What are the best resources for an Independent Agency find new Agents? Looking to grow in Houston,TX. During preliminary chats, I get a lot of push back on 100% commission based salary structure. Trying to find the pool of folks that have less of an "employee/security" mentality.
How to Add New Agents to Independent Agency?
- Thread starter epitome
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You sound more like a startup to me.
What lines are you doing? P&C, you should plan to pay a salary + commission. Why would anyone help you build a startup on commission without ownership.
L&H......you offer nothing to an agent. Why would they take below street commission without a book of business to work?
You need to start over with a more realistic plan and more funding for you to consider adding agents to add to your business equity..
What lines are you doing? P&C, you should plan to pay a salary + commission. Why would anyone help you build a startup on commission without ownership.
L&H......you offer nothing to an agent. Why would they take below street commission without a book of business to work?
You need to start over with a more realistic plan and more funding for you to consider adding agents to add to your business equity..
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- #4
Although I have only been offering insurance products (P&C, life) for about 18 months now, what I have found in other businesses (tax prep especially) is that a straight salary compensation in a volume based business is great for the employee and risky for the owner. The Rep gets paid even when no one is walking in the doors. So I guess I'm looking for feedback on how to structure a base+commission system for P&C agents that is mutually beneficial and both encourages and rewards production activity.
Also to your "without ownership" point...Everyone doesn't want to be an owner. Some just want to make the most money possible without the responsibility of keeping the lights on or maintaining appointments or motivating a team. Great salesmanship does not equal management skills or business acumen.
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alwrightins
Expert
I had recently started for an independent in wny and my deal was 30k base with .25 off his commision percent 10-15% from new business. I also made am agreement that the book I build is mine and I will eventually move on my own in due time. The idea is he helps me get started and makes some money in the mean time granted I sell of coarse.
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alwrightins
Expert
I have a brother inlaw that is a member of a bni group and there is always 2 insurance members. One commercial and ine personal. One had si.ply atated they where looking for someone hungry and willing to learn and my brother in law recommended me since he k ew I was in the market for a job. People involved in networking grouos are trying to grow and always open to someone willing to help them via sell. I was lucky really. I have a BS in business and had a hard time still finding a job for months and this was presented to me since I came from a sales job prior.
Yep, They all want a salary+commission ....... Hard to find any that want 100% commission.
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