Nasb

[bboman23]

you bring up a good point...but let's say you worked at MetLife, as a captive agent. You bring in your friend and he's at a 50% grid, as opposed to the 90% grid a broker gets.

Are you screwing him??? It's up for debate....Tough decision to make

Little different than a captive agency though correct?

 

[Mattschmidt]

Little different than a captive agency though correct?

Usually if you are builing a down line, you are trying to "captive " that agent. Meaning if I supply you leads, give you training, you write that business through the carriers that I am your upline.

All IMO's eventually want you to be "captive" and write exclusively through them.

 

[Newby]

Usually if you are builing a down line, you are trying to "captive " that agent. Meaning if I supply you leads, give you training, you write that business through the carriers that I am your upline. All IMO's eventually want you to be "captive" and write exclusively through them.

I agree with this. But the IMOs that have an open door policy have more reason to stay competitive to keep agents rather than just recruit them when they are green and don't know their other options.

But I agree. Everyone needs to go where they feel they will thrive.

 

[Bassbuster23]

Abe, I think I understand what you're saying and where you're confused. FEX offers independent agents the highest commission because he still makes a healthy override even when giving them 120%. He's going to attract a lot more independent agents who want to just sell at that percentage. For him it's great. Producers are attracted to the higher commission. Therefore more people are going to work with him. His override of 30% makes him a fair amount of money when spread out over the volume of salesmen his generous 120% offer attracts. He's working on volume. If you're building a down line as an independent agent under FEX, then you wouldn't offer your down line 120% like you said. You would offer them 90-100%. If I were going to build an agency, I would work my way up to 150-160% contracts, then offer those under me street level 120%. I'm still making a 30-40% override. At that point, I want as many salesmen under me as possible so that I earn that 30-40% override off each one of them. Now, who do you think is going to attract more salesmen, my 120% offer or NASB's 80% offer? The more salesmen you have, the more overrides you receive, so you put the best possible offer out there.

This guy is catching on quickly! Well put, Dream......& totally correct!

 

[liquidglass]

Higher contracts are appealing to an agent but what's $0 of a 100% or 120% contract? Nothing. New agents should give up a little bit to learn the business and then start up the ladder to make big bucks, provided that the IMO is giving value and not just contracting them at 70% and telling them good luck.

I always have a lot of people ask for higher contracts and don't expect an office with customer support, business retention, and lead costs to make a profit. Those are the people I send to NAA.

 

[Newby]

Higher contracts are appealing to an agent but what's $0 of a 100% or 120% contract? Nothing. New agents should give up a little bit to learn the business and then start up the ladder to make big bucks, provided that the IMO is giving value and not just contracting them at 70% and telling them good luck. I always have a lot of people ask for higher contracts and don't expect an office with customer support, business retention, and lead costs to make a profit. Those are the people I send to NAA.

So your point is that agents have a better chance of selling something if they are with your group at 80% than anywhere else selling the exact same thing at 100% -120%?

 

[deadhead]

So your point is that agents have a better chance of selling something if they are with your group at 80% than anywhere else selling the exact same thing at 100% -120%?

Sounds good to me. Sign me up

 

[Dreamworx]

So your point is that agents have a better chance of selling something if they are with your group at 80% than anywhere else selling the exact same thing at 100% -120%?

I think he's saying that the cost of training comes with a lower contract percentage.

However, I'm new to this, and within the last two weeks I've learned a lot on my own. Within two months I should know what I need to know to be quite successful.

For me, two months of research on my own gets me an extra 40% on my contracts. I don't think a few weeks of training on your part constitutes a 40% reduction in my pay for years to come.

In past circumstances I've been smarter than the guy training me, and I end up giving him tips and ideas. At this point, that kind of training (or lack there of) is worth 40% to me.

 

[Gooner]

So your point is that agents have a better chance of selling something if they are with your group at 80% than anywhere else selling the exact same thing at 100% -120%?

You do realize your trying rationalize with a moron. I love the 120% of nothing...so that means the friday calls and open phone lines you give aren't really training. Totally hasn't helped out at all...I think I need a release so I can gonget an 80% contract with this guy so he can show me how to write $5/week AP.

Hey guy, can you show me how to write $5k a week in AP?

 

[deadhead]

You do realize your trying rationalize with a moron. I love the 120% of nothing...so that means the friday calls and open phone lines you give aren't really training. Totally hasn't helped out at all...I think I need a release so I can gonget an 80% contract with this guy so he can show me how to write $5/week AP.

Hey guy, can you show me how to write $5k a week in AP?

You start with a blank sheet of paper and a pen or pencil the you put the pen in your and and push it onto the paper. Next you start forming the words and numbers "$5/week AP". There now you have written " $5/week AP"