When to walk away...

[shonceman]

American national home service agents are unionized.. That might have soemthing to do with the better contract and agent retention.. It is the only insurance company I have heard of that had an agent union shop.

Prudential used to be unionized. They might still be, but I haven't run into a captive Pru agent in many years.

 

[rousemark]

Prudential used to be unionized. They might still be, but I haven't run into a captive Pru agent in many years.

Do such agents even exist?

 

[goillini52]

Hmm... are you and the Monkey working together?????

I only do edibles now.

 

[shonceman]

Do such agents even exist?

I honestly don't know. I've been away from the captive ordinary world for so long, I really don't have the foggiest what goes on over there anymore!

 

[TripleH]

Hey, I'd appreciate that! I'm in Texas. I run a debit that's mostly in Dallas, but I have clients in other locations that pay by phone or mail. I'm actually licensed in Texas, Louisiana, Oklahoma, Missouri, Kansas, and Virginia. (I started in the business in Virginia, and still have clients there.) I'm mostly writing bank drafted FE business in other states, but I also have a few debit clients in some of those states.

If you for real want ever Reliable client I run into that is NOT changing to EFT in Dallas that I run into please text me at 704-724-3648 - I know nothing about you or your business, but I will certainly toss you those leads!

 

[TripleH]

Persistency is not as good as bank drafted. The company standard for LBL HS is 60%. I usually run in the 70-80% range. By collecting without leaving my house he means I can take a debit card over the phone. So, some of these people could be set up on automatic draft, but would probably have multiple NSF's. They just do better if I call them for the payment.

Top GA comp on new business is 75%. Most agents get 65-70%, depending on prior experience. For LBL it's all as earned. Security National's comp structure is different and usually lower overall, but I believe they will set full time (semi-captive) agents up on an advance system. Kemper agents contract is completely different. Those guys aren't fighting to keep renewals. Unless something's changed in the 2020 contract, they're fighting because if they lose a policy, no matter who wrote it or how long ago, they get charged back 100% of the FYC.


Reliable is an extremely stressful contract to work under, and hard to make decent money. No surprise they have turnover. Yet I know agents over there that have been there multiple decades. The best usually go into management, which is where the real money is. I think American National has a better contract as far as captive operations go. Their retention is better, and seems similar to most independent FE shops. Indy home service gets a fair amount of turnover, as well. Like I said, it's a tough gig in the early years. Just like any business, it takes a combination of qualities to do well, not the least of which is the ability to persevere.

Too funny you say that about Reliable agents, I walked into a home where his mother had the same insurance man as he does today - she got her first policy on him when he was 17 and he is 51 now. Same insurance man still comes by till this day and collects the cash. That's crazy to me! But I guess he must be doing well. Thank you for all the info about American National and Reliable. I keep trying to call the business cards of the reliable agents I run into, but most of them are out of business LOL

 

[shonceman]

If you for real want ever Reliable client I run into that is NOT changing to EFT in Dallas that I run into please text me at 704-724-3648 - I know nothing about you or your business, but I will certainly toss you those leads!

I'll do that! I'll shoot you a text tomorrow. I try not to do any business on Sunday (except for my social media addiction that keeps me on these forums! LOL!).

 

[DayTimer]

Being able to recognize the right vs. the wrong people is a big reason why top agents can write 10k+ per week

How many $500K producers y'all got at EFES?

 

[Markthebroker]

Time is our most valuable resource while in the field. Many agents get caught up in spending too much time in the wrong houses. Quality clients are in abundance! It is our job to find them while minimizing time spent with tire kickers. Below I have listed some of the most common time waster situations in which any FE agent should be walking away from asap to find a better client.

1. No bank account. They get hard paper checks whether it be through work or social security.
2. Only payment method available is prepaid debit card (metabank, netspend, green dot, etc)
3. Refuses to answer why they sent the card in/beating around the bush as to why they sent it in. Do not proceed with a presentation if they cannot tell you why they sent the card in!
4. Decision maker not present aka single-legged appointment
5. Insists on paying via direct bill...no eft
6. Unemployed/No income but has a checking account

There are always exceptions to the rule, but these are the most common in my experience.

The longer I do this, and the more business I have coming in organically, the more important it is for my to qualify, and when needed, turn people away as diplomatically as possible.

 

[DayTimer]

The longer I do this, and the more business I have coming in organically, the more important it is for my to qualify, and when needed, turn people away as diplomatically as possible.

I wish all my problems would be this problem.