Quote:
Originally Posted by OMARORA
Dear all
I am newly licensed p&C and life & health insurance agent, want to buy small agency so i can have appointments from companies than i can grow, any suggestions ?
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I don't get posts like this, wouldn't it be much better to address professionals in your field rather than ask this question in a general forum?
My husband held a life&health insurance license for over ten years, I did the administrative assistant side of his business. Find an agent to work under for your first few years - you have a lot of ropes to learn. Make sure you are covered by E&O insurance.
Purchasing an established insurance agency with a book of established clientele is not as feasible as you might think, although my husband is out of the insurance business as a full-time career, he still has residual income from his books of business and he still maintains his license and services select clients. No one is going to hand over their book of business without a serious investment on your part... becaause they built their book of business based upon their reputation, they most likely will only sell their established agency to you if you prove yourself to be competent - not some greenhorn who is still wet behind the ears.
At any rate you are highly unlikely to find an established agency which is available for you to purchase by posting on random Internet boards - you need to network within your industry. You need to establish business relationships with brokers.
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