Selling Mortgage Protection by Phone
- Thread starter jn8691mr
- Start date
- 1,900
That's my point though -
9 times out of 10 an agent is better off finding their own leads and taking street level contracts.
I'm not denying that but sometimes people like getting free leads with no stress.30% on fully underwriten with free leads could be like 109-100% with Fe as it takes so many leads to generate a sale. I'm sure a top producer will fig out hey if I were making 100-110% on fully underwritten I'd make x more. It's like saying why aren't all $1 mil real estate producers at relax making the full commission? They probably got their broker to a 90% payout and the marketing budget is worth giving up 10%. I'm sure a top Fe guy would take 110% with 50 free Dm leads a week. Even though he could get 125-135% on his on he's willing to give up 5-10% to not have to worry about paying $1500 a week for leads. The imo is still netting 4-10% and is happy. The agent having no expenses might even sell more as there's less pressure
- 5,260
The secret behind final expense recruiting is that...
...Some agents LOVE drinking the Kool-Aid!
...And that there is not a homogeneous group of agents that think/act the same.
We Forum readers and our mentality represent a small sliver of the at-large mentality of agents in the field.
Independent agents are normally driven by maximizing revenue and being in control due to their entrepreneurship tendencies.
But perhaps 80% of agents have an employee mindset. They value things like camaraderie, fellowship, benefits, a team environment, and want more structure (read less freedom) than what IMOs on this forum would normally offer.
That's why you see so many agents thriving in free lead programs. If things haven't hit the fan, there is little impetus on fixing what is perceptively "not broken."
bluezebra48
Expert
- 67
I'm in a similar program (without knowing who you talked to, maybe the same program!). I split 50% of the application and pay zero for leads. 90% of it is term, mostly FU, some SI (Sagicor if they can, ANICO non med if they can't). My father has been buying leads since 1991 and used to have a 140% with AIG back in the day, but chasing the lead cost always caught up to him with the 6-12 week lag time of a FU policy. I will never pay for a lead and sell 100% on the phone. Good way to go if you can find the right leads.
Bingo. I think my mistake is I forgot to mention that fu is a completely different animal than Fe as lag time between written and issue date can be 8 wks plus some will get rejected. In Fe it's as little as 3 days to get paid and few get rejected.Thus in phone sales with Fu lead cost can sink you as your waiting to get paid . And I'm sure the previous poster will confirm not having the stress of big lead costs weekly I bet you sell more.
- 5,260
That's why it's extremely difficult to convert a Kool-aid drinking believer (from any IMO or, more specifically, from a captive outfit like Lincoln or Primerica that invests heavily in brainwashing its agents) to another outfit, unless there is serious underlying and obvious deficiencies, such as lead shortages, severe personality conflicts with management, etc.
It takes a lot of effort and first-hand experience to shift someone's perception, and typically is a slow-process.
Try talking to Lincoln agents - even with a modicum of success - about how they could increase their net by 50% and improve their product offerings without any structural sales and marketing strategies simply by going independent, and you will be shocked at how many would prefer the Devil they do know to the Devil they don't.
And when they "wake up," many times it's too late.
All in all this is why I prefer to recruit new agents to final expense versus those experienced. Usually it's much more profitable and one does not need to debug them.
Most kids have moved beyond Facebook. The're now on Snapchat, Instagram, or whatever.
According to Pew Research Center, 79 percent of people ages 30-49 are on Facebook.
If you don't adapt, you'll be obsolete in 5-10 years.
- 2,632
Ridiculous post...................
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