New insurance agents are estimated to have a success rate of 30 to 50%, and this figure gradually decreases over time. The rate can vary depending on several factors, such as the amount of training the agent receives, the available tutoring, and the agent's general outlook. Once you've determined your revenue goals and reverse-engineered them to achieve them, I encourage you to focus on developing your business with dedication. It's important that you don't give up on your dreams. In this industry, 93% of agents don't fail because they fail at their job.
The only real failure occurs when you give up pursuing your aspirations. Even if you're in a comfortable position, for example, within the income group of the richest 15%, it's essential that you keep working hard and growing. However, we estimate that 90 to 95% of agents resign within the first 12 months after receiving their license. The only way to not quit smoking is to get the best marketing and sales support for new insurance agents from people who have trained and trained successful insurance agents for more than 40 years. An insurance agent must be prepared to invest their time and attention in developing and maintaining lasting relationships with customers.
While it's difficult to determine exactly what percentage of insurance agents fail to succeed in the industry, most of those who don't succeed succumb to common mistakes that can be avoided with diligence, patience, and hard work. One of the biggest mistakes new insurance agents make is to assume that they are going to be successful from the start. Insurance can be a lucrative career, but you must be willing to work hard to achieve it. Like most sellers, insurance agents have the added challenge of discrediting the “used car salesman” stigma. It's incredibly rewarding to collaborate with agents on my team who are posting live, creating their own YouTube channels and producing valuable content.
There are an overwhelming number of insurance products on the market and it can be difficult to keep up with all the options. The challenge of this process is that many agents fail because they enter the business thinking that they are only selling life insurance. The independent marketing organization will then train the insurance agent to ask a few questions and learn a sales presentation that only sells one product. While a customer's easy access to information may seem like an inconvenience for an insurance agent, potential customers still need guidance. Most independent marketing organizations train insurance agents on all the products they want them to sell. If you're wondering what that is, check out my book The Official Guide to Selling Insurance for New Agents.
Most agents define “difficult times” as those periods when no one wants to buy, no one is interested, you've made 10 appointments and no one has bought, and you're about to lose your mind. There is a 95% failure rate among new agents who engage in financial sales, and most of the agents who survive struggle to earn mediocre income.
