Why some brokers suck!

[James]

I have a business I have been cold calling on and talking with the Human Resources director with for weeks now. He finally stated yesterday that the owner of the business will only buy if it is through the brokerage he deals with. I called the brokerage to see if I can work with them, the guy says he has an agent that works with us already that his life/health agent deals with, thanks for the information I will pass it to him. Effectively giving all my work and negotiation with a 150+ person group to another agent as a referral.

I have done all the work, visited the business, dropped off the material and everything else and his agent, who he couldn't remember the name for since he doesn't work on the life/health side will get the account, the commissions and everything else.

The deal is that his brokerage is under contract with my company and he could easily worked with me for the same commission splits, but wouldn't.

What would you do?

Personally, if I wanted to stay with the company I would just let it go and chalk it up to a learning experience. I would imagine that the agent that has the business will ask why you was trying to push him out of his business? I imagine other agents within your company would look at you like a poria, and wonder when you will try to steal their business.

Now don't get me wrong, I don't think you intentionally went out to mess with accounts of others. Yet, when you found out you should step out, of course assuming the same be done for you later down the line. The company has no choice but give the original writing agent the business if he or she is still with them. IMHO, YMMV

 

[Martian]

Personally, if I wanted to stay with the company I would just let it go and chalk it up to a learning experience. I would imagine that the agent that has the business will ask why you was trying to push him out of his business? I imagine other agents within your company would look at you like a poria, and wonder when you will try to steal their business.

Now don't get me wrong, I don't think you intentionally went out to mess with accounts of others. Yet, when you found out you should step out, of course assuming the same be done for you later down the line. The company has no choice but give the original writing agent the business if he or she is still with them. IMHO, YMMV

If this were 5 people, even 10 perhaps I could let it go, but this is a company of over 150 people, in which on average 60% will buy once we are in place. This is potentially 10,000+ on commission I would walk away from by just letting it go.

I have to go to the agent that gets the lead and explain the situation and at least try to salvage something out of this situation. We are in the process of finding which agent usually does business with this broker before they get a meeting with the business.

 

[Martian]

Good luck with that! Perhaps there is a way to salvage something out of it (if your upline isn't much help). You must have impressed someone at the company to some extent. Maybe work on an educational program, brown bag lunch or something, that could help their employees better understand their benefits? It might be a way to "prove yourself" and if you can't get the BOR letter now, get it next year!

I like that idea, even if I can't get it to work here it should help me get into a few other places. That places a great value for an employer by allowing him/her to look very good to their employees in showing that they care enough to get them educated on the benefit programs.

 

[TXINSURANCE]

You need to let it go.

You made a business mistake, life goes on - admit your mistake and be stronger next time.

Sorry to be so blunt - but after reading this post, I am sure you will handle the next one different.

I am sure you had great intentions, but this is one of those "lessons of life" - you allowed the deal to slip, not the others involved.

 

[ins.dave]

Why some brokers suck! Go to Top

When you do an investigative call like this, never mention the name of the business/owner initially. You need to talk in general terms and find out first, if this guy is the decision maker, and then if they are using anyone now on the L/H side. Conversation develops from there.

Sounds like you spilled the beans before you brought everyone to the table. Live and Learn.

In the meantime, look around you. bunches of other prospects out there, don't let this get you down.

Hey we've all gave info to a client, and he turns around and buys it from his agent, or worse, another agent.

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That's for sure. Ya never really get over it either. No one likes to be used, unappreciated or taken advantage of. More than a couple a times I wanted to verbally and yes, although I'm embarrassed to admit it, physically rip em a new one. This pertains to my points made earlier on other posts about not wasting time with inferior quality people. You can't polish a turd. Don't waste time trying to make something out of nothing. If they want to F you they will. So, suss out what kind of person your dealing with early on. After a while you get good radar on this kind of thing. A douche bag is a douche bag is a douche bag. Spot it. Avoid it. Move on, move forward. This is about investing, not wasting time. Period.

Cool that we can vent on this site I think?

 

[CHUMPS FROM OXFORD]

18 month delay between posts. Maybe not a record...but close.

 

[dumminysmith]

You might want to consult someone who is very knowledgeable about this, and would be able to make you understand all the necessary details.