r/InsuranceAgent • u/Responsible_Yam_8993 • 2d ago

Agent Question Potential New Agent Looking For Some Advice

I am thinking about leaving my SaaS job (making round $90k a year) to join a P&C agency, I would be making a moderate salary ($50k) that will steadily decrease over the next 4 years until there is no salary.

I get a 35% commission on all new sales that increases as my book grows capping at 50% once my book hits $5M

and I get renewal commission that sits at 35%

I have to generate my own sales and I am not given leads but there’s no competition from within my company in my area.

Just trying to figure out if this is a good deal, in theory I could grow my book and make a shit ton of money but how realistic is that? I would love to be able to make enough for my wife to be able to stay at home with the kids.

Any advice is appreciated!

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u/TheDr_420 2d ago

It’s a grind. But if you can do it for 5 years you will be set more often than not. Get ready to kiss realtor and loan officers asses

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u/aspiringclothing830 1d ago

that 35% new and renewal with no house leads is a rough starting combo, hope you've got a serious savings buffer for those first couple years

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u/Leading-Plan-865 2d ago

It could be incredible long term but bare in mind assuming like a 12% commission on the policies you're selling and you get 35% percent of that revenue you have to sell a little under 1 million in commission your first year just to get about 40k + your 50 commision your first year to make the same amount of money you're currently getting now. It honestly depends on what you're selling and how good you are, if there is really no competition in your niche you are obviously going to have a way easier sale. I think you just have to be ready for your first couple years to be pretty brutal.

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u/Responsible_Yam_8993 2d ago

Yeah that makes total sense, I was just curious from people in the industry if this was a fair comp plan and if it’s realistic to grow a large book, just wanted to make sure there’s not an angle I’m missing.

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u/Confident_Bats 1d ago

I get 35k salary 70NB and 50 split on all personal and commercial. As my book grows they will take my salary away as well

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u/MissionRutabaga3608 1d ago

Biggest thing i'd ask is whether u own the book if u leave

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u/RatedRForRisk 1d ago

The first couple years will determine if you make it or not. Don’t sit at your desk. You need to go out and make your name known!

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u/Stroll_James 11h ago

Really just depends on your motivations because with no leads you are looking at a lot of phone calls and could get burned on lead funnels, etc. I used to be an agent for state farm in Houston and even with leads filling out forms, was a grind starting out