Many Insurance Brokers that are considering the sale of their agency have a variety of factors to consider. One of them is that there is no such thing as staying the same. Continue reading "For Insurance Agencies There is no Such Thing as Staying the Same"

Most of the Personal and Commercial Lines Insurance Agencies we speak with about selling internet leads often have the same response. “Oh yeah, we tried that months ago, spent thousands of dollars and didn’t get one sale out of them”. When we ask about their procedure for calling, quoting and selling internet leads, they often look at us puzzled. Continue reading "Selling Internet Leads can be profitable for Insurance Agencies"

One of the toughest challenges we face on a daily basis is the ability to verify  income of an insurance agency for sale. Insurance Agency Owners have a good idea how much each carrier pays them monthly but lack the paper trail buyers need. We have various posts on this very topic and it’s important for sellers to organize their accounting in order to sell their insurance agency. Continue reading "Add Value to your Insurance Agency by being Prepared before you Sell"

With a New Year upon us, many insurance agency owners are hoping to sell their agencies this year. Regardless of the bad economy, Insurance Agencies are still in demand and there is no shortage of buyers. There are a few things to remember when selling your insurance agency but your number one priority is preparation. Continue reading "Selling your Commercial or Personal Insurance Agency"

When a new quote calls or walks in to your agency, are you 100% confident you or your staff are doing everything possible to write the business? Below is a short list of do’s and don’ts that may help you in your next staff meeting. It’s important to emphasize to your staff the fact that at the end of the day, you’re a Sales Organization. Some Agency Owners will balk and say they’re a customer service organization first, but in reality, without sales, there’s nobody to service. Continue reading "Do’s and Dont’s for Operating your Insurance Agency"

There’s nothing like good old fashioned salesmanship to grow a business. Often times you get so caught up in the day to day functions of agency owner you don’t pay attention to the most vital part of the operation and that’s selling new business. Salesmanship is not practiced, taught or discussed in many agencies. It’s usually insurance talk, underwriting or personnel issues. You have to ask yourself whether or not your agency has a sales culture. If you have a sales culture, your service is second to none because everyone carries themselves like a commissioned salesperson. Every client is important, every sales opportunity will be closed and we give 100% effort to keep every account on the books. Continue reading "Selling New Business Stimulates Insurance Agency Growth"

Many insurance agency purchases are completed without an Escrow Company. While that’s fine if both buyer and seller have completed transactions in the past, first timers should consider using an escrow company. An Escrow Officer can outline your letter of intent into Escrow instructions. This will help your transaction stay organized and make sure everyone is handling their respective contingencies. They’ll also specify buyer and seller instructions to act as a guide for your transaction. One of the biggest benefits to using an Escrow Company is Continue reading "Using an Escrow Company when Selling Your Insurance Agency"

After you’ve invested years and/or decades into your insurance agency you finally decide to sell. You want to get out and not worry about who shows up and who doesn’t. You want to be rewarded in one lump sum for the years you’ve invested in your insurance agency. There are plenty of buyers in this market. Every day you receive emails from Brooke, various lenders and other companies telling you they want to buy your insurance agency. This may seem like a great opportunity but the fact is - they’re in the business of buying and selling businesses and you’re not. Continue reading "There’s a lot to Learn when Selling your Insurance Agency"

There are 2 types of sales people in the Personal Lines Insurance Business. Order takers and sales people. Order takers typically look for the low hanging fruit. The client is already on the phone, wants to buy today and has a means of payment. There are no objections and the effort required is minimal. They sell the product(s) they’re most familiar with so they “don’t have to deal with” another carriers software. Most agencies with more than a handful of agents have a few order takers on their staff. They’re the ones usually complaining about rates, the quality of leads, Continue reading "Personal Lines Order Taker or Sales Person"