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The more things change......The more they stay the same.
Ninety-Two Percent of All Agents Fail - Why?
- Thread starter JacquesWerth
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G
Guest
Guest
Yes, kind of like this from the 70's:
- Thread starter
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JacquesWerth
Expert
Re: Ninety-Two Percent of All Agents Fail - Really
Several posters questioned the accuracy of 92%. It comes from the Life Insurance Market Research Association (LIMRA) - which is funded by many of the largest insurance companies.
More accurately, of all newly licensed agents, 92 percent are no longer licensed within 4 years. Apparently, the primary reason is lack of adequate earnings.
Long before LIMRA released that number to the public, it was told to me in confidence by top corporate officers of two of the largest insurance companies in the USA.
The reciprocal of that 92% drop-out rate is that 8% percent of all new agents survive.
Bias Warning
62% of the agents that we train survive and their income is considerably greater than average.
Several posters questioned the accuracy of 92%. It comes from the Life Insurance Market Research Association (LIMRA) - which is funded by many of the largest insurance companies.
More accurately, of all newly licensed agents, 92 percent are no longer licensed within 4 years. Apparently, the primary reason is lack of adequate earnings.
Long before LIMRA released that number to the public, it was told to me in confidence by top corporate officers of two of the largest insurance companies in the USA.
The reciprocal of that 92% drop-out rate is that 8% percent of all new agents survive.
Bias Warning
62% of the agents that we train survive and their income is considerably greater than average.
So.....does this thread qualify as an infomercial ?
I think about 50% of the 92% are lazya$$es who do not commit to working the system. I'd guess that another large portion are recruited under false pretences and ultimately find this business is not a good match. There...now I'm an internet expert...book and seminar to follow
I think about 50% of the 92% are lazya$$es who do not commit to working the system. I'd guess that another large portion are recruited under false pretences and ultimately find this business is not a good match. There...now I'm an internet expert...book and seminar to follow
I tend to agree. I got my license as a result of meeting a sales manager while I was on vacation. I knew nothing about insurance sales as I had a book distributorship that I had recently sold. I went to the two weeks of classes and then took the test at a local testing center. I remarked to the testing center manager that I was surprised that a city of our size (50K people) could support a testing center. He replied that there were so many people coming in to take the tests that they must be selling insurance to each other. It's the same way with real estate sales around here. Everybody is related to somebody that sells real estate.
It's interesting how many new agents are flooding the market now a days. During the dot-com era, companies couldn't find agents anywhere, now, everyone is an agent.
This is aninteresting statement, one which is probably correct, at least in general. My question is whether this has to do with the training or the fact that those who are willing to shell out some serious $$$ tend to have more of a commitment and therefore are the ones more likely to succeed anyway?
I'm assuming most of it is the latter, but, most agents can use some more training. Face it, even millionaires seek out training from billionaires.
Dan
P.S. Yes, this thread is an infomercial!!! Kinda like the ones that say "Diets don't work, but if you buy our plan, you'll loose weight magically". Then you get the plan, it is a diet and an exercise routine, the very thing they told you that wouldn't work.
This is aninteresting statement, one which is probably correct, at least in general. My question is whether this has to do with the training or the fact that those who are willing to shell out some serious $$$ tend to have more of a commitment and therefore are the ones more likely to succeed anyway?
I'm assuming most of it is the latter, but, most agents can use some more training. Face it, even millionaires seek out training from billionaires.
Dan
P.S. Yes, this thread is an infomercial!!! Kinda like the ones that say "Diets don't work, but if you buy our plan, you'll loose weight magically". Then you get the plan, it is a diet and an exercise routine, the very thing they told you that wouldn't work.
- 7,066
Amen!
I think the two go hand in hand. If an agent is going to believe the ads or managers who say:
"Show Me The Money!
Make $150,000 per year working only a few hours a week while sitting at home in your underwear."
Make $150,000 per year working only a few hours a week while sitting at home in your underwear."
That agent is most likely not only looking for a "get rich quick" scam, they are probably not willing to work hard enough to earn it if it possible.
Agents fail because they are looking for someone else to do the work so all they have to do is write apps. Writing apps is fun, finding qualified, interested buyers is work.
Where do I sign up to get a copy of your book?
Agents fail because they are looking for someone else to do the work so all they have to do is write apps. Writing apps is fun, finding qualified, interested buyers is work.
Where do I sign up to get a copy of your book?
G
Guest
Guest
Re: Ninety-Two Percent of All Agents Fail - Really
I think you meant "Advertisement Warning"
I think you meant "Advertisement Warning"
- 3,384
"Show Me The Money!
Make $150,000 per year working only a few hours a week while sitting at home in your underwear."
Jeez, Frank, after 14 years NOW you tell me??? I was counting on the underwear thing any time now
- 15,319
Most agents fail because they spend all their time reading books about how to sell instead of selling.
Damn! Even I can make a living at this.
Rick
Damn! Even I can make a living at this.
Rick
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