- 7,066
Two years ago I had lunch with another agent I know and we were talking about the no call list and all of the other things that have made this job increasingly more difficult.
We had run into each other from time to time for a couple of years but weren't "good drinking buddies". We had a similar approach to selling and were comfortable with each others ethics.
He only sold annuities and high dollar life insurance. He said he gets requests for med supp and LTC but didn't know anything about it and didn't want to learn. The bulk of the business I do is med supps. I don't know anything about annuities.
We decided we would "go to work with each other". We each sent out a letter introducing the other one to our clients as our new "partner" and telling them we had expanded the services we provide. We swapped client databases. Now neither one of us had to worry about the no call list and already had "credibility" when calling the others clients.
For about the first eight months it was a kick ass program for both of us. We each did quite well. However, it did slow down as each of us had pretty much run through the others clients.
I wrote quite a bit of business during that time and so did he. Now we swap new clients and when on an appointment we mention that we have expanded services in the others speciality.
This is kind of a unique relationship that takes a special trust. In this case it has worked beautifully. However, I don't know too many agents I would enter into this kind of agreement with.
There was no sharing of commissions. We buy each other lunch from time to time and have become pretty good friends.
I'm sure it isn't something that one could do with any agent, but it is another way, if the opportunity ever arises, that can be explored.
I'm in the process of talking to a P&C agent I know about a similar arrangement. She doesn't like working with life and health and I have no desire to learn the P&C business.
We had run into each other from time to time for a couple of years but weren't "good drinking buddies". We had a similar approach to selling and were comfortable with each others ethics.
He only sold annuities and high dollar life insurance. He said he gets requests for med supp and LTC but didn't know anything about it and didn't want to learn. The bulk of the business I do is med supps. I don't know anything about annuities.
We decided we would "go to work with each other". We each sent out a letter introducing the other one to our clients as our new "partner" and telling them we had expanded the services we provide. We swapped client databases. Now neither one of us had to worry about the no call list and already had "credibility" when calling the others clients.
For about the first eight months it was a kick ass program for both of us. We each did quite well. However, it did slow down as each of us had pretty much run through the others clients.
I wrote quite a bit of business during that time and so did he. Now we swap new clients and when on an appointment we mention that we have expanded services in the others speciality.
This is kind of a unique relationship that takes a special trust. In this case it has worked beautifully. However, I don't know too many agents I would enter into this kind of agreement with.
There was no sharing of commissions. We buy each other lunch from time to time and have become pretty good friends.
I'm sure it isn't something that one could do with any agent, but it is another way, if the opportunity ever arises, that can be explored.
I'm in the process of talking to a P&C agent I know about a similar arrangement. She doesn't like working with life and health and I have no desire to learn the P&C business.