FEX Annual Meeting!!
- Thread starter jdeasy
- Start date
This just goes to show that you have no idea what IMOs actually have to do. That's okay though. Before we were an IMO I didn't have a clue either. I've found out the hard way what kind of work is involved.
Enlighten me as to why an IMO deserves 20 to 30% override on a self sufficient agent who doesn't need much support.
- 913
Because they are on the hook for tens of thousands of dollars.(if not hundreds of thousands of dollars).
As Suranceman says below. That's one good reason. Another thing to look at; With us, if you actually are a good agent and deserve higher than street, then that's what you get. If you don't, then you get street. We give what is deserved. If your IMO is making 20-30% off of you and you don't deserve higher levels, then that's your own fault, not the fault of the IMO. Your IMO had to work hard to get those levels, so don't discount that. How hard are you working to get the higher levels?
If you don't require anything from your IMO, then good on you. It's not that way with many agents though.
Try to broaden your thinking a little bit. You're only thinking about your situation at the moment.
Yeah, hundreds of thousands is more like it! We just had to pay rolled up chargbacks of $25K and $35K to two different companies. You can't do that and stay in business when you only make a 5% override!
Like I said before, there are many reasons why, but until we were an IMO I didn't comprehend it either.
I wish more agents were like JD and not worry about what his upline is making or not making...worrying about yourself should be the only priority.
If an IMO doesn't vet there agents it certainly can make them vulnerable. But does that mean that the self sufficient honest agent with good credit and no debt have to give up 20 to 30% to protect the IMO from the irresponsible agents?
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JD is more worries about everyone else's operation that is why he is a constant critic. My point is if giving my agents a reduced commission and taking the same risk as you by spending thousands of dollars each on leads for them, plus the potential of them not paying back there debts is a churn n burn system or makes me unethical, then you can literally say the same thing about every IMO that is taking a 30% override without taking any direct financial risk. So yes broaden your thinking is right.
- Thread starter
- #57
- 19,032
I don't care about what others make. That is your forte. Nor am I a constant critic. Your saying a lie over and over will never make it the truth.
I will always criticize the phonies of this business. Since you are one of those I can see why you think it's constant.
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Because the agent agreed to it when he signs the contract. If you don't want someone earning off your production contract direct. Or, choose an IMO that gives better rates. There is no company an agent "has" to have.
The same theory applies to someone who takes a reduced contract and free leads
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You don't know me and I don't k ow anything about you other than you're a puppet for FEX. Now go talk to Travis to ask him for permission and advice on how to respond.
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Willie knows he's full of BS. He's trying to put his spin on his agency giving 50% and free leads as being better for the agent.
You know, just like how food stamps and low level jobs is better for the American people than giving them what they need to prosper.
There will always be the Willie's of the world. They come and they go.
