Hi, I've been offered a sales position with a State Farm

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PostPosted: Sun Oct 19, 2008 7:24 pm   Post subject: Hi, I've been offered a sales position with a State Farm  

I am being offered a base plus commission, plus bonuses. Since my database is so large, I think I can make this happen...what do you think?

njsilva3
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PostPosted: Sun Oct 19, 2008 7:46 pm   Post subject:   

Your database? Are you bringing something to the agency or is this their book of business that will be working out of?



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PostPosted: Mon Oct 20, 2008 9:27 am   Post subject:   

Hi njsilva, I think its entirely your call. State farm is definitely a renowned entity in the field of business. Therefore, an association with the brand name like State Farm ensures success to some extent, but at the same time you also have to keep in mind that there are many State Farm agents out there in the field and hence you not only have to compete with the agents of other companies but also have to compete with the other State Farm agents.



Anyways, I wish you all the success Smile

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PostPosted: Tue Oct 21, 2008 11:53 pm   Post subject:   

I think State Farm is an excellent company to work for and a great place to learn the insurance industry and advancement can be achieved with hard work and dedication. Plus, drivers like the name State Farm has built up and it should be pretty easy to convince drivers to switch their coverage as long as you can save them money or get real close to their policy. State Farm is one of the largest and most recognized insurance companies in the industry and a lot of people would love to have the opportunity you have been given.



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PostPosted: Tue Oct 21, 2008 11:57 pm   Post subject:   

Check on any moratoriums they have in your area. For example, SF hasn't written any new homeowner's policies in Mississippi for the last two years.



That would definitely have an effect on premium (which equates to your bonus/commission, etc).



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PostPosted: Wed Oct 22, 2008 11:14 am   Post subject:   

njsilva3 wrote:

Quote:
I am being offered a base plus commission, plus bonuses. Since my database is so large, I think I can make this happen...what do you think?


Hmmmmm, so are you saying you're going to be actively moving your block of business to State Farm?



Then who owns the business, YOU or State Farm?



When you leave the agency do your clients stay with them?



Sure you'll make a lot of money right off the bat because your existing block of business is a warm market for you. But that's not insurance sales. That's nothing more than order taking and once you've rolled your block of business to State Farm you as the agent don't have any clients.



There are many agencies out there who sucker naive agents into assigning all their commission to the agency then when it doesn't work out you're gone and your money and your block of business stays with the agency.



Get it in writing that your clients and your previous block of business is YOURS!



And that you are to be paid your same renewal commission as long as those clients remain on State Farm's books.



Now if they won't make that deal, it should answer your question:

Quote:
what do you think?




My 2 cents.





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