Ninety-Two Percent of All Agents Fail - Why?

[JacquesWerth]

Reposted by Rob Liano:

I wonder what percentage fail because they sat on their lazy ass putting up posts on an insurance forum instead of marketing their products ?

Perhaps that depends on what the people who are posting actually get out of it.

 

[1manshow]

Just glad to be one of the 8%

And I didn't do it sitting home in my underwear as some may have said

 

[Brandon Lewis]

If I could boil it down to one reason, I would say because most agents don't find someone who is already successful to model. They experiment and experiment, try this and try that, and before they are able to become successful they have already spent all of their money and they are burnt out.

This forum is a great way to find people already successful.

Brandon

 

[Question]

If I could boil it down to one reason, I would say because most agents don't find someone who is already successful to model. They experiment and experiment, try this and try that, and before they are able to become successful they have already spent all of their money and they are burnt out.

This forum is a great way to find people already successful.

Brandon

Most of whom seem to ask for money in order to share information.

 

[ksigmtsu]

Most of whom seem to ask for money in order to share information.

I will say without reservation that no person on this forum has ever asked me for money in order to share any information.

 

[LittleNY]

May I ask (please don't judge, I've just been hired as an agent):

How big of a role does the economy play out in Agent failure?

I'm very convincing; I can confidently say I have what it takes: I can sell you what you think you'd never buy in a million years.

HOWEVER, how does one go about finding the clients?
Sure thing, I have a list of people that I can call for months. Yet, since referrals are a necessity, how well would this work: if a friend provides me with a list of 500 of her clients (cell phone industry) without advising all 500 "Hey my friend will contact you" (technically it's not a referral), would that work?

 

[DJRoss]

Actually, the only two major industries that have such high drop-out rates are financial services and real estate. In wholesale distribution it is about 15 percent. In High Tech software and hardware sales it is less than 20 percent. In car dealerships it is about 60 percent.

My first post in this forum. The national numbers do not add up to near 90%. Actually the retention rate in this industry is 36%. However depending on which carriers you sign on with if you are captive or which you carry as an independant it could be significantly higher/lower.

Some captive nationals actually flirt in the mid 40's while some MLM based carriers reflect the worst churnrates coming close to the 90% levels discussed in this thread. Indy's tend to reflect the national average which is close to 1 in 3 agents are still around after their first year and of those, about 2/3 rds make it over the financial cusp to stick it out as long as they want to moving forward.

 

[WinoBlues]

Good first post.

Have no idea if the numbers are correct or not. But good post.

My first post in this forum. The national numbers do not add up to near 90%. Actually the retention rate in this industry is 36%. However depending on which carriers you sign on with if you are captive or which you carry as an independant it could be significantly higher/lower.

Some captive nationals actually flirt in the mid 40's while some MLM based carriers reflect the worst churnrates coming close to the 90% levels discussed in this thread. Indy's tend to reflect the national average which is close to 1 in 3 agents are still around after their first year and of those, about 2/3 rds make it over the financial cusp to stick it out as long as they want to moving forward.

 

[Bitnis]

Because insurance is sold and not bought. There is not much demand for the product in my opinion. It's not like you're selling Mac laptops. People don't want to pay for insurance.

 

[Stephen]

Half of the problem is thatt many recruiters "hire'em in masses, teach'em in classes , and fire their a****"

Sometimes it is work ethic or a lack of , some agents can't manage personal finances with the ups and downs of commision checks.