new independent agent seeking help for...........

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Posted: Sun Mar 08, 2009 5:17 pm Post subject: new independent agent seeking help for...........

i am new independent agent going to work for this new broker company consisting of 3 to 4 people.this compnay is in exsistance for last 1.5 years only.I do have offers to join different insurance companies but working as independent broker seems much better idea from comission point of view.I have great experience in sales but in insurance industry yet but beleive that i wll be fine....... My question is by joining these new guys,do you think that i would be limiting my knowledge as there r not many people in this company to guide me? do i really need guidance?or i can just learn products and sell it as per my own skills? Thanks _________________ Register Now to have your Insurance queries solved.

tellmenow

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Posted: Sun Mar 08, 2009 5:33 pm Post subject:

Quote:

i am new independent agent going to work for this new broker company consisting of 3 to 4 people.

first of all welcome to the community.

I won't say that it will be disadvantageous to you if you join new yeppy upcoming brokerage firm as against the well settled biggies.

you might have heard the phrase "Two is a company three is crowd" (correct me if the wordings are not proper) so whether you are in small company or with a big established brand it doesn't matter till the point you have one mentor with you.So thus "two" people.You and your mentor... thus its a 'company'.

Theoretical knowledge of the products is your part of gamut whereas to have a pitching lesson mentor is required. i hope you will make it for sure. best wishes.....
Wink

_________________
www.Parthaconsultancy.info

Its my personal website.

amit

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Joined: 25 Jan 2009
Posts: 366

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Posted: Sun Mar 08, 2009 5:49 pm Post subject: hm

thanks..you are right..mentor is what matters and not the company.....does comissions differ from company to company? _________________ Register Now to have your Insurance queries solved.

tellmenow

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Posted: Tue Mar 10, 2009 8:43 pm Post subject:

your commissions will depend alot upon the contract the agency has with the companies they represent. it will also depend on the size of the override they are taking. Your commissions will vary between companies and between agencies. If your looking at a few different offers pick the one that will best facilitate your success overall. The difference of a few less commission points wont matter if your selling twice as much. A higher contract doesnt mean much if you dont make any sales. OH!! And I almost forgot to mention. Dont forget about making sure they will give you an unconditional release should you decide to leave the agency.

wwwsimplyinsuremecom

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Joined: 10 Mar 2009
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Posted: Wed Mar 11, 2009 3:41 am Post subject:

You can also find a lot of information and tips on this forum. I've been in the industry for quite awhile, and still learn something new from the posters on the boards here. Also be careful that you know exactly how to comply with regulations, because new companies may not be as experienced in some regards!

ChrisBantly

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Joined: 11 Mar 2009
Posts: 381

Location: Upstate SC
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Posted: Wed Mar 11, 2009 1:18 pm Post subject:

i agrre with both cbantly1 and simplyinsureme whatever points they have made so far. It is really important that you should have the legal contract signed with the insurance company/agencies as in most of the new(?) companies if you are negligent on the contract issue in writing you may even loose commission as sometimes some agrees 70 % and actually pays only 50-60 % so you need to be very clear with the terms of the contract. Bon Voyague !! _________________ www.Parthaconsultancy.info Its my personal website.

amit

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Joined: 25 Jan 2009
Posts: 366

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new independent agent seeking help for...........