- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: Any State Farm Agency Owners Here?
Posted on 4/8/14 at 12:05 pm to Y.A. Tittle
Posted on 4/8/14 at 12:05 pm to Y.A. Tittle
quote:
That's a shame. It used to be like being granted a license to print money.
Agreed that's why I jumped at opportunity , then when I got a peek behind the curtain... It was all she wrote at that point... I can make a lot of money doing what i'm doing and do it the way I want..
1
Posted on 4/8/14 at 12:22 pm to Phil A Sheo
quote:
Agreed that's why I jumped at opportunity , then when I got a peek behind the curtain... It was all she wrote at that point... I can make a lot of money doing what i'm doing and do it the way I want..
Yeah much better that way. My dad says the same as your buddies.
SF to me has way to much control over what we write and can't write. they could make so much more money if we would write dwelling policies and other stuff but no they don't see it.
Posted on 4/8/14 at 12:23 pm to Y.A. Tittle
quote:
That's a shame. It used to be like being granted a license to print money
Yes it did not anymore. There all about the company making the money not the peon agents
Posted on 4/8/14 at 12:24 pm to LSUgolf
What percentage of first year premiums can you expect today ?
Posted on 4/8/14 at 12:27 pm to LSUgolf
quote:
Yeah much better that way. My dad says the same as your buddies. SF to me has way to much control over what we write and can't write. they could make so much more money if we would write dwelling policies and other stuff but no they don't see it
Not only that, They need to ease the Life Ins train they've been pushing like crazy.. SF ain't near the cheapest or best at it...and they require you push it on customers... When I ran IFR's when I got to the Life ins questions...I had so many customers just so put off by the fact that I even asked and the 10 out of 100 booked clients I could get to even come in
Posted on 4/8/14 at 1:08 pm to LSUgolf
It's with State Farm? How is that working for when he retires? My dad, uncle, and grandpaw are all agents and State Farm made it a point a few years back that their books of business belonged to the company and couldn't be passed down to his sons or something along those lines.
Posted on 4/8/14 at 1:11 pm to SammichMaker
quote:
It's with State Farm? How is that working for when he retires? My dad, uncle, and grandpaw are all agents and State Farm made it a point a few years back that their books of business belonged to the company and couldn't be passed down to his sons or something along those lines.
That's where the political tap dancing comes in
Posted on 4/8/14 at 1:12 pm to Sao
quote:
What percentage of first year premiums can you expect today ?
as a new agent, I haven't a clue. LSUgolf would have better perspective. Older agents get 10%, but keep in mind that all overhead (or at least most) is on your shoulders.
disclosure: I don't work for state farm...have very close relative in the biz. it is very different for new agents now than what it used to be. However, Texas may offer a totally different culture, especially considering you'll, in all likelihood, be able to write other biz lines.
yes, it's a pain for new agents, but there's also something to be said for working under the state farm brand versus starting your own company, "Sao property casualty" that no one knows, recognizes, or gives a frick about...that's not to say you couldn't make it on your own either.
Posted on 4/8/14 at 1:13 pm to Phil A Sheo
quote:
That's where the political tap dancing comes in
and this x1000
however, the politics can work in your favor too. I've seen it happen with state farm
Posted on 4/8/14 at 1:18 pm to mostbesttigerfanever
quote:
and this x1000 however, the politics can work in your favor too. I've seen it happen with state farm
Yeah that's what I was getting at.. B/c I believe there is an office on Sherwood that had been there forever and the Daughter took over.granted I think she had to share some of the book with another new agent as well
Posted on 4/8/14 at 1:24 pm to Sao
quote:
What percentage of first year premiums can you expect today ?
That depends on your contract. Also I don't see how you'll get the current book in its entirety. Some of it will be peeled off and redistributed to other agents.
Posted on 4/8/14 at 1:47 pm to Judge Smails
I just got on with State Farm as an office rep.
Decent base plus commission.
Not an agent. Yet.
Decent base plus commission.
Not an agent. Yet.
Posted on 4/8/14 at 1:57 pm to SammichMaker
quote:
It's with State Farm? How is that working for when he retires? My dad, uncle, and grandpaw are all agents and State Farm made it a point a few years back that their books of business belonged to the company and couldn't be passed down to his sons or something along those lines.
I will either have a independent ins agency setup in this current office. Or I will rent this building to the new agent for a large sum of money a month. Or sell it to him/her for a large sum. if he lives another 10 years i will be able to retire when he does.
Posted on 4/8/14 at 2:00 pm to CherryGarciaMan
What's the base? 25k? What are your duties?
Posted on 4/8/14 at 2:06 pm to TheGrouperFingers
34 plus 2 for health.
4-6% of all premiums (6mnth for auto/annual for home).
Life premiums vary, though the company is incentivizing the hell out of it.
4-6% of all premiums (6mnth for auto/annual for home).
Life premiums vary, though the company is incentivizing the hell out of it.
Posted on 4/8/14 at 2:09 pm to CherryGarciaMan
Not bad. Don't know what that comes out to after commission but pretty good for office rep.
Posted on 4/8/14 at 2:22 pm to LSUgolf
quote:
SF to me has way to much control over what we write and can't write. they could make so much more money if we would write dwelling policies and other stuff but no they don't see it.
It's not quite that simple.
I've worked at 2 mid-sized P&C companies and have first hand experience w/ the risk management side of the business. It's not about writing as much premium as you can. Most companies that do really well today do so by finding their niche and focusing on that line of business.
You can bet SF employs some of the best in the business, so they know what's most profitable for them.
Posted on 4/8/14 at 3:02 pm to CherryGarciaMan
quote:
Life premiums vary, though the company is incentivizing the hell out of it.
Yeah they want us to sell it. But SF bread and butter is P&C i don't know why we are even pushing auto loans and life ins.
OUr auto loans are a great deal right now though plus free gap if you finance with us.
Posted on 4/8/14 at 3:03 pm to Skin
I interact with many SF Agents on a daily and weekly basis. The Dallas market is a solid market, especially if the book of business you inherit is decent and will not be split.
Austin is another solid market area.
BTW, I deal with SF Agents over many states.
Austin is another solid market area.
BTW, I deal with SF Agents over many states.
Posted on 4/8/14 at 3:05 pm to LSU_Holla
quote:
LSU_Holla
i know who this is then too
Page 2 of 3
Popular
Back to top
Follow TigerDroppings for LSU Football News