Good OR Bad Offer????

[Guest]

I am a brand new P/C and L/H/VA agent and have been offered the following position in a "big" local agency:

Commercial Lines P/C sales ONLY
1099 Independent Contractor (NO company benefits)
***20% Commission
***Agreement/Contract forthcoming


I also MUST pay for the following:
DBA/Fictious Name state filing $220
Personal Business Cards ( *** No company affiliation listing allowed)
Laptop Computer to use while in the office
Gas, supplies, ect.
Any Leads

Does this seem like a "fair" offer from an established agency?

 

[JimmyUt]

I am a brand new P/C and L/H/VA agent and have been offered the following position in a "big" local agency:

Commercial Lines P/C sales ONLY
1099 Independent Contractor (NO company benefits)
***20% Commission
***Agreement/Contract forthcoming


I also MUST pay for the following:
DBA/Fictious Name state filing $220
Personal Business Cards ( *** No company affiliation listing allowed)
Laptop Computer to use while in the office
Gas, supplies, ect.
Any Leads

Does this seem like a "fair" offer from an established agency?

If that is 20% of what they receive from the carrier, you should pass, as this is not a good deal. Let's say you sell a $10,000 premium policy. Their commission is 15% or $1500 and you get $300 of that and you still have to pay for everything above. There are much better deals elsewhere.

 

[VolAgent]

Why can't you use the agency's name on your business cards?

 

[Guest]

Think it has to do with IRS rules ( not suppose to show indy as an employee)

 

[VolAgent]

Think it has to do with IRS rules ( not suppose to show indy as an employee)

That has nothing to do with IRS rules. You can put their logo on your cards with their permission.

They really don't want to be associated with you. Think on that.

 

[Josh]

Without more details, I'd pass.

 

[benwrigh]

Strange set up....

You are making 1/5 of what they make from sales that you generate without any resources or support from them.

Surely there are better options out there for you.

 

[Guest]

Actually I would be "splitting" 35 % commission (15% for help/guidance goes to another producer)...the other producer would actually "own" the account in his book of business.
After said time (months ???), I would still be 1099 with NO benefits, but get 35% and have my own personal book of business.

 

[Philly]

Doesn't sound like a good deal

 

[Josh]

Actually I would be "splitting" 35 % commission (15% for help/guidance goes to another producer)...the other producer would actually "own" the account in his book of business.
After said time (months ???), I would still be 1099 with NO benefits, but get 35% and have my own personal book of business.

You'd probably make more flipping burgers.