Licensed Sales Associate Pay

[Aram Fingal]

The captive companies have squeezed their agents to a point where they are getting paid less than producers at independent agencies. Which means the agent can't really afford to hire anyone. She's offering to give you her entire upfront commission so that she can get the renewals. An independent agent could actually pay you more commission than she's offering, and they'd still be keeping a cut for themselves. They're also a lot more likely to offer you renewal commission, largely because they can afford it.

So what I'm gathering here is that I should not go with a captive agency and go with an independent. I think that might be the best route for me. I'm talking to someone from an independent tomorrow. I'll see what he has to say. He is a friend that works with an independent that specializes in final expense. What do you think are some good questions to ask him when I talk to him, and what answers should I be looking for?

 

[Newby]

So what I'm gathering here is that I should not go with a captive agency and go with an independent. I think that might be the best route for me. I'm talking to someone from an independent tomorrow. I'll see what he has to say. He is a friend that works with an independent that specializes in final expense. What do you think are some good questions to ask him when I talk to him, and what answers should I be looking for?

You want to ask:

1. What companies do they sell and why did they select the ones they have? Then look the companies up on this forum to see what agents like or dislike about them.
2. Are you paid directly from the company?
3. If you decide to leave and transfer all your contracts elsewhere, will they release you?
4. How do they recommend getting leads? Do you have to buy leads through the FMO?
5. What is your commission level? Are you vested on day one?
6. How much FE personal production did the guy above you sell last year?
7. What forms of training do they offer?

 

[VolAgent]

Based on what you posted about their production, you are taking to an agent that is struggling to meet minimums. Basically, she wants you to push her over the top so she can keep her contract.

2-3 people and they just wrote 18k last month? She isn't long for this world. I'd look elsewhere just to avoid the hassle of finding a new home when Allstate folds her agency into another in a year or so.

 

[bleedbama]

Based on what you posted about their production, you are taking to an agent that is struggling to meet minimums. Basically, she wants you to push her over the top so she can keep her contract.

2-3 people and they just wrote 18k last month? She isn't long for this world. I'd look elsewhere just to avoid the hassle of finding a new home when Allstate folds her agency into another in a year or so.

This is exactly what it started to feel like to me. The more I talked with her, and the more questions I asked, I started to realize it didn't look good for me here. Thanks so much for your input guys, you are definately a huge help in my pursuit for the right fit!

The captive companies have squeezed their agents to a point where they are getting paid less than producers at independent agencies. Which means the agent can't really afford to hire anyone. She's offering to give you her entire upfront commission so that she can get the renewals. An independent agent could actually pay you more commission than she's offering, and they'd still be keeping a cut for themselves. They're also a lot more likely to offer you renewal commission, largely because they can afford it

I'm starting to uderstand what you are saying. The more advice I recieve and the more I read in the forum, this def. holds true. She truly thinks she is giving me a good deal, but to me it sounds awful. I'm not looking for a "job", I'm looking for an opportunity!

You want to ask:

1. What companies do they sell and why did they select the ones they have? Then look the companies up on this forum to see what agents like or dislike about them.
2. Are you paid directly from the company?
3. If you decide to leave and transfer all your contracts elsewhere, will they release you?
4. How do they recommend getting leads? Do you have to buy leads through the FMO?
5. What is your commission level? Are you vested on day one?
6. How much FE personal production did the guy above you sell last year?
7. What forms of training do they offer? Today 02:44 AM

I actually talked to my friend from the independent office that I was talking about today, and his agencies "trainer/recruiter/whatever you want to call it". Your list was of questions was extremely helpful when I sat down to talk to him. I actually want to ask some questions about the company and the companies it writes under but I'm thinking I'll start a new thread for that, don't want to post under "wrong" thread topic.

 

[benefits365]

First and foremost, the commission that the owner is offering you is way too low. I work for ERS Life as a life/health agent and they start new agents on a 50% commission plus 10% on the company's profit sharing building side for every agent you bring in. The promotion is fast depending on how you pursue your goals and the points that you and your team gets. There is no quota in this company but of course if you want to make money, you work on it as much as you can. And if you have agents under you or were able to build your team, you may qualify for an application on the ownership side and get more compensated on the Company's profit sharing ownership side. The company's mission is to maintain Agents, make them top producers, keep them happy, train them and help owners for the growth and success of running their insurance business. So you see, you would feel and know if there would be growth for agents in a company. I am blessed I got to be in ERS Life. The company's expanding nationwide and if you're interested, I can help you get started and show you how we can help you grow as an agent. ERS Life is growing nationwide and are looking for agents and brokers to be future owners of their city or state. The company's expansion is amazing because the compensation plan they have is revolutionary. My name is Anna Liza Flores by the way. If you're interested to know more about the company, email me at [email protected]. All the best and more!!!

Oh dear god.......
Where do these recruiting spiels keep coming from? Do these actually work?

 

[worksmart75]

I'm just sharing what our company offers and hoping they will find it helpful as it did on me. But still at the end of the day, it is up to the Agent of how he sees and feels about the company. You can check erslife dot com. Thanks and all the best for everyone in this forum.