Is this still a good opportunity to jump at with the restructuring of the contacts that agents are given now? As compared to the contracts that agents were getting a while back? From the research I've done, pre-2005 contracts were much more lucrative than those being offered today.

Also, can anyone tell me about take home pay/work schedule/lifestyle for a beginning agency owner? What are the minimums (that I plan on exceeding if given the chance) that one must meet to go from internship to contract with SF?

Any other positive or negative thoughts on the position and hiring process or anything else that has to do with State Farm?

TIA

Not an agent, but I went through about 90% of the process years ago or so. I do think it is a great company, but I heard the same thing back then. It's just not a lucrative and there is more risk linked to the agent now. It's basically impossible to NOT go into debt early on. I just didn't want to put myself in that type of situation. One of the guys I talked to during the "interview 2 current agents) portion and I keep in touch, and he has said he wouldn't recommend starting with State Farm to most people now a days. Just too many factors working against them. His own daughter wanted to do it, and he told her not to. She now works for an insurance brokerage firm. Just my 2 cents.

All depends on how much work you want to put in the first few years you won't make money until year 3 at least as long as you grow your agency with your book business it's great! I'll be an agent sometime next spring the first few years are going to be brutal but as long as you know this coming in by year 5 your gonna be doing some nice happy dances! The reason a lot of older agents are saying the things they are is that State Farm is now forcing the agents to be more than just Auto and Fire writer and be all around insurance agents selling Life, Mutual funds, retirement planning along with the auto and fire. I recommend State Farm if you love helping people achieve their dreams and actually care about your customer rather than just how much money you can make each year. The reason I say this is because the New agents that don't work out only get in for the money and normally never earn the contract.

I figured that it would be tough sledding the first few years, but have seen mixed reviews on the career/lifestyle after the initial break-in period. Some folks are saying that it's a great gig and that there is a lot of money to be made and then other are saying that it isn't worth it to possibly bury yourself in debt that early on.

I know that one doesn't have to buy the books from a previous agency owner through SF, if you make it through the whole process, the books are turned over to you or you open up a new agency and are subsidized by SF for a certain time period while the agency gets up and going. Does anyone have an idea as to which might be better, taking over an existing book or starting an agency from scratch? I think there could be positives & negatives to both.

I really appreciate the feedback from my OP, keep it coming guys. This is a decision that I am wrestling with quite a bit right now.

give me your email and I can give you a lot more details. A lot of it also has to do with what market you are in and who your sales leader is.

Thanks, 3!

Email sent you can remove your email if youd like

Hey Dirty-8 I have been an agent in Bryan-College Station for over a year now and can discuss in detail with you the benefits and hardships of the State Farm route. If you want you can email me at lance @ agentsnider.com

E-mail sent.

I'm am agent in austin email is in profile. Been at it over 5 years. Best career choice I made was owning my own business. Shoot me an email and I will be an open book. I will tell you this a lot of the top performing agents moved from the old contracts to the new contract