Realistic Numbers for New Agents

[TampaHound]

I want to change this up a bit and ask about part timers. I still have my day job (interestingly enough selling insurance over the phone), but am looking to expand a bit since my company offers crap benefits.

So lets say an agent puts in 10 - 20 hours part time. What would you consider "reasonable success"?

I'm concentrating mostly on Over 55 communities and using marketing geared to wards those communities.

 

[John Galt]

I want to change this up a bit and ask about part timers. I still have my day job (interestingly enough selling insurance over the phone), but am looking to expand a bit since my company offers crap benefits.

So lets say an agent puts in 10 - 20 hours part time. What would you consider "reasonable success"?

I'm concentrating mostly on Over 55 communities and using marketing geared to wards those communities.

May I serve you up some helpful spam?

 

[HoosierLife]

I want to change this up a bit and ask about part timers. I still have my day job (interestingly enough selling insurance over the phone), but am looking to expand a bit since my company offers crap benefits. So lets say an agent puts in 10 - 20 hours part time. What would you consider "reasonable success"? I'm concentrating mostly on Over 55 communities and using marketing geared to wards those communities.

20 hours a week = $150k AP

 

[springbokhouston]

I want to change this up a bit and ask about part timers. I still have my day job (interestingly enough selling insurance over the phone), but am looking to expand a bit since my company offers crap benefits.

So lets say an agent puts in 10 - 20 hours part time. What would you consider "reasonable success"?

I'm concentrating mostly on Over 55 communities and using marketing geared to wards those communities.

TampaHound, everyone has a different value of success, are you happy with $1000 a month extra or are you looking to make $5000 a month? Like everything else this business takes immense focus and you will see more personal success (at whatever level) jumping in the deep end than ***** footing around the side of the pool. One thing that will remain the same however is how much AP you need to make off every batch of DM leads (assuming a lead cost of $25-$33 per lead).

I agree with JD that you should make at least $2000 on 20 leads, or put another way, at least $100 per lead bought. With an average sale around $650 you need to sell about 15% of your leads (20 x 15% = 3 sales) to remain in the game and you should definitely grow from there.

My personal philosophy is figure out what your average is then grow from there in increments until you a) fill your schedule, or b) don't have enough time to get to everyone. Once you have that number, be it 30 leads, 40 leads or 50 leads a week, then your main growth will be accomplished by upping your closing ratio on seated appointments and getting referrals.

So back to the part time question. Can you work 20 leads in 20 hours a week? I believe you probably can. Selling 3 of each batch each week at the industry average you will make around $2000 to $2500 per month the first year and over $4000 a month from year two on if you are setting your own appointments. This takes into account a 80% persistency, lead credits etc.

 

[John Galt]

TampaHound, everyone has a different value of success, are you happy with $1000 a month extra or are you looking to make $5000 a month? Like everything else this business takes immense focus and you will see more personal success (at whatever level) jumping in the deep end than ***** footing around the side of the pool. One thing that will remain the same however is how much AP you need to make off every batch of DM leads (assuming a lead cost of $25-$33 per lead).

I agree with JD that you should make at least $2000 on 20 leads, or put another way, at least $100 per lead bought. With an average sale around $650 you need to sell about 15% of your leads (20 x 15% = 3 sales) to remain in the game and you should definitely grow from there.

My personal philosophy is figure out what your average is then grow from there in increments until you a) fill your schedule, or b) don't have enough time to get to everyone. Once you have that number, be it 30 leads, 40 leads or 50 leads a week, then your main growth will be accomplished by upping your closing ratio on seated appointments and getting referrals.

So back to the part time question. Can you work 20 leads in 20 hours a week? I believe you probably can. Selling 3 of each batch each week at the industry average you will make around $2000 to $2500 per month the first year and over $4000 a month from year two on if you are setting your own appointments. This takes into account a 80% persistency, lead credits etc.

Great insights here ^^^^^ from a guy who is doing it. I agree completely its about lifestyle and options.....a new agent may be a debt free living kind of guy or gal and $6000 per month in ap is like someone else writing $150k year with loads of debt and revolving credit.

 

[Baseball7]

Most important to know what success is.
What is your premium budget? What do you need to write to keep the lights on?

 

[TampaHound]

Most important to know what success is.
What is your premium budget? What do you need to write to keep the lights on?

I currently work for a insurance call center. I do OK for myself (earning roughly 50K annually) BUT I've never done "outside" sales. Or straight commission sales.

When I do this I would not be leaving my job till I am sure I can make enough money to leave my current job. To start, I would be happy with 1 or 2K a month to supplement my retirement plans.

I just want to make sure that I'm "doing the right thing" here and learning as I go. I believe this forum, and the answers I get, generally help.

At least when they are not being smart asses.

 

[dtownboy]

I currently work for a insurance call center. I do OK for myself (earning roughly 50K annually) BUT I've never done "outside" sales. Or straight commission sales.

When I do this I would not be leaving my job till I am sure I can make enough money to leave my current job. To start, I would be happy with 1 or 2K a month to supplement my retirement plans.

I just want to make sure that I'm "doing the right thing" here and learning as I go. I believe this forum, and the answers I get, generally help.

At least when they are not being smart asses.

Are you looking to continue doing insurance telesales or are you looking to change over to f2f.

 

[Cyborg7]

Most new agents will write at least 8 apps weekly from 20 dm leads.

Average AP per deal is a lot closer to $1200 than $650 or whatever these guys are saying.

People are being way too modest on this thread. I know the majority of the guys on this forum are writing over $300k AP yearly by year 3.

 

[springbokhouston]

Only 8 apps from 20 after 3 years Looks like you need to pick up your game and find a few more.