What do you do to 'justify' your commission?

[maxreferrals]

Just curious: What does everyone do when someone complains about
a commission or sales charge?

How do you tactfully justify/explain to them the charge and the
earnings you make from the product/advice you give?

 

[Crabcake Johnny]

I've never had anyone ask me about my commissions. To be frank, what I make it none of their business just like it's none of my business to go up to a Jiffy Lube owner how much he makes off my oil change.

 

[STIBROKER]

I tell my clients how I get paid.....why I get paid and how much I am making on them..first year and every year after that...you know why.....because you guy's don't do it and its sets me apart ,gains their trust and I tell them how others are paid a why they get shown certain plans...and one step closer to being their agent......

 

[somarco]

Why should an informed consumer complain? They get the same rate (health insurance) from me as they do buying direct from the carrier.

The same is true with most insurance products.

There are low load life products but the curious thing is, their rates are almost always higher than full commission products.

 

[Crabcake Johnny]

I tell my clients how I get paid.....why I get paid and how much I am making on them..first year and every year after that...you know why.....because you guy's don't do it and its sets me apart ,gains their trust and I tell them how others are paid a why they get shown certain plans...and one step closer to being their agent......

Back over 2 years ago a broker with 20 years in the biz hopped on the same internet lead source as me. He was telling everyone that they'll be getting calls from greedy agents recommending Golden Rule and Fortis because they make 25% commission: "Which you pay for Tim with their over-inflated rates." He went onto say he only makes $17.50 per month on Blue Cross which is one of the reason the rates were so much cheaper. Basically, he's looking out for his clients and everyone else is a pig. His fatal blow was: "Ask your agent if he's operating out of his basement or if he actually has an office."

He crushed me. I ended up talking to him and we went back and forth over the Carefirst benefits. Basically he was two words away from saying I'm a whore for selling anything on 20%+ commission.

 

[J.R.]

I can think of two words I would use in that situation as well and one of the rhymes with duck....

 

[David C]

Never had a client even hint at inquiring about my commission.

 

[Expat]

Money

Back over 2 years ago a broker with 20 years in the biz hopped on the same internet lead source as me. He was telling everyone that they'll be getting calls from greedy agents recommending Golden Rule and Fortis because they make 25% commission: "Which you pay for Tim with their over-inflated rates." He went onto say he only makes $17.50 per month on Blue Cross which is one of the reason the rates were so much cheaper. Basically, he's looking out for his clients and everyone else is a pig. His fatal blow was: "Ask your agent if he's operating out of his basement or if he actually has an office."

He crushed me. I ended up talking to him and we went back and forth over the Carefirst benefits. Basically he was two words away from saying I'm a whore for selling anything on 20%+ commission.

Either he was selling all $85 premium plans or he was an ***. Why anyone would work or a 10% commission is beyond me.

 

[Chris235]

Back over 2 years ago a broker with 20 years in the biz hopped on the same internet lead source as me. He was telling everyone that they'll be getting calls from greedy agents recommending Golden Rule and Fortis because they make 25% commission: "Which you pay for Tim with their over-inflated rates." He went onto say he only makes $17.50 per month on Blue Cross which is one of the reason the rates were so much cheaper. Basically, he's looking out for his clients and everyone else is a pig. His fatal blow was: "Ask your agent if he's operating out of his basement or if he actually has an office."

He crushed me. I ended up talking to him and we went back and forth over the Carefirst benefits. Basically he was two words away from saying I'm a whore for selling anything on 20%+ commission.

Some agents do basically tell consumers that everybody, except them of course, is out to get them. Then they basically say that every other company, again, other than the one they want to sell....is too expensive and to not even look at it. Some people will listen, others realize it's just an attempt to get their business.

 

[J.R.]

Just curious: What does everyone do when someone complains about
a commission or sales charge?

How do you tactfully justify/explain to them the charge and the
earnings you make from the product/advice you give?

I let them know that Lobster, Filet Mignon and alligator shoes are not cheap and I don't like using credit cards so I have to sign up people on the most expensive policies. Would you like to pay w/ a check or credit card