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farmers insurance agent- good career choice?

Discussion in 'General Chat' started by grizzlybear, Feb 27, 2012.

  1. grizzlybear

    grizzlybear Well-Known Member

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    like title, I have a chance to start up with farmers. Is it a good choice? thoughts? :)
     
  2. why

    why Well-Known Member

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    These 'careers' generally require you to take out a loan and work to pay it back. It's a fairly well-known scam.
     
    Last edited: Feb 27, 2012
    1 person likes this.
  3. grizzlybear

    grizzlybear Well-Known Member

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    i wouldnt be paying for anything, i believe youre thinking about becoming an independent which would require you to take a loan to start your own business. i'd pay roughly $450 to get my licence and classes etc to be able to start selling insurance through farmers. :embar:
     
  4. why

    why Well-Known Member

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    And then you work entirely on commission. It's just a way for them to get your friends and family to buy insurance. There's really nobody else to sell to after that.

    If they were really interested in you they'd be paying for the real certification. I know someone who went into one of these 'interviews' (which was more like a sales pitch). The $450 is just the 'Farmers certification' (i.e. you pay $450 to Farmers). You can't actually sell policies yourself at that point.

    Essentially, you pay them money for the 'certification' to cover their HR department costs and then work completely on commission. It's a win-win for them: no investment yet the possibility of return.
     
    Last edited: Feb 27, 2012
  5. grizzlybear

    grizzlybear Well-Known Member

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    they actually dont get any money from it, I pay that money to get my P&C and another license, and i wouldnt be selling to friends and family because they dont want me to do that. the deal is that after i sell 44 policies i get a monthly salary of about $2500 + commission on whatever policies i sell :embar:
     
  6. why

    why Well-Known Member

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    I don't know the details because I only heard about this from someone who went into an interview. He quickly walked out. It's designed for you to fail after signing up all your friends and family with Farmers.

    You can Google this and see lots of information on it. From the looks of things, you're better off selling used cars.

    A quick Google search returned the following quote from an email solicitation that was seemingly sent to people who had their resumes online:

    I'd be very wary of this, because it sounds like a way to get you on the hook.

    And I absolutely would never take a job that's sent as unsolicited emails through job search websites. There's a reason they do this: the goal is to have tons of agents who sell insurance to friends and family and then never get past basic commission. It's the insurance equivalent of Amway.
     
    Last edited: Feb 27, 2012
  7. Dakota rube

    Dakota rube Well-Known Member

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    I know a Farmers agent. IIRC, Farmers has a really attractive training program that will actually pay your bills while you're building a book of business.

    However, he — like a lot of long-time agents — is getting killed by the internet. All the national insurance cos are taking apps and writing coverage, bypassing the local agent.
     
  8. grizzlybear

    grizzlybear Well-Known Member

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    does he have to pay anything back?
    everything i talked about with the manager he made it seem like its a good career and what not (obviously he will) but i'm trying to get to the so not sugar coated stuff :embar:
     
  9. grizzlybear

    grizzlybear Well-Known Member

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  10. MrG

    MrG Well-Known Member

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    Dude, how about you just tell us exactly how many people are going to have to say, "it's a bad idea" before you listen. That way, you can meet your quota and this thread can slip into oblivion.

    FWIW, I received the same type of solicitation why describes after I posted my resume on Monster at the end of grad school. I was confused, so I called them back. They described their model, and it was really obvious it was a scam. Yours sounds like the same type of thing.

    That's three of us.
     
  11. Piobaire

    Piobaire Well-Known Member

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    I had a friend that was deeply into AL Williams (I think it's called Primerica now) the big MLM life insurance company. This guy was a true blue believer and relentlessly tried to get me to go to one of the meetings. He put a big push for this one particular meeting as some big shot was going to be there. So finally I relented and went. The big shot speaker started off with, "If you think you're going to earn 100k at your day job next year just leave now." I got up and started walking out. People freaked. I guess it's the first time anyone ever got up to leave. :laugh:
     
    2 people like this.
  12. otc

    otc Well-Known Member

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    :laugh:
     
  13. Hoofit

    Hoofit Well-Known Member

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    Just walk away. I did this about 5 years ago, because my family has an agency with Farmers. I ended up not making the numbers and walked away before I had to pay anything back. Their contract has changed and not in your favor. They have all the control over rates, and if they are high in your area you wont make the numbers. If you really want to sell insurance get in touch with a local independant agent and start as a producer. You will get an idea for the business and have the ability to place business with more than one company. Did I mention that Independant companies pay better commissions than captives.

    You would be suprised at how many agents they try to put on. I would say that 10% make it past the 2 year mark with Farmers. Unless they are going to be giving you a ton of policies from a retiring agent I wouldn't consider it.
     
  14. itsanillusion

    itsanillusion New Member

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    Let me tell you from personal experience. I started this "start-up" franchise/ pyramid scheme a couple years ago. Was there almost 2 years. I was promised the stars and everything seemed to go as they said it would. Qualified for the subsidy loan and even meet goals to get it waived. Then after several months of being involved with it. I started to seem some changes. You see I started off with using my savings to help me get started. You have to reach goals before you can get any subsidy assistance. Just as I ran out of all my savings, the subsidy did kick and the pressure was off as I started to make sale and then of course the subsidy money. Well things change and that included the contract that I originally signed. Goals changed and then of course we started to see the insurance rates for our customers go up. This was ok at first as we were still competitive. Then are started to see the rates go up more and more. Pretty soon I could not get any business because the rates are to damn high and then the renewals came around.. Well, lets just say there was a lot of angry clients. I started to see cancellations, complaints, service problems and underwriting issues come from all different directions. My life turned into a nightmare I could no longer make any sales calls as I was too busy putting out fires. What seemingly started to be a great career turned into the worst living nightmare of my life. I am now completely broke, have no savings left, owe a lot of money (subsidy) to the company and have lost friends and angered family members because of the kind of business farmers is. This company has found a way to hire a bunch of people, get them to sale their friends and family, then jack the rates on them while spending all their savings and borrow money from them in the process while reaping the profits. Now I have left them and went on to better things and all I have left of this experience was more debt, pain and nothing to show for the hard work put forth.
     
  15. itsanillusion

    itsanillusion New Member

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  16. pdxtalk

    pdxtalk New Member

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    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.
     
    2 people like this.
  17. Grenadier

    Grenadier Well-Known Member

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    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.
     
  18. Samantha81

    Samantha81 New Member

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    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.
     
  19. Piobaire

    Piobaire Well-Known Member

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    :rolleyes:


    Excellent first post!
     
    Last edited: May 8, 2013
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  20. SalesPro1987

    SalesPro1987 New Member

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    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.....!!!
     

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