Bringing in New Agents

[VolAgent]

This is what I was thinking.... but what's a good starting figure?

Or you can ignore the good advice you were given...

I'm serious. Do yourself a favor. Unless this is going to be the first of many agents you bring on, don't do it. One agent is always more trouble than its worth. If she is the only one you plan on anytime soon, have her contract under your IMO. If you want, even get something in writing that she transfers to you if you change your mind later.

A single agent will cost you more in lost production than you'll ever make in overrides.

Now if you're planning on building a team, please ignore what I said and my deepest apologies.

 

[Chazm]

sent you a pm...by the way your avatar is very professional make that your business card you'll get plenty of business ..That's not you is it?

wE ArE verrY pRoffessIonaL in thESe PaRTz

 

[Mark]

If you are going to recruit, go after agents that have been in the business for a while and avoid new agents.

 

[Josh]

This is what I was thinking.... but what's a good starting figure?

This is how I'd lay it out to her:

If street is 20%, tell her that's what street is. You shouldn't be helping and/or training her for less than a 5% override. That being said, Frank will give her good contracts and training if she buys his software. If she knows what other folks will contract her at and what she can get from them vs what she gets from you, then move forward. For less than 25% of the action, you're much better off just focusing on your own sales. It's also entirely possible that this is not a good situation for you, so I'd keep an open mind about that.

 

[Josh]

The split would be at the carrier level, so just contract her at the levels you and her want her at, i.e., have MoO contract her at 15% or 10% (I'm not sure if they'll allow that), but that makes it easy enough.

The 60/40 in your favor is entirely too high (unless you're going to be providing an office, internet/direct mail/telemarketed leads, killer training, etc. My guess is 25/75 is a more reasonable split, especially on life.

Again, you might very well end up regretting contracting her and in fact, that's the most likely scenario (without knowing more about the relationship the two of you have).

 

[The Rabbi]

If you are going to recruit, go after agents that have been in the business for a while and avoid new agents.

Why would experienced agents go with her?

 

[senior-advisor-indiana]

Why would experienced agents go with her?

You must have missed her profile pic...