How Do Agent Sell Over 10K Per Week of FE?

[Minthill62]

I am new to the industry (8 months) and learn something every day. I am also new to this forum. I have read a lot of these discussions and the input is great. Thanks in advance. I have been selling Final Expense for about 8 months and it is steady but I hear about some people every week selling 10K or more in annual premium off of 20 fresh leads. How do they do this? Door knocking the neighbors of the current lead appointment? Getting a list? Any info would be helpful.

 

[AnonymousOne]

They don't.
Buy 20 leads per week and try selling 3-5k first.

 

[jdeasy]

I am new to the industry (8 months) and learn something every day. I am also new to this forum. I have read a lot of these discussions and the input is great. Thanks in advance. I have been selling Final Expense for about 8 months and it is steady but I hear about some people every week selling 10K or more in annual premium off of 20 fresh leads. How do they do this? Door knocking the neighbors of the current lead appointment? Getting a list? Any info would be helpful.

No one is hitting $10000 every week running 20 leads or even 30.

Most seasoned agents running 20 leads every week are doing $3000-4000 ap on average per week.

Will they hit the $10,000 for a week sometimes? Yes, but they won't average that. The ones you see talking about that are marketers with many agents. Probably one of them will hit $10,000 each week and they play that off like everyone is doing it.

 

[Rearden]

JD is right on the money.

3k to 4k off of 20-25 leads is a challenging yet attainable goal for an experienced final expense agent.

 

[AnonymousOne]

No one is hitting $10000 every week running 20 leads or even 30.

Mint, if your goal, expectation or need is 10k per week from your pen, this is not the business for you. It's an unreasonable expectation.
Don't worry, someone will follow up with this one guy or I know this one person.



And....if your speaking of putting 10k in your pocket in the beginning, you would need to write over $15k to cover chargebacks, not taken, lead cost, 75% advance.
If you are looking for someone to tell you it's possible, you will find it.

 

[indiana260]

The top few agents I know all wrote between 250-300 last year. The equals around 5-6k a week.

I did have one week that I wrote 10k. (and 51 other weeks that I fell short) The way I did was I had an abundance of DM leads in neighboring counties. I worked from 10am til dark (summer) everyday for 5 straight days.
Most of all the stars just have to line up. I show a guy 5k and he says that's it? Well how much is 25k. Then he signs up for 25. Still on the books.

You should shot for 10k a month. Then 20

 

[TDFnCali]

I would guess he was referring to making 10k/mo, as there are a few threads about that on here I believe. But if he is referring to making 10k/week, then try 60 leads/week & close about 25-30% of your leads.

TDF
Sent via my Verizon Samsung G4

 

[pcbinsurance]

They don't.
Buy 20 leads per week and try selling 3-5k first.
************************************
Hit 2K weekly (consistently) first before you aspire to 3-5K per week. If you hit 2K weekly after only 8 months, you're doing much better than the average first year agent (depending on your lead cost and commission level too of course).

 

[VolAgent]

The average insurance agent makes 40k or so a year. Let's assume that is net of expenses, but before taxes.

That is roughly 800 a week. If you do better than that after leads and other expenses, you are already ahead of the game.

First focus on being better than average, then move on to being exceptional.

 

[PA Bill]

First off, while I never wrote 10k in a week I rode with Senior Life's top agent here in Philly for two straight weeks a couple years ago. I personally witnessed him write 8k the first week and 12k the second ( 4-day weeks!). He told me as a new agent I should shoot for 3-5k ( like a previous poster suggested to you). That is because 10k is superstar level and it requires being the total package as an agent. Just like sports, a rookie usually just isn't experienced enough yet. Here is some of what he taught me.
To be a top producer, first look at the company you will sell for. ( he wrote exclusively for Senior Life). The two main things you want in a company are one, a company that can keep you in a steady supply of leads and two, a company that will take your business ( low rates are great but useless if underwriting is too restrictive to qualify). The typical FE client is not a retired Fortune 500 executive who still competes in triathalons. I would add that having an upline that can effectively train and mentor the new agent is crucial as well. Also, within reason ( 90% if you're paying for leads) don't get too caught up in commission rates as a new agent. A 135% contract won't help you much unless you know how to close the business. Worry about payouts after you have learned the ropes and have the financial cushion to do your own mailings and can absorb the inevitable bad return.
The other thing he stressed was the focus of your day. Focus on results- not activity or time spent in the field. You need to present, go to premium and ask for the business 6-8 times a day. This will make for a long day as he stressed the importance of what he called the golden hours (5-8 pm). Recruiters will sell you on the point that this is a daytime business only. Do not believe this. While you will sell during the day, a lot of your day will be spent setting up the golden hours. Seniors today are active and many times you will have to come back later. This is especially true where both spouses are still living. These are called double-headers and are your most lucrative sales ( 2 policies in one sit!) Don't waste time and burn expensive leads pitching one leggers. Also, the double headers are the sales that take you to upper production levels.
Warming up, mastering your presentation, and the ability to effectively handle objections are crucial as well but these aspects take time. Plain natural sales talent doesn't hurt either.
For now if you can consistently keep yourself in 25-30 leads a week, and have the drive and determination to get into 6-8 homes day and give full presentations, writing 3-5k is absolutely realistic. And like a previous poster noted, writing 10k a week every week of the year is not realistic either. These were good weeks for him (his best month was over 30k). I asked him how much he made in a year expecting this astronomical number but after lead and other expenses, lapses, etc. his net before taxes was in the 150k range. Still fabulous money ( in my opinion anyway) He does this working Mon- Thurs.- hitting his first door around 10 am and going strong through the golden hours. This guy didn't mess around.
In closing this is not an easy gig. There are no shortcuts or free lunches. He said to me once that the FE business quickly weeds out the weak and undeserving. Truer words were never spoken.


p.s.- I am not currently an agent or a recruiter for Senior Life. While I have extremely high regard for the man who trained me, I do not care about Senior Life, per se, one way or the other. While they fit the criteria above, other outfits do as well. So back off all you SL bashers as SL wasn't the point of my post. Happy Selling everyone!