IMHO, You Don't Deserve 120%

[indiana260]

The higher contracts for new agents may turn out to be a huge mistake for the imo.
If they get to many agents that flake out in six months leaving behind debt with no intention of paying it, the imo will suffer.

I understand all sides off the argument. Definitely see where agentguy5 could be upset. If I were him I would not be upset about his path to get to today but rather that he has massive production and has some bum that writes a policy a month making within 50 points of him.

I started with higher contracts but my situation is unique. I can say that I probably have spent more money and time in the field than most to get to the point I am at today. So the way I see it I have paid my dues.

 

[Mavrik]

Agent5Guy,

So you're against the free market? With all due respect to your level of experience, You sound a little like a home office libtard. Seems to me like insurance carriers and IMOs would pay out as little as they have to and would cut us out completely if they could figure out a way to do it based on your line of thinking.

And what about the upline I started under? Did he deserve the 50+ points he made on every one of my sales while he held back concepts that would have helped lower my costs instead of just ensuring his over ride? What about the fact that I barely kept my head above water with expenses because my upline kept me in the dark about ordering leads properly, cheated me by mixing B leads in with A leads in order to fulfill his guarantee of 20 per week while charging me full boat? During the contracting, my questions about the advance weren't answered clearly so I mistakenly took huge advances when my instincts told me it was a bad idea.

Then the sales pitch I got about how I was just scratching the surface with my own production was the tell tale sign I was in a bad situation. I was told that by building a team under me I could experience the 8th wonder of the world. Then I was shown the exponential numbers of creating a down line. I was 3 months into FE and getting pitched on becoming a recruiter for my up line who was already keeping me in the dark about everything he could. Fortunately, I had been around the block with insurance recruiters and decided to join the pirate ship often discussed on here because they offer releases and more than they ever get in return.

 

[Jerard]

I have no chicken in this bucket but I can't imagine one person thinking he knows what another person deserves with regard to compensation. There can be varying circumstances. A person may be brand new in insurance but have 20 years in other sales. Hence he knows how to talk to people and he knows how to sell. I myself have never sold cars but I have 40 years experience in knowing how to talk to people. If I was to start working for the new Ford store I dang sure wouldn't take less on a sale than everyone else.

Some of you may have heard of The Peter Principle in that, as the theory goes, each of us rises to his (or her) own level of incompetence. I'm not sure how this relates to my first paragraph but for some reason it came to mind.

 

[SevenDeuce]

So a person deserves less than 100% of his own efforts? That's just theft. Plain and simple.

 

[captain94]

So a person deserves less than 100% of his own efforts? That's just theft. Plain and simple.

The flip side of this is the risk the IMO takes on agents not established in FE. To many. I when I say to many I mean 70-80% of them get in because they think it's easy money. They write 20k realize it's not what they thought. They split. Half the business falls off and now the IMO is holding $8-$10k in bad debt they are chasing. It only takes 4-5 agents and bam your chasing $40k.
I just filed a law suite today on a bad agent with 5 more to come. That's theft. Not starting an agent on what they deserve based off production history.

 

[SevenDeuce]

The flip side of this is the risk the IMO takes on agents not established in FE. To many. I when I say to many I mean 70-80% of them get in because they think it's easy money. They write 20k realize it's not what they thought. They split. Half the business falls off and now the IMO is holding $8-$10k in bad debt they are chasing. It only takes 4-5 agents and bam your chasing $40k.
I just filed a law suite today on a bad agent with 5 more to come. That's theft. Not starting an agent on what they deserve based off production history.

Well, not helping your Agents causes a lot of headaches. But that "past performance" statement is complete BS. Utter BS.

In this business you have to produce every year, day in, day out. Your past only pays you a little bit. So you may write $50K one year, $250K the next. You're only as good as you work.

Agents leave because the uplines don't support or train, or in most cases, both and rob you of 100% of your efforts.

Pay your people, train them and they will stay. If they have business falling off the books, that's your job to help them figure it out and chase the repayment by writing more business. The biggest problems with charge backs is that the carriers take the whole year away, they don't prorate it for the months that was paid. that hurts, alot.

 

[captain94]

Well, not helping your Agents causes a lot of headaches. But that "past performance" statement is complete BS. Utter BS. In this business you have to produce every year, day in, day out. Your past only pays you a little bit. So you may write $50K one year, $250K the next. You're only as good as you work. Agents leave because the uplines don't support or train, or in most cases, both and rob you of 100% of your efforts. Pay your people, train them and they will stay. If they have business falling off the books, that's your job to help them figure it out and chase the repayment by writing more business. The biggest problems with charge backs is that the carriers take the whole year away, they don't prorate it for the months that was paid. that hurts, alot.

I spend a lot of time training I fly to areas and do bootcamps and I have a policy preservation dept. So what your saying is BS. A lot of agents either get sold that this is easy work 10 hours a week by a bad IMO or just plain won't work if a agent wants high contracts they have to prove they are worth the risk. If they can't they can chose a different IMO but I will no longer take that risk. If they prove it they can have it. Simple as that. But most can't prove it.

 

[SevenDeuce]

I spend a lot of time training I fly to areas and do bootcamps and I have a policy preservation dept. So what your saying is BS. A lot of agents either get sold that this is easy work 10 hours a week by a bad IMO or just plain won't work if a agent wants high contracts they have to prove they are worth the risk. If they can't they can chose a different IMO but I will no longer take that risk. If they prove it they can have it. Simple as that. But most can't prove it.

The question is "can You prove it"?
So sick and tired of IMO's that say "prove it"
you get stuck with an upline that doesnt' know squat and is living off your over ride while you're sucking hind teet on leads and production and cut commissions because you "can't prove it"

Pay them, teach them, they'll stay. Give them quality leads. Don't treat them like a paycheck, they are people.

 

[captain94]

The question is "can You prove it"? So sick and tired of IMO's that say "prove it" you get stuck with an upline that doesnt' know squat and is living off your over ride while you're sucking hind teet on leads and production and cut commissions because you "can't prove it" Pay them, teach them, they'll stay. Give them quality leads. Don't treat them like a paycheck, they are people.

I don't treat them like a paycheck but the fact is IMOs are in business to make money. It sounds to me like you took the high contract little support offer and you are struggling. Had you taken a lower deal the IMO could do more for you. Are their IMOs who try and put agents on low contracts and give them nothing sure. But those get known. Hell just today I sent 20 leads to a agent no charge because she has been working hard and taking my advice and turning in business so great job here some free leads. And she had moved up to a higher contract. It's all relative I help the ones who help themselves.

 

[Gooner]

I spend a lot of time training I fly to areas and do bootcamps and I have a policy preservation dept. So what your saying is BS. A lot of agents either get sold that this is easy work 10 hours a week by a bad IMO or just plain won't work if a agent wants high contracts they have to prove they are worth the risk. If they can't they can chose a different IMO but I will no longer take that risk. If they prove it they can have it. Simple as that. But most can't prove it.

Thank god there are other IMO's. But we've already shot holes in your business model before, no need to rehash that.