Best Annuity Business Practices | 7 Figure Annuity Sales Podcast | Ep. 113

Hello everyone. Chad Owen, the annuity sales coach, owner of Retirement Realized Financial and Retirement Realized Agents Academy. We've decided to do a new format with these podcasts because we really want to be able to reach the bigger audience as well. Helping people on YouTube, I mean, it's a lot. I used to do the live drive vlogs and I got away from that just because of time. So I really wanted to create an additional format my team came up with and I think it's a great idea. Also decided to have my son in law here. Creative. It's not creative. You're not creative at all. No aunties and agent relations. Agent relations specialist. See, this is going to be a lot more fun too because there's always good jobs, right?

Yeah.

So what do you got for me?

Well, I think today we'll talk a little bit about best practices, kind of looking at what are some things agents can do regardless of where they're at in their business. I mean, it's easy to get specific, but we're talking to a broad audience. Let's approach it that way. What are some things agents can do if you. If their business is slow or if their business is really ramped up and it's going strong?

You know what, it doesn't matter what if you're writing a ton of business or not. It's consistency. Always. I mean, sometimes I take some very long vacations, not this year, obviously, but I sometimes take some long vacations and I come in and I'm like, it takes me a week, two, three weeks to get the pipeline built up. But I know if I'm consistent in my presentation, consistent in my leads, consistent in the way I help clients. Everything rebounding revolves around helping my clients. So it doesn't matter if I'm right a ton of business or I'm having a dry spell. It's always about consistency.

Yeah, that's. I actually saw a thing on, I think it was LinkedIn the other day. It says actions speak louder than words. Consistency speaks louder than both. It's like you've got an action, you can do an action once. But it's.

You liked my post, huh?

Wait, was that yours?

No.

Oh, okay. I was like, no way.

You said wise words, like really probably had to come from me.

But it's true, right?

Consist.

It really does. When you can do something really, really well, but you can do something really well time and time and time again, it speaks even louder and really consistency for you, that would really play into your ability to. You call it roboticism being Being like, robotic on the phones when you're talking to people. Not that you lose the human element of your voice, but that it's.

It's just consistent.

It's just there. You just do it.

I mean, the reality is everybody that approaches me has the same problem. For some reason or something, they don't like the idea or a market volatility. So they have concerns about that. Now, whether they move forward, that's up to them. But they usually approach because they don't like something that's going on with their retirement. So that's why it's so easy to be consistent on that, because we know. Why'd you call me? You want something better for your retirement or you want a better option that's out there.

That's good. That's good. And consistency will help you refine what you're saying and what you're doing in that process to help them better. But to where you're doing it in a way that it's. In each case, it's almost. It's just like clockwork. It just becomes that. That's great. How would you recommend somebody going from a tight budget to a surplus where there's some keys there, some steps there?

Yeah, I mean, it's tight budget. Honestly, it's very rare. I know of someone that has a tight budget. You know, I mean, tight budget means you can't afford your coffee. Tight budget means you're barely paying for, you know, your rent. Tight budget means you're not eating out. That's a tight budget.

Cable television.

Yeah, cable television. I mean, it's so funny. When I was in the life insurance industry, somebody would say, well, I don't want to pay for leads. You know, they're $20 a piece. But then they were confused why somebody didn't pay $20 a month for their life insurance. I'm going, wait a second. You're saying they're not willing to give up their cable bill for life insurance, but you're not willing to give up your cable bill for a lead. So it's once again, it's very rare, tight budget. But you know what? We go back to consistency.

Sure.

If you're making the most of every situation you're in and you're truly in your heart wanting to help people, you're gonna be getting deals. It's just. It's just that the solution to a problem is contagious. You know, if you sit there and you have this problem and you have a solution, you're gonna want a cure for it. But Then once you get that cure, it's going to be like this addictive thing because you're addicted to the volatility of the market and then you want to get out of it, then you're addicted to, why don't I have to worry about the market anymore? And so the solution is like, man, you, you want a solution for this, a solution for that. So one solution causes others to be more attractive. So in other words, I mark a volatility. So what's the solution? Safety and security. What does that do? Protect your money for the rest of your life. What does that do? Protect your income for the rest of your life. What does that do? Give you peace of mind, where you're out on a vacation or something, retired and you don't have to worry about where the market is. So it's that same cycle that goes on where you just go, you find a problem, you find this solution, you find a problem, you find the solution. All of our products are consistent enough to where we're gonna know what safety and security is and what's best for them. That's what it comes down to.

Sure. And it seems like the longer you do it, the more common certain problems become. I mean, it becomes a deal. Like you say, with consistency. It's not only your process being consist consistent, but there's elements of the process within the client base themselves that become consistent. Objections just about seem like everybody's got the same things to say. So it's just clockwork there.

I hate annuities. Which are the nine, do you not? Like I use two of them. You know, I'm not a big variable person. I don't think you need to risk me. I don't think you need to pay high fees.

Sure.

But if they want to do it, it's their money, their decision. I'm not going to tell them not to. Or two. But if you're telling me one safety and security. You have to pick something that matches that. So yeah, it's the same thing every time.

That's good, that's good. So there's just consistency throughout. Love it. Where would you tell somebody to start if they were just getting into the industry? Where? I mean, what, what are some of the first things they need to do? Practically.

Definitely sign up for inner circle first. That's absolutely, that's an absolute must. No, I mean it's getting to become an expert in what you do. And when it comes down to it, I see people test their knowledge on their clients. Well, wait a second, what are you doing? You're learning how to do this on somebody's retirement that's been doing this for 20 or 30 years. That doesn't make sense.

Right.

Become the expert. So always, always start off with learning your product, studying it, going in detail. You always want to be very, very careful on that.

That's good. And there's ways that you can become better. There's tons of different resources. Right. What ways they can, they can do that. I mean we talk about even doing mocks with, with family or friends or somebody that's willing to listen, get on.

Practice over and over and over again. And if you're part of the academy, of course go through the platform. I mean, there's some people on there that have been doing this for six, seven, eight months, sometimes a year, and they haven't even tapped in the platform yet. And they wonder why they're still at the same place they were.

Right.

You know, if I'm going to education, if I'm paying for education.

You're going to utilize.

I'm going to utilize it. But I even look at it, even if it didn't cost me something, but it will cost someone something. So if I don't get educated and it cost you something, I still better be an expert.

Sure.

Sometimes people think, well, it doesn't cost me anything if I don't go through it. But what does it cost the person you're talking to?

Yeah.

You know, what their retirement, what does it do there?

It's, yeah, well, and then you get into the whole thing of you lose the deal because you're not the expert and then it really does cost you.

But once again, I don't, I just don't focus on the deal. I focus on the solution. The symptom is the deal.

Sure.

I don't focus on trying to get the deal. If you're trying to truly in your heart do what's best for the client. The symptom is getting the deal.

That's good.

You know, that's really what it comes down to. Why would I sit there first? I need the deal. I need the deal. I need the deal. Why wouldn't it be better? Just go, I need to find a solution. I need to find. I need to help them. I need to help them. I mean, it just doesn't make sense to me when people focus on the commission, the deal. It just doesn't make sense to me.

The deal is the byproduct of a helpful experts process.

100%.

That's good. I love that. I love that. Now where can an agent practically go to get information on things like that? Can they?

I mean, insurance company, because insurance companies are great, but insurance are obviously always biased to their own product.

That's true.

Marketing organizations are always biased to the products they use. So this is why, you know, in our academy, it doesn't matter if you're with us or not. If you're partnered with another organization, that's fine. My number one thing is to train. I love doing this. I talk to agents all the time. They go, well, why do you do this? Because I know if you're paying, let's say the pro plus the pro level of $97 a month. Okay. So for an entire year I got about 1200. If you know what it costs to build these platforms, that's next to nothing. Say, why are you doing this? Because they know what I make on an annuity. It's because I want to help people in the industry. That's really what I want to do. I mean, if I took, if I wanted to drop the entire academy thing, I could, and it would save a lot of time, a lot of energy, a lot of effort. But the reality is I'm so tired of meeting with clients. And they go, yeah, I met with four people before and I look what they said and what they left or didn't leave. I'm going, that's a black eyed our industry. So I really want to help change our industry.

Yeah, that's great. And I've actually got the opportunity to do a podcast before where I talked about it being a help industry. Right. Even as people like myself, not necessarily an actively producing agent, you are. So you are helping clients in that way. But I get to help agents, advisors who help people. And so there's, there's all these different avenues of help. And I talked about how when you approach it with that mindset, and that's really your desire, clients know, they know it, they can hear it in your voice, they can sense it. And I know of agents that are just barely starting out that there's such a sincerity and a genuineness in their voice and the way that they talk on the phone that it's like they're booking appointments. They may not have all of the best objection handling scripts and all these things to look at and read off of, but they're genuine and they can, the client can tell that they want to help and it goes a long way. Really does. Absolutely amazing. Well, cool. I think that pretty well wraps us up for this one.

That's an easy one, A lot better when you do most of the talking.

No, don't take that to heart. It's not. Be quiet. Okay, we'll talk to you guys later. And once again, as you know, happy selling.