How do FMOs/IMOs get paid based off your production if they pay you a 100% commission?

[Tahoe Ray]

This is wrong.

They may publish guidelines, but they can and do bend the rules for certain people.

Sure. But several carriers require a marketing plan (downline) and/or production requirements to get those contracts.

FE may be different but on the traditional side, it's pretty common.

 

[Loving Life]

Also, just being 100% here..

Most people would struggle for well over a year working as earned, even with a healthy marketing budget.

My IMO started out with wanting to run a credit check to put me advanced. At the time, I said no thank you. We came to terms because I opted to go as earned. After a year, I requested advanced because I have more expenses. They checked my book and since my persistency was solid just switched me over.

I guess the point I'm making is that the second that an IMO makes demands, I'm probably out. Anyone with half a shred of self-esteem, IMO, would do the same.

Travis, can you tell me if it was for personal reasons you did not want a credit check run in order to receive advances, or if for some reason it is a bad idea in general. I would not be offended if a carrier wanted to check my financials before advancing me, but can see where an unscrupulous IMO might try to size you up for available credit for other purposes/purchases.

 

[Travis Price]

Travis, can you tell me if it was for personal reasons you did not want a credit check run in order to receive advances, or if for some reason it is a bad idea in general.

I am an incredibly private person about my financials. It was 100% personal.

I also work for a federal program that can look at my medical records and gives the public my first and last name, and salary... which annoys me to no end.

 

[rousemark]

gives the public my first and last name, and salary... .

That is because the public is actually your employer..

 

[Life Agent John]

I feel the same way. My credit is very private. It's not just my score, but basically my financial life; loans, credit cards, etc...information no one needs access to except a mortgage lender, auto lender, etc...

While I understand advances are loans, I don't need an IMO knowing the details of my finances. I'd rather just go as-earned. With that said, I fully understand that's not realistic for most agents coming into the business.

With that said, I would hope an IMO looking at any new agent's credit would be able to tell the difference between poor credit because the agent has fallen on bad times, and an irresponsible agent.

 

[Todd King]

You never put your “ ass “ on the line and provided leads like Scott or Brad have done with Rgi. Your fe contracts are 1 offs without consistent leads .You mail yourself your looking at $40-$90 a lead .Rgi is the king of fe leads and any hardcore fe guy needs fixed cost leads .As far as I know you offer no mapd marketing $’s either ?Tell me again what you offer the top producer ?

Yes, they have done a lot for their captive agents. We don't do anything for ours because we have none. However, there are things we have done and do for our independent agents.

 

[Todd King]

This is wrong.

They may publish guidelines, but they can and do bend the rules for certain people.

So, you're saying that I'm wrong in certain circumstances, but mostly right in day to day stuff. Got it.[/QUOTE]

 

[jdeasy]

So, you're saying that I'm wrong in certain circumstances, but mostly right in day to day stuff. Got it.

[/QUOTE]


I'm saying you can't compete with FEX so you make up a story about FEX being captive.

FEX is is no way a captive organization.

 

[jdeasy]

Yes, they have done a lot for their captive agents. We don't do anything for ours because we have none. However, there are things we have done and do for our independent agents.

FEX doesn't have any captive agents.

 

[Fire]

Yes, they have done a lot for their captive agents. We don't do anything for ours because we have none. However, there are things we have done and do for our independent agents.

I’m calling bs Todd. I’ve been under Brad getting rgi leads for 5 straight yrs. Never once has he asked me about any outside contracts nor given a crap .Your making up lies because you won’t stick your neck out and back your agents with leads. Your setup is inferior and thats why these other fe IMO’s do much more business than you.