Becoming a State Farm Agent

[fastrack1]

I am sure that every captive carrier operates a little differently, many however, do require different things. They tell you where you can office, your hours, your products, your expected production, who you can hire, who you can sub-lease office space to, what you can and cannot place outside if that's even an option, how to configure your voicemail message, and what you can do with your book of business if/when you are ready to retire. do you have a regional sales manager, district manager, none of the above? If you do, that's who's breathing down your neck and who you have to "suck up to" for anything, those that do - get, those that don't - don't. Of course sucking up or not is always optional, but if you don't play the game you get left in the dirt. Kudos for having your office setup where it can run without you for 3 weeks, I can only aspire for such. My office would probably do better with me out than in but can't let go - the inner micro manager within says no no no...and then there's that nagging work ethic thing, I feel I've got to be in there doing the same level of work I expect from my employees, old habits are hard to break. The younger generation doesn't have such a problem with this and to some degree I applaud them and envy the ability to walk away and have faith it will keep on running smoothly. I'm trying but some days I feel that I might have a little more in common with the Jet Blue flight attendant than I would like to admit.

I don't think its a secret that I'm a State Farm agent and I don't have any of the issues that you list because I've been around for awhile. I choose everything about how my business runs and operates (with exception to forms, brochures, etc) I don't have sales managers and no sales requirements. I have goals and rewards for meeting goals given to me by the company and the local management teams but I make the choice if I want to go after them. I do agree that in order to "get what you want from management" you have to be a producer and I am. Not for them though or because I have to, but for me and for my own personal work ethic and sense of accomplishment.

However, none of this holds true for the new guys and that's what this thread is about. They are told everything to do and are effectively employees. That would not be for me.

I said I hadn't been to the office in three weeks, not that I haven't worked in three weeks. Being at the office doesn't equate to work. You are nothing but an employee if you can't get your office to run without you. You need others making money for you without you so that you can either pursue more money or other interests, hobbies, etc. If you hire good people, pay them well and train them well, you shouldn't be needed except for the big stuff and the big picture. You need to fire that inner micro manager You can't do any of this when you first start out, but after 16 years I would hope that you would have a chance to.

Best of luck!

 

[VolAgent]

What is this QRP that you speak of?

 

[mick4]

Are there any current agents 1-2 years that can give me their take on SF agent opportunity? Have you been able to run a sucessful agency without going into personal debt in range of $50K - $100K? If, so how were you able to do it if SF mandates to you all you start? Any information would be greatly appreciated.

 

[defender]

Some go into debt, some don't. There's too many variables to discuss. It's a chance you'll take. Some have gone as much as $200k and have had to file bankruptsy, some are given a sweet book and do quite fine.

The variable occurs in years 3 and 4 when your comp can be reduced as much as 20% if you don't reach their benchmarks.

If you reach your benchmarks, the next year's objectives are even higher and so on, and so on.

 

[fastrack1]

Are there any current agents 1-2 years that can give me their take on SF agent opportunity? Have you been able to run a sucessful agency without going into personal debt in range of $50K - $100K? If, so how were you able to do it if SF mandates to you all you start? Any information would be greatly appreciated.

There are 31 pages on this thread. Have you read them? I think your question will be answered if you do.

 

[xrac]

There are 31 pages on this thread. Have you read them? I think your question will be answered if you do.

That is a great answer. Why don't you just pick up a phone and start calling agents, find a few that have been with SF for 3-4 years and ask them that question?

 

[fastrack1]

I heard the only insurance they can write now is auto.
Why would anyone limit themselves to that.
I know State Farm agents who have been with the com[any for 30 years and are stuck making half as much income.
The insurance world can be cruel enough.
Good Luck

If you took two seconds to research that fact, you will easily figure out that it is false. There are some areas of the country where they can't write homeowners insurance, but State Farm offers around 80 products now, so to say they only write auto is completely false.

There is also not a single agent who has been around for 30 years that is now making half as much income.

Rumors, Rumors, Rumors! Didn't your momma teach you better?

 

[taainsurance]

Whatever you do, do NOT start scratch! I know several agents who lost everything starting scratch. The captive opportunity is not what it used to be. Just ask any agent who got started in the last 20 years.

 

[fastrack1]

Whatever you do, do NOT start scratch! I know several agents who lost everything starting scratch. The captive opportunity is not what it used to be. Just ask any agent who got started in the last 20 years.

I would say ask any agent who started in the last 7-8 years. The guys that started 10-20 years ago are doing just fine, thank you

 

[kylewhite214]

Good luck to your new undertaking..