by LuckyT » Thu Sep 10, 2009 12:59 am
The background:
Worked in Automotive sales...and just started at Allstate on the 1st. Original salary offered was $ 24 + commission after I receive my license but never came to any particular agreement on the commission. Before I accepted the position I got the agent to agree to $ 30 + commission after licensing.
While the Economy was "normal" I did well in Automotive sales generally setting the benchmark for everyone else..... I have my own customer base of almost 500 to potentially add to his book of business. He knew this hiring me. I've been testing in the LRN - ACPR program and have finished my first block and have two courses left on the second block. After that I have three classes that are 180 min long then onto the insurance classes.
In my commission sheets from my car sales I have all of my customer's car insurance renewal information... dates, who they are insured with... etc...Since they're coming due for renewal on a frequent basis I'm ready to talk commission as I feel that I'm loosing money as the days pass.
The agent that hired me is ready to talk about it and has basically said "what do you have in mind ?".....He knows its money being lost as well.....I can bring these people in and want to do it before they renew elsewhere.....
Working previously with Allstate... Can you tell me what is a fair offer for commission. My first year in car sales I generated $ 328,000 in net profit alone...making an income of 85K..... I am very agressive and would like to make at least 70-100 my first year... and need help in knowing how I should structure my pay to get there. But at the same time, I want to have reasonable expectations going in.....
Thanks for your help
LuckyT
Worked in Automotive sales...and just started at Allstate on the 1st. Original salary offered was $ 24 + commission after I receive my license but never came to any particular agreement on the commission. Before I accepted the position I got the agent to agree to $ 30 + commission after licensing.
While the Economy was "normal" I did well in Automotive sales generally setting the benchmark for everyone else..... I have my own customer base of almost 500 to potentially add to his book of business. He knew this hiring me. I've been testing in the LRN - ACPR program and have finished my first block and have two courses left on the second block. After that I have three classes that are 180 min long then onto the insurance classes.
In my commission sheets from my car sales I have all of my customer's car insurance renewal information... dates, who they are insured with... etc...Since they're coming due for renewal on a frequent basis I'm ready to talk commission as I feel that I'm loosing money as the days pass.
The agent that hired me is ready to talk about it and has basically said "what do you have in mind ?".....He knows its money being lost as well.....I can bring these people in and want to do it before they renew elsewhere.....
Working previously with Allstate... Can you tell me what is a fair offer for commission. My first year in car sales I generated $ 328,000 in net profit alone...making an income of 85K..... I am very agressive and would like to make at least 70-100 my first year... and need help in knowing how I should structure my pay to get there. But at the same time, I want to have reasonable expectations going in.....
Thanks for your help
LuckyT
Posted: Thu Sep 10, 2009 07:11 am Post Subject:
Hi LuckyT,
But at the same time, I want to have reasonable expectations going in.....
Yes, that has to be there always...especially keeping with the global downturn. Did you share your car sales performance for the first year with your employer? I'd like to know his views regarding this.
Also would like you to share the reason for not coming to an agreement regarding your commission. Did you have a doubt regarding your conversion probabilities?
Steven
Posted: Thu Sep 10, 2009 01:03 pm Post Subject:
I did share my previous sales experience with him...He saw my original paystubs as well as my "washout sheets"......He originally wasnt going to offer me the position thinking I was "overqualified" or that my previous income would deter me from this which was a base of 24 (then 30) plus commission...Overqualified probably isnt the right word.......I wouldnt have gone to work there If I didnt feel like I could realize my potential in sales as I did in the Auto industry for several years .....
I felt like (and still do) that If there is opportunity for me to get paid for what I put in, I'll be fine - I just need the avenue and the tools.....I can provide the rest to make commission....
As for not coming to an agreement on commission beforehand, I was just ignorant to how it works and what I should expect....I wanted to leave the negotiation open on the commission until I got a feel for the business, how it works, and the income potential.....Otherwise I'd have been negotiating blindly...I know its backwards, but, I needed to go from a very sadly declining car biz to somewhere I could realize my potential in sales.....I will make my money, just want to be fair and realistic in what I ask for....I Can pick up the phone and have my very loyal customer base start filing in the front door of Allstate...And when I'm licensed, I'll pursue what doesnt file in the door......Just don't want to leave money on the table in this negotiation, Nor do I want to be unrealistic with my expectations.....
This is a small agency - One agent, One office manager/secretary and Me....BOB is very established and was purchased by this agent 12 yrs ago from a very established agent....
The basis for me starting was that:
I'd receive 30K salary for 37.5 hours/week
I'd test and recieve my license to sell
I'd then recieve commission on sales in addition to salary which would drop to 24K when I started getting commission (also negotiable?)
Posted: Sun Sep 13, 2009 12:48 am Post Subject:
Anyone? I want to talk with him next week and hope to get some input......My husband has a friend in the insurance business but it'll be a while before we can sit down with him.....
Thanks,
T
Posted: Mon Sep 14, 2009 07:28 am Post Subject:
Your skill sets are your assets and you can always make good use of them. But the conversion rate depends a lot upon the industry performance and the nature of business.
I Can pick up the phone and have my very loyal customer base start filing in the front door of Allstate
Definitely you can do it..but don't expect a 100% conversion immediately. There are a lot of other factors that might affect your success- the Allstate market reviews may not sound appealing to a lot of them!
You should give yourself the much needed time to have everything at your finger tips before your salary drops to 24k.. Roddick
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