working with other agents..contracts

[troyt73]

I am looking for a sample contract that one agent may use when working with another agent of a different company. Here is my short story. I have only a couple years experience selling Life & Health, and have worked with a local agent that specializes in Estate Planning (which he provides his clients for free in the hope of an insurance sale after the planning is done). I would eventually like to do Estate Planning work myself, so I am trying to learn from him.

My problem is we don't have a working contract to protect my interests. He seems to try and take over the show, and runs illustrations on his own. So far, he has not made contact with any clients without me, but I would like a document in place in case such a problem would arise. Anyone have a similar contract that I could look at?

As far as I am concerned, when he is dealing with my contacts, he is working for my company. I would like something legal to keep it that way. Like my business card is used solely, so I don’t loose customer referrals who would call him directly.

He is also much older, and seems to forget what is said between us. Recently I found out a lead that I provided for estate planning, was handled because he did not remember that I told him that the client would be calling.

What do you suggest? Also, what would be a fair percentage for the other agent of the commissions off of any sales?

 

[LGilmore]

me thinks you'd better learn your stuff quickly... I've seen this situation many times.... he's the shark and you're the chum....

Find another source before too long to learn from. One that isn't going to swoop in and take the business.

 

[Mr. Bill]

I agree. One of the biggest problems with respect to agreements is enforcement. What are you going to do if he "steals" a lead or a client? What attorney is going to take your case and how much are you willing to pay the attorney for probably not winning anyway?

You've already identified discomfort with the relationship. Go with your gut. The problem is that once you've identified these negative feelings, you will likely focus on them or interpret even simple things as confirming the negative. You might want to forge a relationship with a really good estate planning attorney, some of them actually know what they're doing. Good luck to you!

 

[The Rabbi]

How convenient that he forgets. Who needs him?

 

[troyt73]

Thanks, and I guess that is the right path. Its just too bad a person just can't trust anyone anymore. I am not a greedy person, I believe that there is enough work for everyone, but some people just can't stop being users.

 

[Mr. Bill]

Which is why so many horrible people sleep perfectly well at night. The old saying "what goes around, comes around, you just probably won't be there to see it happen" applies here. Again, good luck!

 

[LGilmore]

Just reminds me of my first year in the business. Senior agents would befriend newbies to "help" when they were really gearing up to take the book of business away when the newbie failed. Their help really was to help you out the door..... Then they come back and clean out your file cabinet...

Learn quick, protect your leads. Be really careful who you let communicate with your prospects. You'll last longer.

 

[Mr. Bill]

Wow. Exactly the wirehouse experience!!!

 

[Sam]

I have an agency agreement for commission split cases that might have a few clauses that would work for you. It was worked up specifically for an industry niche, and only has group health language in it. However, I only have it in PDF and I cannot post it. PM me if you want a copy.

 

[Ahnuld]

Thanks, and I guess that is the right path. Its just too bad a person just can't trust anyone anymore. I am not a greedy person, I believe that there is enough work for everyone, but some people just can't stop being users.

So...you've met my ex?