New to the Business

[Clivedon]

Just getting started in the business and have a few questions I am hoping people can help me with. I am in eastern Massachusetts and transitioning after 25 years in the mortgage business as both an originator and branch manager.

What are the pros and cons of mortgage protection and FE?

Is it possible to find a situation that offers the opportunity to do both with decent training on both?

If you had to choose just one which would you suggest at my age (59) and background?

Has anyone here made the transition from mortgages?

What is fair compensation? The one company I spoke to said 70% for FE but did not do mortgage protection?

The toughest question, are there any companies you can suggest that I speak to?

Thank you for any help you can offer.

Clive

 

[HoosierLife]

Go to FEXcontracting.com and read up before you make any decision.

 

[Clivedon]

Thank you, I appreciate the info.

Clive

 

[yammy]

Clive Your chances of success are limited in the fe mkt unless you get some real 1-2 month hand holding. I'm not talking friday morning meetings. I'm talking somebody who can spend weeks with you and teach you everything from how to handle leads to knowing 5-7 co's inside and out.Most of the successful guys on here had hand holding when they started out. If you can get 80-90% commission and hand holding for 6 months its worth it. Then when you're selling well and know everything from setting appointments to field underwriting to presentations then you can hunt 110-120% contracts.No question some can jump right in but most need hand holding.

 

[Clivedon]

Thanks Yammy, appreciate the info

 

[mmike160]

Go check out finalexpense101.com

 

[rousemark]

Clive: What Yammy has to say appears to make sense... but, more often than not there is a fly in that ointment. You sign on at 80% to get the hand holding.. You upline signs you up with every company they can.. Then, "when you're selling well and know everything from setting appointments to field underwriting to presentations" and you begin to "hunt 110-120% contracts" you are locked in becasue your upline will not release you. You find you are trapped.. you can't go to the folks who will give you the higher commissions becasue you have to sit out without selling with your favorite companies for 6 months or a year so you can switch uplines.

You know the saying, "Beware of Greeks bearing gifts"?.. It doesn't just apply to Trojan Horses.

 

[jdeasy]

Clive Your chances of success are limited in the fe mkt unless you get some real 1-2 month hand holding. I'm not talking friday morning meetings. I'm talking somebody who can spend weeks with you and teach you everything from how to handle leads to knowing 5-7 co's inside and out.Most of the successful guys on here had hand holding when they started out. If you can get 80-90% commission and hand holding for 6 months its worth it. Then when you're selling well and know everything from setting appointments to field underwriting to presentations then you can hunt 110-120% contracts.No question some can jump right in but most need hand holding.

That's nonsense. I didn't have that kind of handholding and I know of no other successful FE agent that did need that.

That's simply marketer talk.

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Just getting started in the business and have a few questions I am hoping people can help me with. I am in eastern Massachusetts and transitioning after 25 years in the mortgage business as both an originator and branch manager.

What are the pros and cons of mortgage protection and FE?

Is it possible to find a situation that offers the opportunity to do both with decent training on both?

If you had to choose just one which would you suggest at my age (59) and background?

Has anyone here made the transition from mortgages?

What is fair compensation? The one company I spoke to said 70% for FE but did not do mortgage protection?

The toughest question, are there any companies you can suggest that I speak to?

Thank you for any help you can offer.

Clive

Very few IMO's can serve the MP market and the FE market. Hell, very few can serve either one.

The 70% you were told is just flat out thievery.

MP and FE are two completely different markets. I've done both successfully but not at the same time. I focus on FE because I prefer that market and the leads are more readily available and I get to work in the daytime.

As someone else mentioned, go to fexcontracting.com and just read stuff there before making a decision.

Beware of anything said to you by a marketer. If you find an IMO you like, talk to agents that are with that IMO. Don't listen to any stories from any IMO about their "top agents". Every IMO, even the bad ones, have an agent or two that's killing it.

Ask about releases in the beginning. If the IMO doesn't want to talk about release then avoid them like the plague.

This is a very rewarding business for those that can do it. For the ones that can't, it's a miserable year out of their life before they move on to something else.

 

[yammy]

Jd you're full of smoke buddy. If you're so dang smart why were you at efes for 3 yrs are so? There were 130% contracts back in 2007.Why didn't you see the light? You saw the light no doubt as i'm sure your partners at fex have you on some fat 130% plus contracts while the rest of the fex boyz are at street level slaving away so the heirachy makes a fat 30% plus for doing Friday morning calls and some rah rah. If someone doesn't have the money for leads how do you expect them to learn?Maybe they have to bite the bullet at 55% with a senior benefit for free leads to learn. Maybe santa clause newby will give them 90% and free leads.

 

[jdeasy]

Jd you're full of smoke buddy. If you're so dang smart why were you at efes for 3 yrs are so? There were 130% contracts back in 2007.Why didn't you see the light? You saw the light no doubt as i'm sure your partners at fex have you on some fat 130% plus contracts while the rest of the fex boyz are at street level slaving away so the heirachy makes a fat 30% plus for doing Friday morning calls and some rah rah. If someone doesn't have the money for leads how do you expect them to learn?Maybe they have to bite the bullet at 55% with a senior benefit for free leads to learn. Maybe santa clause newby will give them 90% and free leads.

I was at EFES for 5 years. I was on 100% contracts and $11 leads. Worked for me. I would still be there had Travis not started FEX.

You show your ignorance about EFES just as you show your ignorance about FEX. I agree they are my partners in the business but not in the way that you imply.

Nor am I on any higher contract than anyone else at FEX. I don't know what contracts others are on through FEX but I would bet you anything you are willing to bet that your numbers are wrong.

You are just another FO marketer that hides behind a screen name while lobbing lies at some of few truly good IMO's out there.