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re: Do sales producers at independent insurance agencies typically earn residuals of some type
Posted on 1/9/19 at 11:32 am to nugget
Posted on 1/9/19 at 11:32 am to nugget
quote:
You get 50% of the 15%.
Okay I misunderstood. That makes much more sense. Is that really the standard in LA? What is the standard agency fee? And are you in the business?
This post was edited on 1/9/19 at 11:33 am
1
Posted on 1/9/19 at 11:39 am to TDsngumbo
quote:
Is that really the standard in LA?
Close. Some agencies pay higher but require you to help pay for CSRs. If there is the ability to negotiate, try to do it on the renewals. That is how you can make real income.
quote:
What is the standard agency fee?
Completely depends. Depends on how much work the policy takes and depends on the premium. On your standard 8-10k gas station, I would always go for $300-400. Just a mom and pop $600 lawn business, I'd put $50. I've heard of people putting $10,000 agency fees on trucking companies and such.
quote:
And are you in the business?
I owned an agency at one point then sold it.
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