How to buy an Allstate agency?

Posted: Wed Jul 30, 2008 06:14 am Post Subject: Buying an allstate agency would give you an edge over others

Hi Brad, welcome to ampminsure :)

IMO being an allstate independent agent certainly has some advantages. There are a lot of things that you must know before buying an allstate agency and after, just hang tight, mate. the experienced agents of this board will soon rush to your help.

Posted: Wed Jul 30, 2008 08:39 am Post Subject:

Starting as an allstate independent agent without any prior experience in the insurance industry may pose some difficulties before the aspirant. Selling insurance is not similar to the other sales jobs. The understanding of the local market along with the product knowledge is very important to achieve success as an agent. I'd request you to evaluate all the aspects before buying an allstate agency very carefully .

Posted: Wed Jul 30, 2008 08:53 am Post Subject:

Are you truly aiming at buying an allstate agency now? You must understand this fact very clearly that as an allstate independent agent , you'll not receive any fixed remuneration, but commission. And for that you have to keep-on generating sufficient business, otherwise you may lose the agency status. However, the advantage of being an independent agent is that, there is no limit for earning, if you're good you can magnify your earning to any extent. Best of luck!!

Regards,
Juanita

Posted: Mon Aug 04, 2008 07:09 pm Post Subject:

Brad,

Welcome to ampminsure.

Your sales and marketing experience will help you in buying an allstate agency and in becoming a successful agent with them. But you will still need training on insurance and marketing support.

Ask questions about the amount and type of training that Allstate will provide to you for being an allstate independent agent.

It would not hurt to interview at a few other companies so you can judge the different options. You are making a big decision so it is good to be able to compare opportunities.

The disadvantage to signing up with a company like Allstate (or State Farm, Farmers, etc) is that you can only offer thier products. I was an agent before I became an independent broker and it always bothered me that I could only offer one company's product. But the experience and training as an agent helped me quite a bit as a broker.

A couple of important things to consider are: How much do you have to invest? How restrictive is the contract if you decide to leave AllState? Will you be given clients and how much income can you make from that?

Feel free to ask questions here. I'll do my best to help and I'm sure others will offer thier experience as well.

Posted: Sun Aug 24, 2008 01:17 am Post Subject: starting a exclusive agency

I have also entertained the idea of starting an Allstate agency , I have licenses in place and have over 10 years experience. The reason I want to be an Allstate agent is the opputunity to own my own business and unlimited earning potential.Also they have education,training and office support provided. I'm just worried the goals that will placed will be overwhelming. I did some research over the internet and read about some scare tactics used by Allstate in other states. Can someone advise ??

Posted: Sun Aug 24, 2008 02:26 pm Post Subject:

IMO it is best to get the knowledge and training in the insurance industry before buying an allstate agency or any other agency for that matter. I too have over 15 years of sales in the financial industry. I am working for a capitve agency now and there is alot to learn. I am gaining all the knowledge and training I can.
I know my boss has high goals in each product that must be met to maintain her status and receive certain marketing money.
I love the work, I love sales but the insurance industry is a whole new world.

Posted: Sun Sep 28, 2008 03:43 pm Post Subject:

I am an Allstate agent and would be more than willing to answer any questions regarding buying an allstate agency these days. I can do it here or via private message.

I looked into several companies, and independent, before making my choice to go with Allstate. Every company has "requirements" but the advantage I found with Allstate was that theirs were quite reasonable. You have to work hard - but that is just how it is - doesn't matter who you work for.

Computers, phones, internet connection is all provided by the company. You simply can't beat the advertising support either. You are also allowed to do advertising on top of what the company provides.

The list goes on and on.

Ask anything you want and I will do the best I can to answer.

Posted: Sun Sep 28, 2008 04:49 pm Post Subject:

Hello, Are you a captive company or do you have the ability to write for other companies too? What are the challenges one should expect to face while buying an allstate agency or similar agencies?
How long does it take to make decent money?

Posted: Sun Sep 28, 2008 05:02 pm Post Subject:

I am captive..chose to be that way. I purchased an existing book so I began "making money" immediately. Of course, there are bills to pay but...there was incoming cash flow from the first month on.

Posted: Sun Sep 28, 2008 05:18 pm Post Subject:

I was asking because some of the Allstates in my area write for progessive, farmers also.
I guess I was trying to figure which is better, Allstate, State farm or Nationwide.
What would you say a normal 1st year salary would be for a agent?