Proof of Production for Contract Levels

[wealth2u]

I see proof of production discussed a lot as far as contract levels go. How exactly does one show proof of production if their business is spread over several different companies?

And what amount of production would normally qualify for a bump above normal street level? (I know each company is different and every IMO's idea of street level may be different). Would $100,000 or $150,000 or $200,000 qualify?

 

[Thedude]

I see proof of production discussed a lot as far as contract levels go. How exactly does one show proof of production if their business is spread over several different companies?

And what amount of production would normally qualify for a bump above normal street level? (I know each company is different and every IMO's idea of street level may be different). Would $100,000 or $150,000 or $200,000 qualify?

This is where everyone seems to go quiet. I'm in for answers myself.

 

[bboman23]

This is where everyone seems to go quiet. I'm in for answers myself.

On vacation...don't have it in front of me. Have no problem answering when I'm home.

Americo is 100k to move to 120 and 200 to move to 125 I think. That's ultra protector. Eagle is 10% higher.

RNA you sign a RVP form of 250k for a 125

 

[Thedude]

On vacation...don't have it in front of me. Have no problem answering when I'm home.

Americo is 100k to move to 120 and 200 to move to 125 I think. That's ultra protector. Eagle is 10% higher.

RNA you sign a RVP form of 250k for a 125

sweet thanks Ben.

 

[Tothetop]

On vacation...don't have it in front of me. Have no problem answering when I'm home.

Americo is 100k to move to 120 and 200 to move to 125 I think. That's ultra protector. Eagle is 10% higher.

RNA you sign a RVP form of 250k for a 125

This is true transparency. Posting comp levels you consider street is not that transparent. Telling an agent what it takes to get the most commission they can possibly get is truly transparent. Too many IMO's and BGA's do the "show me what you got and then we can talk about bumping your contract." A comp grid with street and the level of production it takes to get bumps with the max you can earn with each company is truly transparent.

I have had only two BGA's out of the five I interviewed when I went indy do this. That's a problem.

 

[Baseball7]

Your talking 100k production with Americo? Or Spread out business? Then don't some require min. levels to maintain said levels?

 

[bboman23]

Your talking 100k production with Americo? Or Spread out business? Then don't some require min. levels to maintain said levels?

Total production the previous year with all companies.

 

[Newby]

This could actually be a very good thing for everyone. I have always thought this would be a better industry if every agent had automatic commission levels and everyone started at the same spot and got automatic increases based on their actual production. If the companies did that it would be completely fair. But they never will.

But if Ben will put a grid together with company requirements for the companies that have them and similar requirements for the companies that don't it could really become an industry standard or at least for all the guys recruiting on this forum.

That would be a very good thing for agents and IMOs alike.

It is huge that agents now know where the starting point is. But it will also be huge for agents to know exactly where the next level is for them.

Good stuff!

 

[HoosierDaddy]

This is true transparency. Posting comp levels you consider street is not that transparent. Telling an agent what it takes to get the most commission they can possibly get is truly transparent. Too many IMO's and BGA's do the "show me what you got and then we can talk about bumping your contract." A comp grid with street and the level of production it takes to get bumps with the max you can earn with each company is truly transparent.

I have had only two BGA's out of the five I interviewed when I went indy do this. That's a problem.

True transparency begins when the recruiting agency publicly post minimum starting comp levels. I know FEX does this. The only reason marketing people would not make this public is to keep agents ignorant.

Most marketers do the same thing to agents, that agents do to FE prospects. They use minimum worded marketing of "hope and good fortune" in hopes to get an audience.

Transparency of comp levels is something I have done since joining this forum 10 years ago. At that time I was with EFES and I upset some of the recruiters at EFES by my unorthodox style of openly posting starting comp levels that turned out to be higher than many longtime agents under other Directors.

This is the fundamental problem with that business model structure.

Business Model
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These limitations are the reason why I left EFES and started FEX Contracting with Newby (Scott).

IMO these fundamental obstacles were the catalyst to recent changes over at 360. You cant fake it forever. You can only come on here so many times and "I will post how great you are, then you post how great I am" until someone feels slighted, or an agent wants to transfer, or maybe the overlord shows more favor to your marketing brother, that causes a blow up.

This is not a shot at anybody, I have worked within that model before and I understand the inherit obstacles.

TT

 

[Thedude]

does FEX have a structure for someone who wants to hire people? Or you mostly just hire agents. Like do you have production guidelines for groups?


I feel like all models within insurance have obstacles and the huge mistake most make is think that all these IMOs are hiring the same type of person.