Marketing Idea and Advice for New Agent

[aubbieone]

Great forum with tons of good info, thanks to all. I am in mortgage industry B2B sales for past 15 years. 40 yrs old wife and 2 kids and thinking of starting new career, very scary. Seriously considering becoming an agent, I understand it will be extremely tough. If anyone can assist with a question or two and thoughts on an idea I have.

Question 1: Which company will give me best opportunity to start from scratch, I have very small "natural" market. I do understand much of it has to do with the actual Agency itself and management but, that aside, pound for pound would YOU advise your son or daughter work for NYL, MassMutual, Metlife, Northwestern Mutual, or I am hearing Guardian also?

Question 2: When interviewing what metrics can I request for that particular office to give me insight on the success of that office. My mind set is that I am not very likely to figure out if someone is good manager just from interview as they will be putting best face forward for me, however it seems logical that an agency/office with good numbers would seem to have good management? What #'s do I need to look at to best judge the success of office?

My Idea....not sure if this sounds crazy or not. Since my natural market is small and have always entertained the thought of having a hot dog cart. Wonder if a hot dog cart where I can pass out my information and give advice and instruction at the same time....tons of stuff you could do marketing wise, also get probably a good mix of society and clients, everyone would be potential lead basically. Does this sound insane?

Thanks

 

[briko3]

I don't have much to add except this: Would you buy your family's insurance from a hotdog cart? Who do you think would? Would you want them as your client?

 

[WinoBlues]

Yes I would recommend my son start at NYL. For the training. Not as a life long home.

The Hot Dog cart would be an interesting idea as a way to get known in a particular area. Sponsor 25c hotdogs at kids soccer games. Or charity golf turny. Or school fund raisers.

"would you like a term policy with that Brat?" Not so much.

I don't have much to add except this: Would you buy your family's insurance from a hotdog cart? Who do you think would? Would you want them as your client?

 

[moonlightandmargaritas]

Which company will give me best opportunity to start from scratch, I have very small "natural" market.

Without a substantial "natural market", it's gonna be a long, tough row to hoe - with any of 'em.

 

[VolAgent]

I think you'll find it a hard go with any of them with a small or weak natural market. See how they are willing to help you develop a marketing plan. Although, honestly it will ultimately fall to you to develop your own marketing plan. Also, any of them are good places to start, although I would probably steer clear of NWM. Their brand of kool-aid is particularly strong.

As to finding out about the office, I would suggest taking some of the new agents out to lunch. Take them out individually and see if you can get them to spill their guts, give you the good, the ugly and the bad. Talking to them inside the office won't be as effective, if there is anything negative, they will probably be afraid to share. You should focus on how they perceive management, and what kind of sales numbers the new agents are posting.

 

[WinoBlues]

One more thing.

Orphans. Ask if you will have access to current clients or a book of business to work.

 

[Norwayguy]

Great forum with tons of good info, thanks to all. I am in mortgage industry B2B sales for past 15 years. 40 yrs old wife and 2 kids and thinking of starting new career, very scary. Seriously considering becoming an agent, I understand it will be extremely tough. If anyone can assist with a question or two and thoughts on an idea I have.

Question 1: Which company will give me best opportunity to start from scratch, I have very small "natural" market. I do understand much of it has to do with the actual Agency itself and management but, that aside, pound for pound would YOU advise your son or daughter work for NYL, MassMutual, Metlife, Northwestern Mutual, or I am hearing Guardian also?

Question 2: When interviewing what metrics can I request for that particular office to give me insight on the success of that office. My mind set is that I am not very likely to figure out if someone is good manager just from interview as they will be putting best face forward for me, however it seems logical that an agency/office with good numbers would seem to have good management? What #'s do I need to look at to best judge the success of office?

My Idea....not sure if this sounds crazy or not. Since my natural market is small and have always entertained the thought of having a hot dog cart. Wonder if a hot dog cart where I can pass out my information and give advice and instruction at the same time....tons of stuff you could do marketing wise, also get probably a good mix of society and clients, everyone would be potential lead basically. Does this sound insane?

Thanks

The manager is really important as well as would there be veteran agents to help mentor / split cases with. Each of the carriers you mentioned can be good but each office can be very different based on the local manager when I was with NYL my manager didn't have time to help me he was trying to get agents he was bringing onboard to be able to pass the exam. He ended up leaving the office the same week I did.

Also most of these companies have you start of with your natural market...In the mortgage business did you have repeat customers? Did they trust you? Do you still have their contact info? these people have bought from you in the past and may be willing to listen to you again. Also I am assuming you have friends/coworkers that are still in the mortgage business you might be able to get new homeowners leads from them. Many ideas.

 

[VolAgent]

Also most of these companies have you start of with your natural market...In the mortgage business did you have repeat customers? Did they trust you? Do you still have their contact info? these people have bought from you in the past and may be willing to listen to you again. Also I am assuming you have friends/coworkers that are still in the mortgage business you might be able to get new homeowners leads from them. Many ideas.

I didn't really read about your past career, but Norwayguy is right. If you spent 15 successful years in the mortgage business, you should have a good natural market. Assuming you did a good job for them, all your past clients should be an easy call, and some of them should do business with you. Also, all your former co-workers, peers, and associated people are potential clients. Think of all the realtors you use to call on, the wholesalers that use to call on you, printers, etc.

 

[Tampa Bay Rep]

One other thing you might want to consider especially if you are going to be working your own warm market is what does the captive agency have to offer you in exchange for lower commissions and not being allowed to sell other insurance carrier products. If you can get a nice salary plus commission at the captive agency that would good but would you make more with higher commissions and more carrier options as an independent agent? Plus if you are looking go with a captive agency for training you have to find out if the manager at the office you would be working at offers the kind of training you are looking for.

 

[aubbieone]

Good advice so far,thank you.
As far as my past clients, I worked as a wholesale rep for a bank and worked out of my house. I do have about 50 or so previous customers but since it was wholesale, I dealt with the broker not the actual borrowers. I will need to come up with some more ideas for my natural market, I will just really need to try and focus on referrals from this natural market to try and grow.