Another Newbie with some questions....

[I_C_BROKE_PPL]

So have my Life,Health, P&C for Idaho and have my non-resident Washington licenses also (live near Idaho/Washington border). Looking to get onboard with an IMO. I have been lurking on this forum for a few days now and it seems to be a big recruiting tool for other agents. So its a little difficult to weed through and find I good IMO for a newbie and the ones that have to fill some quota for recruiting other agents.

My quick backstory... I have been in the sales industry for over 20 years. 15 of those 20 years making $100k+ in various sales roles, telephonic & face to face sales, outside & inside sales, salary with commission & straight commission & it seems everything in between. Was at my dream job for over 10 years and left because my wife got a job with a big boost in pay at a local hospital as a NP. So we moved from Long Island,NY to North Idaho. So now have to make the best with the cards i have been dealt.

Did some research and there are about 700k people in the 3 counties I would expect to be working in...so there is a market but don't know much about the saturation level yet.

Now to my questions....

- So do many people only get into selling insurance so that the eventual end game is recruit people and charge them $50 a lead?
- If a lead has a bad phone number, do lead generating companies/IMOs normally make good on that lead after they verify its a bad lead?
- What attributes would a newbie be looking for in a IMO? Commission rate, lead commitment, etc.)
- Commission rate is important but for me training/a good mentoring program for me is key/support is more important right now. Not having to recruit agents but just being able to just sell (for now)...... which IMO may the bill?
- Any agents currently selling in the Spokane, WA/Coeur D' Alene, ID?

Thinking about selling MP &/or FE along with cross selling some other products.

 

[LGilmore]

Now to my questions....

- So do many people only get into selling insurance so that the eventual end game is recruit people and charge them $50 a lead?

That is more the MLM side that this business can be. If you want to go that route, you just need to be good at recruiting. You'll find several people here that will PM to do the same to you.

Others are just agents who are agents first. Over the years it ebbs and flows with who is represented more here.


- If a lead has a bad phone number, do lead generating companies/IMOs normally make good on that lead after they verify its a bad lead?

Going to depend on the lead company. Review that section here. I haven't used lead companies for the last few years as the quality has gone down hill.

- What attributes would a newbie be looking for in a IMO? Commission rate, lead commitment, etc.)

Products to offer, how much they help with things and how well they leave you alone when you don't want to be bothered. Commission rates don't matter if the entity doesn't have much to offer, lacks backroom support and bugs you.


- Commission rate is important but for me training/a good mentoring program for me is key/support is more important right now. Not having to recruit agents but just being able to just sell (for now)...... which IMO may the bill?

I did my training with a captive company (NYL) and it was top quality. Most of the training or education I do now, is on my own. So can't help you here.



- Any agents currently selling in the Spokane, WA/Coeur D' Alene, ID?

West side of WA. Occasional sales on the East side.

Good luck


Thinking about selling MP &/or FE along with cross selling some other products.

 

[Mike007]

Most IMO will not require you to recruit. They rather have you sell. The IMO that requires recruiting are MLM based agency.

Final Expense commission can be roughly around 110-120%. If you want more than that, you will need numbers to prove your worth.

Some IMO may purchased lead on your behalf or they will send you directly to a Direct Mail company and you can order them yourself. Whether or not you get credit for bad leads. That depends on the person/company you got leads from.

My advice to new people is find a local IMO that is successful.