I’m An Insurance Producer. I Want To Relocate. Will Another Agency Hire Me?

This one is easy.  Yes – agencies will always hire successful salespeople!  However, you need compelling reasons beyond what you previously sold. 

• Show that you have thought about the process beyond the physical move. Research the market.
• Prepare a business plan focusing on the short term (30, 60, 90 180 days out)
• Obtain a copy of your non-compete
• Outline an honest timeline of your future success (aka, how long will it take you to validate).

This is the #1 way to create intrigue with agencies.  There are two types of producers.

1. Generalists: They write whatever comes across their desk
2. Vertical Specialists: They target accounts in specific areas based on synergy, market access and account size.

Which one of these seems easier to replicate?  I find a lot of producers are specialists but have never thought to tailor their identity. Does this mean one type of account is the only thing you write?  No, but I have found producers who tout areas of expertise are imminently more hirable.

Do you know how I can tell if someone is serious about moving?  I ask them why they want to move.  Look, moving sucks.  It really sucks.  There has to be a good reason that is compelling you to pick up your life, uproot your family and move.  If you can’t state why you want to move in less than two sentences then you need to rethink relocation.  Even worse than a convoluted answer is an undefined answer.  If you are interviewing for a job and your answer is, “I don’t know, I’m just exploring my options.” that’s a big turn off. 

Compensation is the most important factor to weigh in your relocation job search.  Plan on taking a pay cut. There are only two ways to avoid a hit to your earnings in the first 24 months of relocation.

1. Your book of business follows
2. You assume an existing book of business
3. You leave sales and move into management

I caution people when sharing current compensation not to let agencies think that’s their firm requirement. Instead, speak in ranges or minimums. No agency wants you to live in financial ruin while rebuilding your book. This may be a case where the base is modest, but the commission plan is huge. You know what works for your personal financial situation. Look at worst case scenarios with your family and plan a new budget accordingly.

Finally, you need to know how much it will cost your family to move.  Just a heads up, it has been my experience that most agencies don’t pay for a pack and move for two reasons.

1. You knocked on their door first. Its different if they sought you out in this move.
2. This is an opportunity hire. They aren’t hiring you for a formal opening that was budgeted.   

Signing bonuses are a really effective tool in the offer process. The money can be applied to relocation expenses or bridge a gap income that you’re walking away from (say commissions coming due or a smaller guaranteed draw).