Is the Farmers Agency Program a Good Way to Start?

[popeye35]

Okay, so I have been selling insurance for State Farm for 2 years now and I am good at it. I am not great, but I am good. I work for an owning agent, so I am just an employed producer.

So I was contacted by Farmers about becoming a Farmers agent. I have been planning on owning my own agency for a while but have not had the necessary start-up to do it with State Farm (they require that you start with an actual office and with a hired staff).

Farmers seems like they ease you into it by letting you start by selling from the district office and providing you with some leads (I will still have to genereate some of my own leads, which I'm not worried about). This sounds good, but I would like to hear from you all with experience.

 

[PRColorado]

I was in the same position as you... I have worked for a State Farm agent for the last 7 years - fully licensed, sales & service.
There is a lot of feedback on this site - much of it will trash Farmers. I would take it with a grain of salt, and do your homework.
I quite my job with the SF agent 2 weeks ago and became a Reserve Agent with Farmers. Farmers' systems are definitely more high-tech than SF. Everyone told me that getting the right DM is key. I began looking into this in November, and finally made the move the end of April.
I have a plan in place to replace the income I was previously making for 6 months. Starting to build a book as commission-only will be challenging -- but it was time to give it a try! I had no opportunity for growth, and no possibility for increased salary with the SF agent.
I'm also friends with a Farmers agent that worked for a SF agent for many years. She is working hard, but very pleased that she made the move.
I would be happy to keep in touch, and let you know how it goes!

 

[popeye35]

I was in the same position as you... I have worked for a State Farm agent for the last 7 years - fully licensed, sales & service.
There is a lot of feedback on this site - much of it will trash Farmers. I would take it with a grain of salt, and do your homework.
I quite my job with the SF agent 2 weeks ago and became a Reserve Agent with Farmers. Farmers' systems are definitely more high-tech than SF. Everyone told me that getting the right DM is key. I began looking into this in November, and finally made the move the end of April.
I have a plan in place to replace the income I was previously making for 6 months. Starting to build a book as commission-only will be challenging -- but it was time to give it a try! I had no opportunity for growth, and no possibility for increased salary with the SF agent.
I'm also friends with a Farmers agent that worked for a SF agent for many years. She is working hard, but very pleased that she made the move.
I would be happy to keep in touch, and let you know how it goes!

Hey, I really appreciate the info. What things did you look for when talking to a DM? I have 2 separate DM's that I am talking to right now. I know that a lot of the trashing comes from the fact that Farmers pays less commissions than if you are independent, but I don't have the start up funds to become independent right now for myself and I am having trouble finding an independent agency to get on with that will give me the opportunity to buy out my book of business later down the road.

You are right about the SF agent situation. I'm getting salary plus commission and the best he ever talks about is possibly giving raises like 3 years down the road. I also don't like building someone else's book of business.

I would love to stay in touch with you so we can bounce things off each other. I'm not sure if we are allowed to put emails on here, and I know that you can't private message until you have 20 posts. I will check back and when both of us have 20 posts I will send you my email in a private message. Thanks again for the advice!

 

[pmontanez]

Hi there, nice to see different people in same position.. My story is about the same .. 7 years as an Allstate producer.. Wrote more than 5 millions on the last 5 years.. my boss is happily showing up maybe two or three times at year... Time to move on and start building up my own BOB... Any suggestion .. How is the process with farmers.. Any contact info that you my share ?

 

[PRColorado]

Yesterday marked my one month with Farmers - and I could not be happier! Things are starting to take off, and I am busy! The district DM and trainer/admin is extremely helpful; the other agents are all willing to help me as the newbie; everyone here is very professional and the systems far surpass SF's systems.
I took a leap of faith to start my own business, but I could not be happier! Go for it!!!!!
- - - - - - - - - - - - - - - - - -
I tried to send both of you a private message with my contact info... forum would not let me.
feel free to contact me via this forum for now - maybe we can figure out how to share our email addresses?

 

[Thane]

Yesterday marked my one month with Farmers - and I could not be happier! Things are starting to take off, and I am busy! The district DM and trainer/admin is extremely helpful; the other agents are all willing to help me as the newbie; everyone here is very professional and the systems far surpass SF's systems.
I took a leap of faith to start my own business, but I could not be happier! Go for it!!!!!

You seem to be successful because of your past experience with SF. How much success (potential learning curve) do you imagine a newbie would experience with the Farmers system?

 

[Suis]

Can you tell us exactly what Farmers is doing for you and what they expect from you? Will you have to get your own office? Any money investment? Work hours? Can you earn money right away? How did you begin the process? Please tell us all you can - maybe we should check it out, too? Thanks!

 

[patch36]

Yeah, they are very helpful because they know than most new agents fail and they get to keep your BOB. That is how they build their BOB.

Experienced Farmers agents are leaving in droves. Rate increases and the BS have worn them down. They do NOT own their BOB and do not sell it or take it with them.

Post your success story after a year or two and tell us how your run to daylight is going.

 

[moonlightandmargaritas]

Experienced Farmers agents are leaving in droves.

State Farm and Allstate are the major leagues. Farmer's is the minor leagues...

 

[patch36]

State Farm and Allstate are the major leagues. Farmer's is the minor leagues...

I suppose there is some wisdom in that statement, but they all suck and they all stack the deck in their favor with the new contracts. I have had Farmers and Allstate contracts. I never pursued State Farm, but I did stay in a Hilton last night.