Your guide to shared leads

[Crabcake Johnny]

Very true. Even if you can only close 1 out of 20 leads at $8 a pop on average you're still making a huge profit - much more than almost any other business owner. Again, at 20% the average commish is $700 and even if it cost $160 in leads you're netting $540. The problem is most agents simply don't get the required amount of leads. 1 out of 15 is a good closing percentage but show me agents who are getting 60 leads a week and closing 4 deals. Not many.

 

[Sam]

I can usually tell with a decent amount of accuracy, who I am up against after the fourth or fifth lead. Moreover, some companies will tell you exactly how many people are buying the leads in your area, and which companies they are from.

However, if a company will not give out that information, and they have a decent buy in minimum, say $500, then submitting your name might be the only way to see if you should go with this company.

 

[Crabcake Johnny]

What you really want to know is if you're up against a call center. If you are then the prospect will be getting a call a few seconds after they submit their info. And heaven forbid the agent sells the same coverage you do - GR, Assurant, etc...

Some lead companies offer live transfers to agents who are willing to pay. So while you just received the lead the prospect is already on the phone with another agent.

You'll also want to know if you're up against another local independent agent. I had one agent with me over a year ago buying leads and it turned out he was competing against a much more seasoned indie agent in his same state.

Shared leads are great when you're highly skilled and knowlegeable. But I've seen A TON of agents not close 1 out of 50 leads. Put it this way, about 2 years ago I hired 12 agents and gave them free leads and a 15% contract. Not one of them is left standing.

 

[STIBROKER]

Even if you can only close 1 out of 20 leads at $8 a pop on average you're still making a huge profit

my vimo test....

 

[Hunter]

Rubbish. If I'm gonna be up against some in-house GR agent recommending Copay Saver I want to know that.

I am not saying that you are wrong for wanting to know...I was just saying that you method for finding out causes headaches for everyone...including you.

 

[somarco]

I don't know a single lead source that does not sell to call centers. They can sell 20 - 60 leads to an agent or thousands to call centers.

Guess which one they would rather have?

And all of them sell to folks hawking the discount plans.

I really don't care. What I am more interested in is the overall quality of leads, the volume and the credit policy.

Took an app earlier on a guy that bought a GR policy from a call center in another state. He never heard from the agent after the sale. Got the policy in the mail last week . . . with a rider. Policy was mailed direct from GR and the agent never told him of the possibility of a rider or that it was approved with a rider.

Time may very well put a rider on his policy, and while he does not like it, at least he knows what may happen. Pricing is about the same but he is moving to a higher deductible to take advantage of the 3 yr rate guarantee.

And . . . he get's a local agent who takes the time to explain things rather than a pusher in another state who is already on to the next sucker.

 

[Crabcake Johnny]

Or this - one of my telemarketers got me 15 leads yesterday and billed me for 5 hrs of calls at $12 hour. That's $4 per lead, exclusive and all small biz owners.

 

[aufan]

Just cruising through some old posts and thought this one was worth revisiting.

Great, great info

 

[CHUMPS FROM OXFORD]

Just curious about VIMO. After the applicant enters their information on their site, Vimo provides a bunch of different quotes (Humana is always one of them) and gives the applicant a chance to "apply" for coverage. Of course, they sell it to four agents as well. That's why I don't use them. I just asked a guy about it yesterday and he kept dodging the question.

 

[somarco]

I fired Vimo some time ago. Poor quality leads. Deteriorating credit policy for bum leads.

I asked about the online (Norvax) quote engine that is part of their site. I was told the apply button was disabled. When I tested it, that proved to be true. Can't say what they are doing now. Haven't used them in over 6 months.