Exclusivefocus Summer 2012.pdf - National Association of ...

fed up with this company and its horrendousbusiness practices would be anunderstatement. I am not a young guy,bright-eyed and bushy-tailed. Plain andsimple, I am a middle-aged businessmanwho feels like he’s been had. I’ve cometo the conclusion that this company hasvery little hope going forward unlessTom Wilson and his failures become athing of the past — sooner rather thanlater. Today – almost the last day of themonth – I sat through another one oftheir ubiquitous meetings; a basic rehashof the same nonsense I’ve heard quarterlyfor better than a year. To conducta business meeting for a sales organizationduring the last week of the month isindicative of how out of touch these peopleare with the daily operations of thebusiness. What I see happening is thatleadership is cannibalizing the companyto realize short-term profitability. I onlyhope the shareholders catch on quickly.I apologize for taking the long wayaround this question, but frankly, I needsome help selling this thing. I am verywary of letting my FSL know that Iam thinking of this. As I understand it,NAPAA can help guide me through thisprocess. Any assistance provided wouldbe greatly appreciated.Thanks for everything that you andNAPAA do.Editor’s response: Yes, NAPAA doeshave some resources available to help sellyour agency. Currently, your best option isto find an outside buyer on your own andstrike a deal – which should include securinga substantial down payment and a signednon-disclosure agreement – before you presentanything to Allstate. That way, theydon’t know your book is for sale, giving youthe element of surprise. When your deal isready, you should present it to your RVP asdescribed in the R3001 Supplement. Manyagents make the mistake of telling theirFSL, which creates an immediate conflict ofinterest because the FSL, who earns a bonuson new hires, will try to line up a host ofpre-qualified buyers who seem to be schooledin low-ball tactics that will only hurt youin the end.We have several other resources availablein the member’s section of our website. TheAsset Purchase Agreement is reserved foragents who have been a member for two yearsor more. You can obtain this document onceyou’ve paid your 2nd year dues in full. Feelfree to contact us by telephone or by e-mailwith any specific questions you may have.One more question please, can TPP bevoluntary? In other words, can I throwup my hands and simply say, “I’m done”and receive TPP?Editor’s response: Yes, but you must givethe company 90 days notice.I am glad to know you are working thecommission shortage issue. I wish you thebest of luck on this. Give ‘em hell becauseI smell a rat in this... it just does not makesense. I am down 20% per month on myrenewals starting last December and therehas been no plausible explanation whatsoever.They just say it is all correct. WOW!I hope you catch them!Jim, I don’t think there is an agent inmy region who isn’t running scared or sickand tired of being put on the firing line.Have you heard about the meetingsthat they have started with folks whohave opened an agency within the lastyear? Those agents have to go beforeregional management with their businessplans in hand. I also understandthat two people from Home Office sit inwith them and the whole ordeal is put onvideo and tape recorded.I know that once they finish with thosewho have to go before this “board,” theywill start with everyone else. When doesthe madness stop, or does it?Editor’s response: Requiring agents to presenttheir business plan in front of all those ofthose managers is the ultimate in intimidationtactics. Apparently, they want agents toknow they are dead serious about achievingthe goals they set. Imagine what will happennext year when the agents who have missedtheir goals have to meet with them againnext year. This is management by intimidationand it will not stop until agents stand uptogether and say they’ve had enough – whichcan be done through NAPAA.A few months ago, I received a phonecall from a potential outside buyer whosaid he had been told that I wanted tosell and was given all the information regardingmy agency, including the informationfrom my CSRP. At the time, Ihad no interest in selling.What bothered me was that the buyerclaimed that he received my informationfrom Allstate upper management inmy region. I didn’t know that my resultsand my gross income were public knowledge.I immediately called the managerand asked where he had gotten informationthat I wanted to sell and he said myname was on a “list.” I said it would havebeen nice if I had been notified so I couldverify if it was true or not. He apologizedand he mentioned if I change my mind,let him know.I was curious if you have heard thisbeing done before? I guess any agencycould be “for sale” for the right price, butwhat happened with me is not, in myopinion, good business.Thanks for writing. Ethical managers askif they can share the agent’s information withpotential buyers. It seems that the company isdoing all it can to force tenured agents intoselling, which has led managers to engage inunscrupulous behavior. It sounds like managementin your region has identified you assomeone they would like to replace; otherwise,why would they even mention to anyone thatyou might be interested in selling? We don’tbelieve this is standard procedure in mostregions, but it is happening with increasingfrequency, as managers get more pressure tohire new agents.It appears the company continues toimplode as well as destroy people.Wanted to let you know I have beencontacted on a continuous basis by FSLswanting to recruit me as an Allstateagent, even though I was terminated almosttwo years ago.I have received form emails for the last56 — Exclusivefocus Summer 2012