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Farmers Insurance Agency - Acquisition Opportunities

Farmers Insurance Albuquerque Full-Time
$50,000.00 - $250,000.00 / year
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Job Description:

Farmers is interested in entrepreneurial-minded individuals who want be their own boss and run a business with unlimited earning potential. At Farmers, we give you a unique opportunity to "Build or Buy" an agency. We also have the award winning University of Farmers to help train and support you and your staff. There are great benefits to becoming a Farmers agency owner including ongoing commissions for every active policy. Farmers has introduced a two new entry points for new agency owners to take over an existing book of business ( Acquisition & Seed Program )

***In order to qualify for either program, the candidate MUST be capitalized***

  • Minimum of $50,000.  This can come from Liquid Assets, Available Lines of Credit, and up to half of your retirement package.

Acquisition Program

 

The Agency Acquisitions program provides lucrative financial incentives to capitalized external candidates that purchase the service and commission rights from existing Farmers Agents. The candidate receives the full service commissions upon acquisition.  This is a purchase directly from a prior agent.

The Candidate

  • Proven background in the business environment; either managing or building, etc.
  • The desire to build and grown an existing business
  • Decisions made with ROI and cash flow in mind

Performance

  • The motivation to work hard and take risks to achieve financial success
  • Willing and able to make investments into business opportunities for future gain
  • The willingness to accept responsibility for personal success and failures

The Benefits

 

Economic Interest

  • Contract Value according to the terms of the appointment agreement

Office Start-up Bonus Program - only applicable to agency acquisitions involving less than 1,000 P&C policies in force

  • Up to $10,000 bonus to reimburse office startup expenses

Monthly Marketing Bonus - only applicable to agency acquisitions involving less than 1,000 P&C policies in force

  • $300 per month if bonus qualifications goals are met

Monthly Bonus Based on Net NB Commissions - only applicable to agency acquisitions involving less than 1,000 P&C policies in force

  • Bonus opportunity based on applicable monthly net new business commissions and applicable production for up to three years
  • Bonuses based on Life and Commercial Commissions subject to specified maximum amounts

Graduation Bonus Based on Net NB Commissions - only applicable to agency acquisitions involving less than 1,000 P&C policies in force

  • One-time bonus based on applicable net new business commissions and applicable production
  • Bonuses based on Life and Commercial commissions subject to the specified maximum amounts

Bonus Based on Reserve or Associate Program Net NB Commissions - only applicable to agency acquisitions involving less than 1,000 P&C policies in force

  • One-time bonus based on net new business commissions while on the Reserve Agent Program or Associate Agent Program
  • Bonuses paid subject to specified maximum amounts

Seed Program:


The Seed program is a unique and powerful succession planning tool that provides you the ability to transfer full commission rights of existing policies to qualified external candidates with the ability to earn full commission rights. The candidate receives the benefit of immediate revenue without the cost of acquisition.  This is an opportunity where Farmers gives you a book of business.

The Candidate

  • Proven background in the business environment; either managing or building, etc.
  • The desire to build and grow a residual income business opportunity

Self-Motivation and Independence

  • Effective time-management skills and self-reliance to accomplish goals
  • The ability to identify and focus on priorities

The Benefits


Earning Full Commission Rights

  • Immediate ability to cross sell policies and earn full commission right

Office Start-up Bonus Program

  • Up to $10,000 bonus to reimburse office startup expenses

Requirements


The qualified Insurance Sales Agent candidate will have at least a high school diploma, although a college degree is preferred.

The ideal Farmers Agent will also have:
• Sales and/or customer service experience
• Excellent communication skills both written and verbal
• Entrepreneurial spirit with a fearless and positive attitude
• Self-motivation and goal-orientation
• Strong organizational, time management and follow-through skills
• Desire to continually learn new products and services
• Desire to be active in the community
• Good credit history with no bankruptcies for the past 3 years.
• A favorable criminal record - no Felonies

Licensing Requirements

  • Obtain Property & Casualty License
  • Obtain Life & Health License
  • Obtain Series 6 License
  • Obtain Series 63 License



  • High School degree
  • Satisfactory Background check
  • Capital requirement
  •    

Skills required

Address Prospective Client
Negotiation
Identifying New Prospects
Customer Service
Financial Services
Customer Retention
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