I have been an agent independent agent for about 5 months and I am starting to grow. My question is how big is big enough? Of course it depends on the product sold and the commission. I am selling Medicare sups, Medicare advantage, and some individual health, small business, dental, and will be offering life in the coming months. How many clients can one agent handle and still offer quality service? How many does it take to surpass the $100K mark? How large is your active book? and how what income bracket are you in? Thanks in advance for your info!!
How Big Does My Book of Business Need to Be?
- Thread starter astreeter
- Start date
- 582
A good goal to try to hit is $1,000,000 AP in 3 yrs. You know what your commish is, you can do the math...
- 8,707
Very right about it depends on the product...Med Supp has very little service work....MA more so combine that will the first year and renewal year commissions and what does that tell you.
- 415
AS BIG as you can get it! And keep hiring people to deal with the service work...and you can go CRAZY like ME!
Justwastingtime
Expert
- 28
I believe a good goal should be 250 applications/policies a year for 2 to 5 years. Those should be balanced between 100 Life, 100 MS/MA, and 50 complimentary/incidental. Some advice I have received from top earners is stay away from Individual Health if you want big renewals.
I am actively building an agency now with 12-15 agents, of which 5-6 are active weekly and that is what I explain to them. What income you earn depends on the commission level you are at now (I had to start at the bottom with a company first) with the companies, the amount of annual premium you write (on average), and the retention of the policyholders.
I would advise that the first thing you learn is how to get them. The second would be to work them for referrals, that helps with retention. Then hire someone to send them a birthday card. No matter what if you are not able to get them then you will be out of business anyway!
My business is diversified like this and I have a terrific renewal stream now, earning $100k a year. I have about 500 MS/MA, 300 FE, and 20 Complimentary policies renewing now. Because the first company I worked for didn't teach how to become a high earner or how to create an income stream, I didn't focus on the above example that I gave you. Maybe you won't have to spend 36 months like I did and have to start all over again (not whining). You have to be a go getter first and foremost or someone else will sell them before you do, so don't wait for it to happen, make it happen!
I am actively building an agency now with 12-15 agents, of which 5-6 are active weekly and that is what I explain to them. What income you earn depends on the commission level you are at now (I had to start at the bottom with a company first) with the companies, the amount of annual premium you write (on average), and the retention of the policyholders.
I would advise that the first thing you learn is how to get them. The second would be to work them for referrals, that helps with retention. Then hire someone to send them a birthday card. No matter what if you are not able to get them then you will be out of business anyway!
My business is diversified like this and I have a terrific renewal stream now, earning $100k a year. I have about 500 MS/MA, 300 FE, and 20 Complimentary policies renewing now. Because the first company I worked for didn't teach how to become a high earner or how to create an income stream, I didn't focus on the above example that I gave you. Maybe you won't have to spend 36 months like I did and have to start all over again (not whining). You have to be a go getter first and foremost or someone else will sell them before you do, so don't wait for it to happen, make it happen!
- Thread starter
- #6
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