Just starting out but have solid contacts.

by desi_outlaws » Mon Dec 28, 2009 05:09 am

Hello I have not started the process of obtaining my license yet but I am going to start it in Jan. My dads brother is a chartered accountant, my father is a Real Estate agent and my mother is a mortgage broker. My uncle strictly does commercial financing such as plazas, franchises he goes up to 40 mill and qaulifies every client if anything seems fishy he drops it. He has been telling me a lot over the past month get your insurance license so I can pass you business. He does around 50-60 projects a year.

I am 21 years old and basically he said most things a ready and made because my family went through the struggle already and they are pretty strong in the market not through advertising but word of mouth. Nobody in my family spends a single dollar on advertising or flyers. Business comes stricly through prospecting or in my uncles case word of mouth. Do I have huge advantage?

What is the potential here income wise and is it possible to make a mill with providing commerical insurance. What are some aof the average policies and earnings doing commercial.(Dont really know how the system works just got a general idea) Thank you very much for reading my post and answring my questions.

Total Comments: 6

Posted: Mon Dec 28, 2009 07:31 am Post Subject:

You haven't mentioned anything about your present qualifications. Again, it's not quite clear to me whether you'd like to set up your own agency or if it's your wish to work as a captive agent. Please give more information.

Posted: Mon Dec 28, 2009 07:36 am Post Subject:

Ok my mistake if I wasn't clear. I am currently working for 10 dollars an hour at a distribution centre. I have my dealers license to sell cars but the industry is real dirty right now in my area and you need money. Basically I am a new recruit my intentions are to make a lot of money and make use of the help that I am getting. Would it be possible with those types of contacts? I am going to start the course for general insurance Jan 16. Did my grade 12 nothing more than that so you could say I'm an average joe. I am going to be an agent working under an insurance broker for the first bit because the law requires you too for 8 months.

Posted: Tue Dec 29, 2009 12:26 am Post Subject:

I think you have some real potential. You say working under a broker, what exactly do you mean?

There are several opportunities for you to grow in this business, and based on your potential contacts, I'd tell you that picking some great companies could really benefit the people you know and you.

Where will you be practicing?

Posted: Tue Dec 29, 2009 01:36 am Post Subject:

I will be practising in Toronto Canada as a general insurance agent selling everything but life or maybe after. Will companies be looking for me since I have these contacts and have almost garaunteed business. Would I be able to command more commision and benefits even though I am a new agent?

Posted: Tue Dec 29, 2009 12:03 pm Post Subject:

Do I have huge advantage?

It sounds like it yes...

But honey...these statements worry me some about your expectations...

is it possible to make a mill

my intentions are to make a lot of money

I am currently working for 10 dollars an hour

You are not going to start out (or finish for that matter) making a ton of money without out a lot of hard work on your part. Your family is willing to help you with terrific leads, but YOU will have to do the work...and a lot of it..

Posted: Wed Dec 30, 2009 02:28 am Post Subject:

Lori makes a good point. You know these people, but how many of them are you certain really want your help?

The grind will still be there. Don't let that discourage you. You have a great natural market. Does it follow that you'd be able to get a better contract commission wise? No wise BGA, MGA, GA etc. would offer you a better contract based on assumed business with no past production to prove your abilities. Look for an ERA schedule to know what you need to produce to move up in commission levels.

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