Should You Work at Farmers or go independent?

[@svp8184]

Hey Mark, how difficult is it be released if I wanted to go to another IMO? Weeks, months or longer. What is the release clause?

[@dennisgreene5885]

Mark, I am in the process of acquiring a Farmers agency in Virginia and I completely agree with everything you noted in this video. As a future agency owner, my plan is to grow my employees to eventually move out on their own within a few years, if they so choose, beginning a cycle where they refer others to come to my agency do likewise. Being honest about the work and the opportunity will keep a steady flow of top notch talent flowing through my doors, while "graduating" successful future entrepreneurs who point back to me for their success. I hope you don't mind if I share this with future potential employees, and thank you for your honest and sincere insights into this industry. Blessings...Dennis Greene

[@markwflockhart]

Being an agency owner is an exciting path. Congratulations on your future agency. Feel free to share with future employees. 👏

[@Atascares]

@@markwflockhart I got offered a job as a insurance agent for State Farm they offered me a base pay of $2500 a month plus commission I would need to get my license after 60 days along with life Insurance. I'm nervous because I prefer hours pay and commission, should I take it or go with progressive as a claims adjuster?

[@markwflockhart]

@Atascares The larger question is, do you want to be in sales over claims? If so, you are willing to go to network meetings or, make sales pitches over the phone etc… if that is less appealing, I would lean toward the claims adjuster position. Claims is not all sunshine and rainbows either but you’re paid hourly vs commission.

[@Atascares]

@@markwflockhart only thing is it’s hard getting into claim adjuster even if I get all my license and states it’s difficult to find work so how can I put myself out there?

[@markwflockhart]

@@Atascares In insurance, it's a lot easier than you think to get a job. Sales is always available but an adjuster can be difficult depending on the need of the company. When I was at Farmer's, they required you to have a degree, be licensed and in your role for over a year if you were already with the company, and you usually had to graduate from one claim department to the other, meaning, You start out with auto and home which is busy and less rewarding and then you could graduate to easier roles. The happiest I see people in companies are if you can connect with mid-sized companies like Westfield in OH or Wolverine in IN(I think). They like to grow more of a family style company where they try to promote within and it's more of a family style company. You'll have to look up local ones for you but I would reach out to them and see what steps you need to take to get your desired role there.

[@dkarpel79]

Hey Mark. I own a property management company in L.A. and want to get into insurance. We have owners and tenants who need all kinds of lines of insurance. I've passed my exam(s) and am looking for next step. I have no experience and need training. I'm looking to be able to grow the property management business while simultaneously growing the insurance business. Would you recommend going the Farmers owner agency route? I can't imagine having someone breathing down my neck especially when this venture is just another revenue stream for us. Thoughts? :) Thanks in advance!

[@markwflockhart]

I would stay away from an exclusive agent route like Farmers or State Farm mainly because I would expect them to have requirements to make a specific volume of sales, commonly mixed with like insurance to where I can’t imagine it would be very profitable for you. It wouldn’t hurt to verify it but I can’t imagine it would be different, on top of, farmers and State Farm were the first ones to pause home, which usually includes renters in CA. It’s very restrictive at the moment. If you go independent, then you typically can write as needed with less requirements. On top of, you could likely get a progressive, Geico and Lemonade appointment, pending their openness in your state.

[@dkarpel79]

@@markwflockhartthank you for your thoughtful answer. It gave me things to think about. I do appreciate it! Thanks again!

[@WeSRT4]

I recently opened an agency... quickly figuring out that independent is the way to go. Problem is getting appointed with Auto Carriers. They all seem to be hibernating and not appointing any new agents. I may have to close things down because the carriers essentially don't want to be in the insurance business. Any suggestions?

[@markwflockhart]

I made a response. I hope this is helpful: kzbin.info/www/bejne/e3OXfaOHl8qDf8k