farmers insurance agent- good career choice?

[pdxtalk]

If a career at Farmers Insurance is a scam, then pretty much all insurance sales opportunities are scams. Having said that, I have made a good career as a Farmers agent, and life is good. I am now at that stage where I don't need to knock on doors every day, and long lazy afternoons at the golf course are the norm. But things are not what they used to be, and it has become increasing difficult to make a decent living as an insurance agent, especially for those just getting into the business. Factors like the economy, internet, changing consumer trends, and stick-in-the-mud management of agent based companies like Farmers and Allstate etc. are squeezing your friendly neighborhood agent out.

Consider the following before you commit to becoming an agent with Farmers Insurance:

1. Are you are born salesperson. Do you have a convincing style and personality to make people part with their money in return of a protection promise? If the answer is yes, then you are already on first base. However, if you lack presence in a crowd, and if you have difficulty getting your way in everyday life, then stay away from this career. I have been around long enough to know that people who are good communicators, have a style of their own (dress-up, looks, popularity etc), and are not bashful, tend to make good money as insurance professionals, and most everyone else just buy themselves a job.

2. Are you willing to be a professional. Selling insurance is a lot more than just making the sale. Unlike car or real estate sales, insurance sales generate long-term relationships. This profession gives you residual income, and you have to service your client, sometimes for decades. This takes a type of person who is willing to stay on top of product knowledge, industry trends, inside politics, and social networking. The more industry designations that you have (CPCU, CLU, etc) the more you are likely to be trusted and admired. However, this type of education takes years to accomplish, and it is not easy to come by. Additionally, Farmers is interested only in the money that you bring in, and could care less about you burning the midnight oil to polish your career. Additionally, do you have the vision to have a professional office with all the needed technology, staff, and class-A amenities? Look around, some insurance agents have pretty skanky offices, and equally skanky attitudes, but there are also those that impress you from the moment you step into their offices.

3. Do you have a natural market. You don't become a Farmers agent to sell policies to your in laws. Successful agents have a very large ready-made market that they solicit to. This market could be all your students if you are a retired teacher/coach, your constituents if you were the mayor of your town, or the ethnic community that you belong to. Today, agents from ethnic backgrounds (Asian, Russian, Hispanic etc) do much better simply for the fact that they have a readily available base that trusts them, and shares cultural/language/religious/immigrant ties.

4. Are you an Army of One. Farmers (and many others) does a poor job of turning you into a lean mean fighting machine. Their training is local district office based for the most part, and the quality of training depends on your manager and his resources. Often times, these recruiting managers are poorly trained themselves, and lack the necessary skills to train a person to become a successful insurance professional. Many of these managers (called DM at Farmers) were once unsuccessful agents themselves, but got "promoted" to DM because of nepotism or some other "ism". You stand the best chance of success if you are a self-starter, and a business man/woman at heart. You will need to develop your own strategy, tactics, and the bigger war plan, or you will become a casualty in no time. If you have this type of personality and stamina, then Farmers could be a gold mine. Else look at other companies like State Farm that have centralized training for agents, and significantly more resources than Farmers Insurance to get the agents up and running. However, you will be on a much tighter leash with State Farm as they would want your first-born in return for all the resources they spend on you.

So, considering the above, issues like how much subsidy does one company pay while you are in training, and how much money will you owe the company at the end of your training etc are minor considerations. Do medical students really care how much money they will owe Uncle Sam at the end of med school? Well, maybe some do, but most see career opportunities way beyond what is owned on their student loans. Same is true for a career as a captive agent. If you have the acumen, then just go for it.

 

[Grenadier]

I you want a career as an insurance agent, you should consider selling commercial lines. This will usually require joining a larger firm and you will have fewer sales, but they are more high-dollar.

 

[Samantha81]

First of all not one person on here knows what they are talking about. I work for Farmers as a recruiter. It is a good career opportunity for the right person. If it is not right for you then move on. We do not require you to take out a loan or invest. Get the company name correct! Second off, we use tools like Monster, Career Builder, etc. Just like any other company does. If you don't want a phone call about a potential job or career opportunity, THEN DON'T POST YOUR RESUME! The subsidy package is for 3 years by the way and it is not $2,500.00. It is $3,000.00 a month for the first year. The subsidy package ramps up for the next two years to help cover over head costs of an agency. It is very hard work, however; Farmers is a reputable company. Not like these other online companies. Especially where their agents work under others and hit a celing of $40,000.00 a year. We ask you to network. If you want to knock on doors, harass your family, or stand out in front of Walmart that is your business. This is a competitive professional sales position. If you can't hack it then your going to fail. It is not for everyone. So move on instead of saying my friend told me or a friend of a friend had an interview.

 

[Piobaire]



First of all not one person on here knows what they are talking about.

...I have made a good career as a Farmers agent, and life is good.

Excellent first post!

 

[SalesPro1987]

I was reading this blog....... I just had to reply...... If you are going to do something based on what someone else is telling you, you aren't going to get anywhere. You have to believe in yourself.... If you are going to expect someone to pay you, What have you done to earn it.... I am a strong believer that you make what your worth.... if you make 8dollars an hour your worth 8 dollars an hour..... For example... myself....I work for Chevrolet as a Sales and Leasing consultant.... I get hourly($8Hr) or commission whatever is greater. I can sit down relax and make 1400 - 1500 month...... but, I prefer to sell 10-12 cars a month and make 4000 a month Same idea as a insurance agent but you don't get that base salary..... I DARE YOU!!!!! I DARE ALL OF YOU TO PUT THE SALESMAN IN YOU TO WORK..... UNLESSS YOU ARE AFRAID!!!!! That's if you are up to the challenge? HAHA.... Just remember sales is "NOT EASY" and its not for EVERYONE!!!!! I Recommend you go to school get a degree and be somebody..... Or Unleash the Sales man in you.... Your Choice.....!!!

 

[otc]



I was reading this blog....... I just had to reply...... If you are going to do something based on what someone else is telling you, you aren't going to get anywhere. You have to believe in yourself.... If you are going to expect someone to pay you, What have you done to earn it.... I am a strong believer that you make what your worth.... if you make 8dollars an hour your worth 8 dollars an hour..... For example... myself....I work for Chevrolet as a Sales and Leasing consultant.... I get hourly($8Hr) or commission whatever is greater. I can sit down relax and make 1400 - 1500 month...... but, I prefer to sell 10-12 cars a month and make 4000 a month Same idea as a insurance agent but you don't get that base salary..... I DARE YOU!!!!! I DARE ALL OF YOU TO PUT THE SALESMAN IN YOU TO WORK..... UNLESSS YOU ARE AFRAID!!!!! That's if you are up to the challenge? HAHA.... Just remember sales is "NOT EASY" and its not for EVERYONE!!!!!  I Recommend you go to school get a degree and be somebody..... Or Unleash the Sales man in you.... Your Choice.....!!!

Both of those options sound ******. Isn't the "But if I bust ****** and..." option usually supposed to be not-******?

 

[Gibonius]

Do car salesmen usually brag about selling two or three cars a week?

 

[Piobaire]



I was reading this blog....... I just had to reply...... If you are going to do something based on what someone else is telling you, you aren't going to get anywhere. You have to believe in yourself.... If you are going to expect someone to pay you, What have you done to earn it.... I am a strong believer that you make what your worth.... if you make 8dollars an hour your worth 8 dollars an hour..... For example... myself....I work for Chevrolet as a Sales and Leasing consultant.... I get hourly($8Hr) or commission whatever is greater. I can sit down relax and make 1400 - 1500 month...... but, I prefer to sell 10-12 cars a month and make 4000 a month Same idea as a insurance agent but you don't get that base salary..... I DARE YOU!!!!! I DARE ALL OF YOU TO PUT THE SALESMAN IN YOU TO WORK..... UNLESSS YOU ARE AFRAID!!!!! That's if you are up to the challenge? HAHA.... Just remember sales is "NOT EASY" and its not for EVERYONE!!!!!  I Recommend you go to school get a degree and be somebody..... Or Unleash the Sales man in you.... Your Choice.....!!!

I agree with all you have said. Don't let the h8rs here get you down and keep on plugging until you get into the F&I box which is where you'll make the real money.

 

[imatlas]



I agree with all you have said. Don't let the h8rs here get you down and keep on plugging until you get into the F&I box which is where you'll make the real money really screw the suckers.

FTFM

 

[Bill Cory]

Thanks for the "Heads Up"!
I was thinking of doing this as I was contacted by Farmers also. They found my resume' on Monster and contacted me for this same offer. You have saved me time and money, Thank you Thank you Thank you!!!!!!T

 

[misterswag]

You want to get into commercial lines, as someone mentioned, or work as a broker. maybe in the more sophisticated insurance with account executives, actuaries, etc. but this is all more corporate rather than frontline sales. Look at companies like travelers, marsh, Willis, etc. maybe something a little more local? Try to become an underwriter or something.

When I interviewed for an agent position, it wasn't a scam but they did ask me to front the money for the licenses. They would reimburse me if I passed. I'm of the type to figure a company that immediately pushes their costs on me before I start isn't something I want to be a part of. I don't mind being a salesman, I have done it in the past. But I wouldn't want to sell to school teachers, everyone I know, etc. I'd say it messes with your perspective and you start to view everyone you meet as a potential sale. At least in commercial/b2b type sales, things are kept in a niche. You can actually go to a holiday party and not feel like putting on the sales mask.

It's certainly not a scam but a friend shared figures with me that less than 10% of people stay in the job more than 2-3 years. So you either succeed or fail miserably. My opinion is you have to keep the job for decades/life to make building that kind of business worthwhile. Otherwise, keep looking.

Good luck!

 

[Harold falcon]

They call it a pyramid scheme for a reason. The pointy end gets shoved in your ass.

 

[imatlas]

...not that there's anything wrong with that!

 

[MimikOne]

These guys don't even look at your resume, they send you a pre canned email after you apply to pretty much any job on a job search site. 20 Seconds after applying to a job I got an email saying they reviewed my resume and had an opportunity that fit my skill set..... I am a 3d animator, graphic designer, and IT professional, I don't know **** about insurance, never considered it, and want nothing to do with it.

They will hire anyone just to get you to sell your first policies to people that would support your new job like friends and family. Until you sell a high number of these policies as someone who has no experience in the industry, they know you'll probably run out of leads and quit. They pay nothing to get a few year long policies.

They get a few quick policies and don't have to pay you anything because you never get past the probation period where afterwards you might make some money. And there is always the success story of a guy somewhere far from where you are, the guy that interviews you will tell you about Cash Money Johnson halfway across the country pulling 6 figures all because he follows the 6 simple steps that they teach you, and closes every sale, and that could be you if you just follow their simple selling method that's ironclad.

Retail places like Office Depot do this too. Your district manager will tell you about the guy at his home store that racks up $10,000 a month because he sells so many service plans, but you will never meet a guy that does that, it's just a way to keep you for asking for a raise, "I told you about bobby at store 714, he's makin 6 figures and he just follows our simple selling methods, we need to retrain you".... It's bullshit to get you to sell enough so that THEY get huge bonuses and you might make $10 a week extra if you're lucky. And now 2 minutes later they called me for an interview, but couldn't even bother to have a person to call, it's a recording "hit 1 to get the location and date of your interview (group interview too, they will hire anyone, so no point in one on one).

So stay away. It's not even a good summer job choice, and I doubt many people make an actual career out of it, except those on the top, sales agents are disposable.

 

[insuranceguy1]

Yes. Most of these large companies are commission only unless you are working for corporate in a non-producer role.
I interviewed with farmers and it is a loan situation or straight commission.

State Farm is a "bearable" program as far as the large companies- you work with an agent at their office
helping them build their business, while you make $15-$17k or so + commissions. After 2-4 years, if successful, you open your own office. I checked into the commission levels and they were offering basically the first month's premium as a commission. So if you signed someone for $100/month or $1200/year you would get the $100. Too low for me especially with a $15k salary.

Best bet is go onboard with a successful insurance broker who you know- learn the business and possibly take over their business when they retire or work a 9-5 job that pays stable income and start your own business on the side- which is easy to do because many prospects want to meet at their house after they get home from work.

I am currently contracted with a national insurance marketing company that offers pre-qualified leads for mortgage protection and retirement planning protection and I receive 50% of the first year's premium or $600 roughly, but I pay for the leads. That's just starting off. I can go up to 100% of the first year's premium after I have produced certain production goals, but I have no "quota" because I'm an independent contractor. I have low overhead- printer/fax/copier, internet/phone line, gas, mileage on the car for appointments. I have a great back office, support team in place available 24/7 and I can recruit other agents and build a brick & mortar free business where I receive a % of their commissions as well.