BocaLouis
New Member
- 11
Hi everybody I'm a newbie here but not new to insurance, a little background on me: I have being 215 licensed over 10 years and 2-20 almost 5 years, currently work as a producer. I want to start my own agency but do not have the necessary means at this time, so an agent approached me and made this proposal:
I will get a 1k monthly salary and a 75% commission on new business, and 20% on renewals, he will provide me with an office, leads, servicing will be done by he's 4-40 people, phone, computer, internet, etc. he currently have around 10 HO carriers and 10 auto carriers, it sounds good to me (and pretty much best choice out there) but the fact that I am only getting 20% on renewals discourages me a little, the potential that I see is that when get to be able to afford all the expenses on my own (everything mentioned above) the split will be 45 on renewals, what this guy is offering me is kind of a franchising deal as I will be by myself on the new location. I considered Bright way but they wanted a 60k initial and the split is 85 on new and 55 on renewals.
So please tell me what you think, your input will be appreciated
I will get a 1k monthly salary and a 75% commission on new business, and 20% on renewals, he will provide me with an office, leads, servicing will be done by he's 4-40 people, phone, computer, internet, etc. he currently have around 10 HO carriers and 10 auto carriers, it sounds good to me (and pretty much best choice out there) but the fact that I am only getting 20% on renewals discourages me a little, the potential that I see is that when get to be able to afford all the expenses on my own (everything mentioned above) the split will be 45 on renewals, what this guy is offering me is kind of a franchising deal as I will be by myself on the new location. I considered Bright way but they wanted a 60k initial and the split is 85 on new and 55 on renewals.
So please tell me what you think, your input will be appreciated