High Contract Levels Vs Large Spread

[solinor]

I stand corrected. You sound like someone that doesn't understand that 110% is a bit higher than 75%. Many recruiters make that mistake as well and many agents get screwed in the meantime.

If you get a 130% contract and offer agents 90-100% at least you won't be cheating them like you're being cheated.

You might look into Primerica. You would be perfect.

Rick

I'd rather start at 60% in the beginning and retire from the field in 2-3 years like my 2 uplines on six figure residual income just from their agency outside of their own pen. Just what I believe personally but some people would rather produce for the rest of their lives. Just takes an extra special person to do what my two uplines did, that's all.

 

[Gooner]

I'd rather start at 60% in the beginning and retire from the field in 2-3 years like my 2 uplines on six figure residual income just from their agency outside of their own pen. Just what I believe personally but some people would rather produce for the rest of their lives. Just takes an extra special person to do what my two uplines did, that's all.

Good luck with that!

 

[Newby]

Must we resort to personal attacks when all I'm trying to do is start a discussion? I've been averaging 15-20k per month for the past 6 months since I started in insurance and about to hit 75% contract. I'm doing pretty well for myself, just wondering why a lot of agents on here are so much against a system that rewards you with more/higher overrides compared to a system where you get a higher commission based on personal production. If you can tough it out the first year, I'd rather retire from the field than have to produce forever. This is all I'm saying.

Think about the math. If you sold $15,000 a month and you're giving up that much of your contract you're giving your middleman $5-$6000 per month of your money. So you could easily put away the extra $50,000 every year toward your retirement. That money would have zero risk of bad agent debt rolling up to it. Plus you will be making at least twice as much renewal income which would also help contribute to your retirement.

With your plan you have to find agents who actually will get out and sell but won't get on the Internet and realize that there it low contract levels. Even though they're not the sharpest individuals that research what they do for a living they have to be people who manage your money well or else they will have chargeback debt that rolls up to you that you have to pay off.

And you're going to need about 10 of these unicorns selling at least $100,000 per year each in order for you to have a comfortable retirement because you're only going to have at most a 5 to 10 point spread on them.

I'm not trying to argue with you or insult you. I'm telling you the same thing your mother would tell you if she understood this business. Your brain has some poison in it right now that was done at one of those recruiter meetings. The sooner you run the math and really think about this business from every angle and make your own decisions the better off you're going to be rather than blindly following bad advice.

 

[senior-advisor-indiana]

It's pretty obvious you're arguing with someone who hasn't sold 10 policies in his lifetime. Why bother?

Rick

I haven't even posted yet so I don't know who you are talking about...

 

[rousemark]

Must we resort to personal attacks when all I'm trying to do is start a discussion? I've been averaging 15-20k per month for the past 6 months since I started in insurance and about to hit 75% contract. I'm doing pretty well for myself, just wondering why a lot of agents on here are so much against a system that rewards you with more/higher overrides compared to a system where you get a higher commission based on personal production. If you can tough it out the first year, I'd rather retire from the field than have to produce forever. This is all I'm saying.

You are giving up 5K - 10K per month in first year commissions, not to mention renewals in order to do something that you can do anywhere? If it is worth $120K per year, based on what you claim for production, out of your pocket so your upline can "retire", they must be really, really good sales people because they have sold you a bill of goods, along with the Brooklyn Bridge and Oceanfront Property in Arizona ..

Higher Commission means higher overrides. IMOs will give you top contracts based upon production.. They don't care if it comes from personal production or down line production.