cha-ching...I'm just a blue collar workin' red neck...that 'kind' of money just boggles my mind... _________________ **************************************
Life gaurantees a chance NOT a fair shake
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FIND a way EVERY day to lighten the load of another
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You know what's great about that? I've seldom seen any "red necks" who aren't honest, hard-working people, who'd give you the shirt off their backs. I got lucky; one day I got fed up with a dishonest system and stood my ground, just like you and almost any other red neck would have done. I didn't have a great deal of money or the power I neded to fight the system. I was, however, on the positive side of right versus wrong. I was standing on the railroad tracks telling old people in wheelchairs to get off the tracks, the train is coming. A bunch of sympathetic hearts and the major media jumped on it and I got my 15 minutes of fame.
Once the ball was passed to me, I ran with it. The rest is history. _________________ Please feel free to go to my website at www.markcolbert.com or, if you have a specific question, you can email me directly. I hope I can answer any questions you might have. If not, I can certainly find an answer right away.
"...The first was a $35m policy on a 74 year old woman in NY whose husband once employed Donald Trump.... The Interest Sensitive Whole Life policy was for estate purposes....
The second was a $28m policy for a 61 year old man down in Carslbad, CA. He was one of the small group that started a company called BFI (also known as Allied Waste Industries, inc.)..."
Like I've said on other threads:
Sock-It-To-'em-Obama!!!
A vote for Obama is a vote for lawyers and insurance agents!
Gee whiz, InsInvestigator, WHY would a 74 year old woman need a $35,000,000 million dollar policy?
I thought A. L. Williams said as you grow older and more wealthy you don't need any life insurance and especaily NOT cash value life insurance at that age??!!??!!??!!??!!??!! _________________ Gary Spicuzza, *SAFE
Copyright 1956.
No rights reserved.
*Self Appointed Financial Expert
The value of their estate was in excess of $500M and her husband was uninsurable. I was not hired to ask questions, fact find, or make suggestions, just fill out and submit an application as per the son's instructions. I didn't put much work into that one at all. One of these days, I'll get a referral or two and life will be simpler. _________________ Please feel free to go to my website at www.markcolbert.com or, if you have a specific question, you can email me directly. I hope I can answer any questions you might have. If not, I can certainly find an answer right away.
I'll get a referral or two and life will be simpler.
i hope so Mark... _________________ **************************************
Life gaurantees a chance NOT a fair shake
**************************************
FIND a way EVERY day to lighten the load of another
**************************************
Thanks Lori, you've certainly given my day a bright start. I hope yours is also going great. _________________ Please feel free to go to my website at www.markcolbert.com or, if you have a specific question, you can email me directly. I hope I can answer any questions you might have. If not, I can certainly find an answer right away.
Posted: Sun Nov 09, 2008 6:13 pm Post subject: He is his architect
The insurance agent can all the money he wants in alife time in one year if he want it that way. hence, it depends on his hard work of openning and closing of sale that makes him his commission.
Whaaaat? _________________ Please feel free to go to my website at www.markcolbert.com or, if you have a specific question, you can email me directly. I hope I can answer any questions you might have. If not, I can certainly find an answer right away.
"only 6 months in= $265,000+
And thats not including the books of business I bought (an extra $320,000+)"
"Is that 265K premium dollars or gross paychecks you write yourself?"
"Pay checks. I have a few BIG BIG commercial accounts."
WOW. I have to call B.S. when I see it, and I see it everywhere. First of all, I'd bet the farm that the poster claiming to have made $265,000 in 6 months is full of sh*t.(not that i disagree, just need to clean it up for ya' hon--lori) I've been an independent agent for about 10 years and have a sizable book, but that amount is ridiculous. I could see that amount being earned premium, but for the first 6 months in the industry I call BS. I've insured auto dealerships that pay over $1,000,000 in premium, but accounts of that size are heavliy marketed and VERY tough to get. Even harder to keep.
Maybe if your daddy owns the dealership you could get it, otherwise the odds of getting accounts that size the first 6 months in are ZERO. Why? Because A) Unless you have years experience, you won't know WTF you are doing to land it B) Clients quickly will know you don't know WTF you are doing C) Someone who does know WTF they are doing will come along and steal it. _________________ Register Now to have your Insurance queries solved.
$265,000 in commission in 6 months would require a minimum of $1,325,000 in premium IF the agent got 20% commission.
Somebody correct me if I'm wrong but isn't typical P & C agent commission in the 10% to 15% range on average?
Using 10% commission the premium requirement to earn $265,000 would be $2,650,000.
To Easy wrote:
Quote:
I have a few BIG BIG commercial accounts.
CobbNero wrote:
Quote:
I've insured auto dealerships that pay over $1,000,000 in premium, but accounts of that size are heavily marketed and VERY tough to get.
CobbNero I fail to see the bllsht. Seems to me if the guy specializes, say in auto dealerships, the agent only needs 3 or 4 to earn that kind of money. Granted a brand new agent with zero experience couldn't do that. But a brand new agent being trained by his Father who has owned an agency or owns the agency could.
A brand new agent with only 6 month experience probably wouldn't know about the "Agent of Record" thingy without guidance from an experienced agent or agency either.
I say that because To Easy also wrote:
Quote:
You can always be a dick and do an AOR (Agent of record). If you have that same company the person is currently with and you cannot find a cheaper rate, you can ask them if they would like YOU to be their agent, instead of the other one. All you would have to do is sell your personality and let them gain confidence in you.
That's "Experienced Agent" inside information there. _________________ Gary Spicuzza, *SAFE
Copyright 1956.
No rights reserved.
*Self Appointed Financial Expert
Posted: Mon Jan 05, 2009 5:57 pm Post subject: sell crazy somewhere else
It's still BS and here's why: Any agent on the independent side would know about AOR's on Day 1. Also, most companies don't like doing AORs and it isn't as easy as the poster describes. Secondly, I challenge anyone to get into the large commercial insurance business within 6 months of being licensed, even with your daddy's help. Here's why: If I'm an agent that currently has some large commercial accounts, before renewal time I reopen quotes for this business with other commercial carriers. Most carriers only allow one agent to run the quote with the company, so "first come, first serve." Thereby, I have no just elimanted much of my competition, because even if someone wants to come in and grab it, they can't.
I also call BS because this person says they bought a book of business on his/her own, implying their dad isn't working with them. Now maybe their dad is the person they bought it from and is assisting on the large commercial cases, but that means the dad's book was only $250,000 - in which case I doubt he did hardly any large commercial or his renewals would have been much higher.
Sorry folks, but I've been in this business far too long and heard the dreamings of far too many NEW agents - and that post is almost exactly what they all sound like. Granted, an agent CAN have those accomplishments, but NOT in the first 6 months.
Get a pitchfork for that load of horse dung. _________________ Register Now to have your Insurance queries solved.
Posted: Mon Jan 05, 2009 6:00 pm Post subject: correction
Sorry - daddy's book should have been $320,000, not $250,000. Same difference. 99% of the time, the big fish are landed by large agencies, meaning $1,000,000 in commissions or more. You need to be that big to get some of the large carrier appointments as well, which is another reason I call BS. _________________ Register Now to have your Insurance queries solved.
Sorry folks, but I've been in this business far too long and heard the dreamings of far too many NEW agents - and that post is almost exactly what they all sound like.
Yes,... but,... you have to admit,... $265,000 in commission,... 6 months into the business,... does sound good!
_________________ Gary Spicuzza, *SAFE
Copyright 1956.
No rights reserved.
*Self Appointed Financial Expert
I thought A. L. Williams said as you grow older and more wealthy you don't need any life insurance and especaily NOT cash value life insurance at that age??!!??!!??!!??!!??!! 
