Wow! This is what I have been looking for. I was recently approved by Farmers and am wanting to know more about what really goes on and why they are so willing it seems to start agents. I wanted to know about Farmers as a company.
I do, but I'm thinking of getting rid of it. Does anybody have any opinions on Field Data. Seems pretty useless, since the Dashboard is what we end up having to use. And for $37/mo. , I know it's not a lot of money, but $37 here and there adds up quick.
Any Farmers Agents have an opinion about Field Data they would like to share?
------------------------------------ Jim Gaffigan is hilarious.
I have never heard of Field Data. I really don't mind using the Dashboard. I know they are constantly working out different bugs, but I enjoy all of the resources it provides us with. (Marketing campaings, B.O.B., quoting, etc.)
Is Field Data some kind of agency development software?
Field Data is an off-line rating system, with a CRM system built into it too. It's a neat piece of software, since you can give pretty accurate quotes even when you do not have access to the internet. And it has B-day triggers, and other customer retention triggers too.
I'm surprised your DM never told you about it. It's good for Agents who are starting out, but really, it's a bit cumbersome, since you enter all of a clients info into Field Data, then you have to re-enter all of the info into the Dashboard, so you have to enter in everything twice, but it is nice to have that off-line quoting feature.
I have never heard of Field Data. I really don't mind using the Dashboard. I know they are constantly working out different bugs, but I enjoy all of the resources it provides us with. (Marketing campaings, B.O.B., quoting, etc.)
Is Field Data some kind of agency development software?
B.o.b is an amazing online CRM! I didn't utilize my first few months, but now, it's one of the only icons I click on when I first log on to the Dashboard. From there, I go to the Image Center, Print Center, etc...
One thing I've thought about recently is that BoB, and the CRM is completely online, in the Farmers system, if I ever wanted to go independent, or move company's, it may be difficult to get my book of business. I keep paper copies, but it would be a BIG drawback to not have everything in digital format!
I'm not thinking of moving company's or going independent, but I've been thinking a lot about how relationship driven this industry is, and to lose files would sink you. I'm gonna go download my book right now...and do a backup...
Great information Norcal & BK! I'm nearing the threshold to enter the industry. I'm currently in the real estate industry and would like to remain active in the industry as well as leverage my existing contacts in the industry. I have been in the state farm program and am approved to apply for an agency. I haven't considered farmers up to this point but am somewhat interested as state farm doesn't have an available position where I live and I am not sure I want to move.
Can one work in the real estate industry and have a farmer's agency? How do you feel the farmers opportunity stacks up vs. state farm?
I also talekd with Farmers... One of the key advantages was that they would let me continue to do mortgages while I was with them. They are also much less restrictive as far as offering products from other insurers is Farmers does not have that product. The disadvantage compared to what I am hearing about State Farm is the support system and training. I have read some nasty things about Farmers on the web. Taken with a grain of salt, but they do seem eager to hire. The District was talking to me 30 minutes in about making me his 'partner' etc.. He was a typical salesman. State Farm has not come across like that. I'm sure both have pros and cons, but Farmers does not seem like a fit for me...
Since you seem to be the resident Farmer's agent, could you give some of us aspiring agents some insight into what it's like working for Farmer's in your area? I was wondering about things like leads and training that we will get from Farmers and the extent of support from them.
I am in a similar situation. I am not sure I want to completely give up Real Estate and State Farm will not allow any activity at all. Farmer's does? The State Farm people seem like a class act and I have a couple of friends and family who have been really successful so i think I am going that direction.
My advice is give up real estate and go with State Farm if you are offered a position. Farmers seems to have a lot of agent turn over and are always cycling between cutting rates to gain market share or raising rates to regain profitablility. A friend of mine was with Farmers and would advise against going with them. He is now independent. I have saw no turn over among the SF people except by death or retirement.
Yeah thats good advice. Its been a good road but all good things must come to an end I guess. Also I told the wifey that she will have to get her broker's license so I can still meddle haha.
Yea that works! In fact I know a few guys who are either captive or with broker dealers who get around selling away by having a wife who is licensed.
Since you seem to be the resident Farmer's agent, could you give some of us aspiring agents some insight into what it's like working for Farmer's in your area? I was wondering about things like leads and training that we will get from Farmers and the extent of support from them.
Any information is appreciated
I'm sorry I haven't posted lately. Life gets in the way too much!
Leads & training depends 100% upon your District Manager, so shop around for a DM that has a plan for new agents, and call around to a few Farmers agents in the area you plan to target & ask them 'what their opinion is of some of the different DM's in the area'. Just make sure to ask them in a positive way, since you probably will not get any useful information if the Agent thinks he's throwing a DM under the bus.
As far as leads, my DM provides me Homeowner Leads, but for the most part, you need to target yourself:
1. Friends/Family
2. Past co-workers/clients/acquaintances
3. Referrals from the above two
4. Then begin targeting Strangers, & referrals
That's a pretty common way I've seen many agents start out with growing their book.
Also, the computer system that Farmers Agents use is called the Dashboard. It's frustrating as hell the first few months you begin using it, so make sure that your DM has resources to teach you the Dashboard hands-on. As with anything in life, the Dashboard is not hard once you learn to use it, but in the beginning, it's very difficult to juggle marketing, obtaining clients, satisfying them and entering in information on the Dashboard. It's just time consuming at first, but you pick it up soon.
Farmers is not the only company that subsidizes you during your first couple of years. I started with Farmers but I didn't have the money to quit my day job and sell insurance full time. After a few months of selling insurance only 1-2 hours a day I started looking at other options. That is when I found out that Allstate will let you purchase an existing agency. For me this was a better option because I was able to purchase a couple hundred policies and kind of bypass that first year or two of starving. I didn't have any problems with Farmers, I just wasn't able to quit my full time job and do insurance. Buying an Allstate agency gave me enough money in renewals that I could afford to quit my job. Allstate also gives you some pretty big commissions during your first three years to help you get up and going (as much as 45%.) If you haven't made up your mind yet I would at least look into it. You might also speak with some agents (farmers, allstate, state farm, independent) in your area and see if they are hiring sales producers. That is another way to get into the business and see if it is right for you.
Farmers is not the only company that subsidizes you during your first couple of years. I started with Farmers but I didn't have the money to quit my day job and sell insurance full time. After a few months of selling insurance only 1-2 hours a day I started looking at other options. That is when I found out that Allstate will let you purchase an existing agency. For me this was a better option because I was able to purchase a couple hundred policies and kind of bypass that first year or two of starving. I didn't have any problems with Farmers, I just wasn't able to quit my full time job and do insurance. Buying an Allstate agency gave me enough money in renewals that I could afford to quit my job. Allstate also gives you some pretty big commissions during your first three years to help you get up and going (as much as 45%.) If you haven't made up your mind yet I would at least look into it. You might also speak with some agents (farmers, allstate, state farm, independent) in your area and see if they are hiring sales producers. That is another way to get into the business and see if it is right for you.
I have been with Farmers for 10 years. My advice is to talk with 3 or 4 other Farmers agents in your area that have been with Farmers for 5 years or longer. And choose the agents you talk to on your own. If you ask your prospective "DM" for recommendations, he will only point you to the agents that will paint a rosey picture. You need to hear the whole picture, the good and the bad. It is not always rosey, believe me. The reason Farmers seem so eager to hire agents is because they have such a huge turnover. Out of 10 agents recruited, only about 3 make it two years into the program. That's about a 70% washout. So, be very careful, ask a lot of questions, and do your research. If it was such a great deal to be a Farmers agent, there would not be such a high dropout ratio. Also, ask the other Farmers agents you talk to how competitve Farmers rates are in your area. If they are not competitive, you will find yourself in a miserable situation 1 year down the road. Just my two cents. Right now, Farmers is in a cycle of not being competitive in many states, so it may not be the best time to start with them if you find this is the case in your area. Good luck in your research. BTW, I would stay away from Allstate. They pay the lowest commission in the business.
Good grief. do a search on this site and see what others are saying about SF and Farmers. It ain't good and it ain't easy, and the money sucks for lots of years, and then it still sucks, but not as bad.
------------------------------------
Chuck
If you think your boss is stupid, remember: you wouldn't have a job if he was any smarter.”
I am with Farmers for little over 20 month now. My district has 99% turnover since I started. Everyone (included the DM) has another full time job. It seem to me they just hire anyone that walks in. There is very little training and almost no support. Good luck.
Farmers has a new contract for the new agents I am told and it does not allow outside carriers to be sold. Many of the Farmers agents I know make their real living selling outside commercial and other stuff Farmers can't offer. In the past, if Farmers can't cover it you can sell other carriers.
I hit all the goals, won the trophies, and still starved and was going to starve and go broke before it would pencil out, so I quit, paid back the subsidy and went indy. I am sooo glad I did before I got too far in to quit.
If you can't write commercial think twice, you will work your tail off on auto and not make much, commercial is where you can make your folio leap into big numbers quickly. Not many agents within your own district will want to share ideas, that's why this forum is great, agents not competing with you will tell you everything and anything you want to know.
Farmers is a great company and most all of our agents are making really great money, unlike most of the independents in our market so there's something to be said for that. We have a lot of agents but that has turned out to be a good thing, more brand recognition. If you can make it you will, if you can't you won't regardless of what your shingle says over the door.
I'm beginning my 3rd quarter as a Farmers Career agent. Farmers is a fine company, but I would caution you to check out how competitive they are in the area where you want to establish your office. If you are in a rural area or a high fire protection class code area, you will find that you have a very limited market. If you are in a large city, things will probably work out okay. I've spent about $2500.00 on study materials, licenses, exams, etc. About the subsidy, the $1500 is only for the first 6 months, after that you will probably be on a program where the company will match your commissions after the first $500.00, for most career agents I know the result is much less than the original $1500.00. You will not be able to contract out on products that Farmers does not offer and there are many such as farmers will not insure; farms, churchs (except thru Kraft Lake), any storage facilities if they have outdoor parking for recreational units such as RV's, boats, etc., homes that have a business operating out of them, trucks that travel more than 500 miles out, they do not sell general liability insurance except as part of a BOP, and you cannot sell a juvie life policy unless the parents are also insured. On the other hand, where else can you get an interest free business loan? As others have said, training will depend on the experience and willingness your DM. Good luck.
Re: Anyone here with Farmers?
In fact I know a few guys who are either captive or with broker dealers who get around selling away by having a wife who is licensed.
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