What Would A Fair Offer Be For a Personal Lead Vendor/Appt Setter?

[Abrasax]

Hypothetically, let's say you were good at sales but terrible at marketing, and your FB ads can't even give away Walmart cards. Now lets say your family member turned out to be pretty good at generating Facebook leads for cheap for you and they were pretty good on the phone too.

Since this is family, what do you think would be a fair way to split the commission on the back end if your vendor sets all your appointments for you and you just run them? I want to make sure we're both taken care of. Thanks!

 

[myinsurebiz]

Hypothetically, let's say you were good at sales but terrible at marketing, and your FB ads can't even give away Walmart cards. Now lets say your family member turned out to be pretty good at generating Facebook leads for cheap for you and they were pretty good on the phone too.

Since this is family, what do you think would be a fair way to split the commission on the back end if your vendor sets all your appointments for you and you just run them? I want to make sure we're both taken care of. Thanks!

You can't split commissions with anyone that isn't licensed in that State.

 

[DHK]

Correct - you cannot split commissions with someone who isn't licensed.

So pay them a wage and/or bonus for appointments set.

 

[Abrasax]

Correct - you cannot split commissions with someone who isn't licensed.

So pay them a wage and/or bonus for appointments set.

Isn't a bonus going to be the same as commission?

So let's say they're licensed but just generated leads and set appts. What would be fair?

 

[DHK]

A commission is split on the application and paid by the insurance company.

A bonus or other incentive program is paid out of your pocket.

 

[Abrasax]

A commission is split on the application and paid by the insurance company.

A bonus or other incentive program is paid out of your pocket.

Ok I may not have been clear enough. I'm talking about paying them myself.

 

[VolAgent]

An unlicensed person cannot receive commission for the sale of a licensed product, regardless of who pays it. This means, their compensation can not be tied to the sale of a product. You could pay a bonus per lead, but not per sale.

 

[Abrasax]

An unlicensed person cannot receive commission for the sale of a licensed product, regardless of who pays it. This means, their compensation can not be tied to the sale of a product. You could pay a bonus per lead, but not per sale.

We can assume both parties are licensed.

 

[myinsurebiz]

An unlicensed person cannot receive commission for the sale of a licensed product, regardless of who pays it. This means, their compensation can not be tied to the sale of a product. You could pay a bonus per lead, but not per sale.

Exactly . . . the bonus can't be tied to a "closed" sale either.

 

[Newby]

We can assume both parties are licensed.

If both parties are licensed you can pay them any way you want to. If they are going to keep you busy with appointments all week and the appointments are buyers, I would give them 25%. That's higher than an appointment setter makes but this person is supplying your leads AND setting appointments AND is licensed him self. So he could cut you out of it and sell them without you if the pay is too low.

If they are not licensed you can pay them a fee for appointments but you can NOT base it on making a sale. You have to pay them for getting you into houses only. Not for selling a policy.