Originally Posted by Newby
#1 - Forethought's street level commission is 110% first year and 10% renewals. Shenandoah's is 105%.
#2 - An FMO
make a real good cut when agents sign up at those rates. What are you going to offer to get an agent to take an cut out of their pockets?
#3 - Is there an immediate release anytime the agent requests?
1) Depends on who is offering and who is looking. We provide marketing support and hand holding for those that need it. I am not concerned what others offer - we have a program for an agent one day in the biz - or - 50 years . . .
2) We offer daily training and motivation for those that seek it. An agent's Team Leader is there to help them close sales, answer questions - whatever is needed for those that put forth the effort and seek guidance.
3) Here's my take on this - I'll release anyone that either personally signs a collateral agreement for any future debt - or - that has their new FMO
assume the debt. Otherwise - it's 6 months. We only advance 6 months anyway, but I'm not getting burned by any agent that writes bad business and decides to haul ass . . .
I don't envision very many independent agents going on our 100% plan. Seems that 2 out of 3 agents that are responding are opting for the Team Matrix program. The difference in earnings are like night and day. But - we'll offer both and the agent can choose.
The Team Matrix is nice because you don't have to rely solely on your own sales efforts to create a decent revenue stream. An agent can build a Team whether they recruit 10 agents or 0 agents - this is why we chose the Team Matrix for our Compensation Plan - the strong help the weak . . .
In addition - Since we are offering just one product type - the learning curve is simple and anyone with the desire can do it AND show others how to do it.
Our target agent is someone looking to supplement their existing income with insurance sales and team over-rides. We seek the Teacher that wants to close 2 deals on the weekend, or the secretary that wants to close 1 or 2 personal deals a month and build a Team of 20 or 30 like minded agents and make an extra $20k - $30k a year!
By having a "Team" - the only limit to one's earning ability is their imagination - or lack thereof . . .