in at 8:30 pm. I drove 245 miles over the course of the day, then worked till 11:00 pm faxing in apps and sending out thank you cards to everyone I met with. If that's lazy in your book, then it will just have to be so.

Jd...CONGRATULATIONS!!!! A GREAT POST! WELL DONE!!!
When I said "lazy" working 2 days a week I wasn't aware there were 2 other days setting appointments on the phone.

If a lead will not schedule an appointment (they don't want anyone to come by, don't remember mailing the card in, thought it was soc. sec. benefits, etc.) do you save that lead and call that lead at a later date? If so, how much time do you wait to try to reschedule again? Or do you just throw this lead away?

What do you say when on the phone setting appointments?

What would be the ave. % of "no shows" when you get to the house? Of the "no shows" about what % will buy when you recontact them? Or will even reschedule an appointment with you again?

If you have a "no show" what do you do for the next hour or so?

Do you wear a tie or dress business casual? Or some other attire?

What % of your sales are bank draft vs direct bill?

How do you handle the usual objections: "can't afford it", "we don't need any", "we are just shopping around right now", "let me talk to my children", "call me back next month", etc., etc.

How do you service your clients besides mailing them a card the week they buy?

Needless to say you can run with the "BIG DOGS".

Thanks in advance for your words of wisdom.