Chad’s Call With The Bad Agent | 7 Figure Annuity Sales Podcast | Ep. 236

On this week's episode, I'm going to talk about a call with a really bad agent.

Hello, everyone. This is Chad Owen, the annuity sales coach. And welcome to our show. This is Caleb north next to me. He's the really bad agent I'm going to be talking about. Oh, wait, I'm sorry. I said really bad, not just horrific, you know?

Who is this?

Hello, this is Chad Owen, the annuity sales coach.

Well, this is William m. Buttlicker.

Hello, Mr. Buttlicker. How may we help you?

Michael, I like the sound of your voice. You know what I'm gonna do? I'm gonna buy $1 million worth of paper products today.

See how it's done.

Thank you very much, sir. I don't think you'll regret it.

See what I did? You are the master.

There is one condition, Michael.

Yes?

You have to fire the salesman that treated me so terribly. Don't do it, Michael.

It's a million dollar sale. Yeah, Gotta clarify.

Yeah, we do gotta clarify. I think you'd actually do really good in this industry.

Thank you.

It's just, it's. It's hard because the dad slash mentor side wants to go. Okay, you know what? I know this would do better now for you, but I think what I'm having to do now would be way better in the long run because I remember and the tough side and anybody that's in this industry knows to write the numbers I write and do what I do. There's literally Tuesday through Thursday. You are gone all day.

Everything's reset.

It's. What do you mean?

Every week's a new.

Oh, yeah, every day.

There's no Build any kind of.

No residual nothing. And that's so true. And for someone who's young, that's going to eventually be starting a family, it would be good to watch him build this empire with me and really be able to.

Create a legacy. Because that is one of the things that is very challenging. I've been in sales since I was 18 years old, is every week is a new week. It doesn't matter what you did yesterday, let alone last week. It's, what are you doing now? That's all that matters. And that. That can be challenging. It can wear on you for sure. There's times where I just feel like, you know what? I just don't want to. And it's actually consistent, but I still do. You gotta be willing to do what others don't because you gotta be willing to do what others won't to get to where others aren't and so, in other words, you have someone that is willing to be dedicated, hard work, push, push, push. Make sure you're doing it right. And then you have the agents started going, hey, this is my sixth year here. I'm still not even writing a million a year. And that's not knocking it, because a lot of it has to be with. Has to do with. People want to do it, but they don't have the training to do it. But now that you know us, you can't use that excuse anymore because you just got to do it. It's amazing to me when someone goes, you know what? That $197 a month is just too much for me. And am I mocking that? Yes. Because most of the time they spend that on coffee alone or movies alone or eating out or whatever it is. And the common thread I see about billionaires is what they gave up in the beginning to get to where they are now, right now. I do not necessarily agree. My goal is to be a billionaire, but it's not at the sacrifice of my family. Sure. Because a lot of those guys will say, yeah, I gave up my family, my wife, my dad. I'm like, well, there's your problem. You don't give up close relationships for anything. They value relationships over money all day long. That. That's what I do. I'll take a relationship over. Over. I mean, if you said, and this is flat, if you said, hey, you can get rid of Caleb for a billion dollars, I'll give you a billion dollars. And you don't talk to him anymore. I tell them, keep your billion dollars. You know, I need something to pay the psychiatric bills that I have to do.

I'm the reason for the bills.

No, but I'm serious. I'll take a good relationship over money all day long. And there is no amount of money you can ever put in front of me to change that.

Yeah.

I've had somebody ask me, well, would you take a trillion dollars to hurt someone intentionally? I'm like, no, definitely not. Unless they really deserved it. No, I wouldn't, period. There's just no amount of money to jeopardize ethics and integrity. There's nothing. And that's why we do what we do. And it's interesting because I'm. I'm indirectly, accidentally going into our topic about a bad conversation I had with a bad agent.

Right.

And they were willing to jeopardize ethics and integrity. Well, I can't even say that because they don't have ethics and integrity.

They were pretty much non Existent conversation.

And I'm going, God, man, you are willing to mess people over for leads? Because he basically said, and I hit this a little bit about. A little. A little bit last week about. He said, if you give me leads, I'll sell any product you want me to, even if it's a bad product.

And I just. And I told him, I said, from this point on, there is nothing you could tell me that would persuade me to ever have you as a contracted agent, period. Yeah, and he tried a little bit. I said, this conversation's over. We're done. And I will. I mean, that was the kiss of death, man. You tell me you're wanting to mess over someone for some money or leads, it's done. Don't even bother trying to talk to me. And there is no point, except for maybe a come to Jesus moment where you just literally got your life together and you figured out you're a jerk and you need to figure you needed to start doing things right. But there better be some proof in that. And. Yeah, so there's my rant.

Yeah. That's why I encourage agents to really, really work, to not get to a place of desperation. And. And it's.

It's a tough concept. I agree with that. But there's so many people out there that we know. I mean, the Wolf of Wall street was created not out of desperation. It was out of greed. I mean, and they say, you know that movie, even though it's foul, you don't want to watch it. I mean, I try to watch the TV version and I was like, forget that. But, you know, this greed machine isn't out of desperation.

Right, Right. It's out of constant need for more.

It is. And it. I say this to my clients all the time and go, you will never see a movie made out of a fixed indexed annuity guy. I mean, it will make Seven Years in Tibet look like an action packed movie. Okay. Or Eat Love, Pray as an action packed movie. It just. Not that I've seen that all the way through because I fell asleep. But anyway, it's like we're watching a movie called Eat Love. Pray. Okay, you already lost me at the title. Well, eat and love. That's good. Well, pray. It's all good. It's just. It was a totally different type of prey anyway. Yeah, I do like P. Yeah, yeah. And I do like PR A Y. I agree. Okay.

I just, I think for most, like.

Why do you guys listen to me? I wonder that. I'm like going, I get so sidetracked all the time I'm like, I can't believe we actually have so many people. Listen to me.

I got a hunch they're over there just chuckling.

I hope I do have people. I actually have a guy who's in the Property and Casualty and I am trying to get him, and I will not say his last name, but David, you need to come over to the light side because once you get into the annuity side of things, it's so much easier. The Property and Casualty and Health Insurance and Medicare is just brain damage to me. Now I do have some agents that do Medicare and they love it. Sure. You know, they thrive off of it. That's just not my thing. And they have excitement about it and that's just their passion. Yeah, but man. Yeah, it's. I think honestly greed outweighs desperation a lot.

I think it does. I think the pro or the difference that I would, I would probably place on the 2 is that with this individual. I agree, I think it was greed because I think it was both.

I do agree it was both.

But there never seemed to be any indication that the values and the ethics and the morals were actually there to start with. It was just this desire for more. Whereas I think when you look at desperation, typically it's somebody that probably started out with the right intentions and they got into us between a rock and a hard place. And now all of a sudden there's this thing starts going on in the mind of, oh, am I willing to sacrifice this piece of my ethics and my integrity for, for the sake of getting this deal or whatever, whatever it might be. And it's. I think desperation takes probably a good hearted person and makes that wrong choice look more attractive. But those that actually have the ethics and integrity will stand firm in the midst of that.

You know what I find funny too is.

Boy, this is going to ruffle some feathers here, but I don't care. You know, you got people in desperate situations that are preyed on by people who are greedy people. And what do I mean by that? A lot of these organizations that basically get anybody writing any product at any time that aren't qualified, but they got these fancy clothes, fancy jet, fancy cars, lavish lifestyles, but they got all these quote unquote peasants working for them that don't even know what they're doing, don't even know how to do it. And they'll put people, they'll put agents in front of clients that they don't even know what they're doing, saying they'll give you Leads, which is off of a weird structure as it is. And I'm saying there are so many organizations that do this. Right. I mean it's, it's not one particular. There's. I can think right off of the top of my head about 15 different organizations where they, and this is through experience. They'll, they'll get people that don't know what they're doing and they'll tell them, oh, you need to call all your friends and all your family. And I'm like going, whether it's life insurance or annuities, you're, you're putting them in a situation. And I go, and I have to replace these products if I can, that are such dogs. That, why do they say such dogs? Because I like dogs.

Yeah, we use that, that term a lot. Dog index strategy, dog products.

I do.

Yeah, you say a lot.

Why do I do that? Anyway, two good dogs. They're cat products. So I could that. Because that would work better. A cap product that's even way better. But they, they prey on these people that are in desperate situations to feed, then fuel their own greed. I mean I will have a big red pickup truck no matter how wealthy I get, period. That's just what is. I don't care about fancy this, fancy that. My jeans are from Costco, my polo shirts from wherever we got the best deal on. That's a good shirt. I just, that's not how I work. My drive is making sure agents have the best products for each client situation. So we can grow together. We can all have success stories together. Yeah. And that's what it comes down to. So be careful, don't get desperate and don't surround yourself with people that their draw is, hey, look at my jet. Hey, look at my clothes. Hey, look at my car. Hey, look at my lifestyle. Hey, look at my. Whatever it is, look at my watch. Look at my. I mean I could go, I was in the jewelry business for years. And that. And still to this day, people will look at watch as a status. What they don't realize is when we sold these high end watches, a lot of them were sold on credit. They just wanted the status. And they would take a 10% interest rate to buy this watch. So they looked a certain way. And I'm not impressed ever by people's financial appearance. To me it's how much do you give, how much do you pour out, how much do you really want? What's best for people? And that's what it comes down to. And this agent just, I mean Caleb knows This. I was ruffled and ralled.

I haven't seen you like that in a minute.

No, because that just. There is nothing more triggering to me that you're willing to harm someone else for your gain. I mean, if you think about that, human trafficking, domestic violence, you know, unplanned pregnancies, things like that, where people are trying to harm someone else. And I don't care about ruffling feathers in that area. If I'm standing up for someone who needs to be stood up for, I'm going to make sure they're taken care of, and that's my priority. And this guy just flat out said he will mess over someone for a lead.

I just, just had this thought. You said, I don't mind ruffling feathers when I'm standing up for you, somebody that needs me to stand up for him. And I thought you were going to say, hey, heck, I won't even ruffle the feathers. I'll pluck that whole chicken.

Absolutely, I completely agree with that.

There's just.

Because if you think about it, if, if people's first thought, now, obviously you've got to take care of yourself, but if you're so focused on yourself, you're never going to pay attention to anyone else around you. So, yes, you need to be healthy. But if we always looked at what is the best for our clients, what is the best for our agents, what is the best for our friends, our family, then holy cow, how great would this world be? Yeah, I mean, that's just, that's where my passion is, is whose life do I get to change today? And not in a bad way, because you can change people's lives, both good and bad. But man, if we would just focus on this in our industry's bot, why do you think they got, oh, you're a life insurance salesperson or you're, you're an annuity person. Why? Because the products that they are pushing at the time, they, they, you know, I'll tell someone I am a horrible life insurance salesperson. And like, well, why? And said, because I'll only get you a life insurance policy if you need it. Because most, if you talk to a true life insurance salesperson, it doesn't matter what your financial situation situation is, you need life insurance, period. Now, if you're worth $5 million and you've got your estate taxes taken care of and everything structured right, and you don't need any life insurance, then no, you don't need that. Now, if you want to do some wealth preservation or you want to try and expand. Most the prominent billionaires in the United States have escalated wealth through life insurance. Right. So I don't have a problem with that. But, man, if you don't have to do that, don't sell it. They don't need an annuity. Don't sell it. If you don't have a product that meets what they need, don't sell it. If they require too much to live off of and there's no product that can meet that need, they don't sell it.

Right.

Period.

Yeah. That's why you say when you're calling leads, you're not. The, the intent is not. You're not calling them to book the appointment.

No.

You're calling them to qualify.

Qualify.

Figure out, is this somebody that I should meet with? And then if it is, okay, great, book the appointment.

So now you know, and I'm not knocking this because some people do very well at this, but that's why I don't have an appointment setter, because an appointment setter's number one job is to get the appointment. My number one job is to qualify and see if this is even a good match for them. Yeah. And I have no problem. I don't. I had a person just tell me today when I was making calls, they said they had 2003-000004-00000. I can't remember exactly. But they said, why are you wasting your time on me? I don't have that much. And I said, I don't care if you got 20 million or you got 100,000. I am trying to find a problem that you have and then have a solution to meet that problem. It's not about the dollar amount you have. Yeah. So that's my focal point right there.

Absolutely. You made a statement one time you talked about medical malpractice, and you equated what agents do sometimes to medical malpractice and basically called it financial malpractice. And in this particular instance, with this particular agent, they were willing to step into financial malpractice for the sake of. Of some deals.

And, and there are so many agents that do that consistently. I've seen agents that want to replace products that they personally sold five or six years ago. Yeah. And I want to say this guy's name so bad, but I'm not going to. But there's a guy in my area.

God, I'm not going to say it, but that I have seen the, the document he sends out to his clients telling them, well, I can get you an 8% bonus, which takes care of that 4% surrender charge you have. And he sold them with an income rider, so he doesn't even count. He shows their account value. The surrender value does not show the income value, but is purposely trying to get that person to replace it. Then I had another letter where he is referring people to his wife, which is now a broker, which you can't do that either. I can't tell you to go to a broker and because she does stocks, bonds and mutual funds and recommend that now a broker can refer someone to me, but I'm not supposed to refer to them and. Because it's an absolute conflict of interest. Right. His wife is a broker, so he's now getting. Trying to get people to surrender their annuities so she can build her business.

Wow. Yes.

After he already sold them, probably made it out of the first year. So there's not going to be a chart.

They're usually three to five years old. So there's still pretty good surrender charge. Yeah.

Yeah, that's rough, man.

So.

So just do the right thing.

Yes. My blood pressure is up.

15 minute podcast to say, do the right thing. Do treat your clients, you know, and.

And you can't say treat your client how you treat your mom, because a lot of people are not so Right. I had one agent say, oh, I was running, helping this client. And they go, yeah, this guy said he would sell his own product, his mom. And he said, yeah, he, he'd probably leave his mom destitute too. So, I mean, I've seen some horrific stories happen with family and I'm sure everybody here could tell me some too.

Well, I think it's a, it's a fundamental heart problem if you have to put somebody that you don't know well and think of them in line with somebody that you care about because you just don't care enough about that person to start with. That's like a fundamental heart mess over.

Me, but you won't mess over your mom. Right. You know, I'm going to mess over anybody. Right.

Just like even the concept of. And I get it like, golden rule, you treat people the way you want to be treated. It's like, okay, so I. Now I have to look at you with the selfish lens.

I want to treat you the right way, treat people better than I want to be treated.

Right.

I mean, that's honest me, I don't expect I'm going to treat you this way so I get treated that way. I mean, think about if you did that in marriage. You know, I'm going to treat you good. So you treat me good. No. Why don't you just treat them good?

Yeah.

Any relationship. Why don't you just treat them good? Because you're a good person. So. Yep. Okay. Soapbox there. It just. There's nothing. My number one fuse is when somebody is willing to hurt someone else for their own self gain. I just it and there's a lot of ways that can happen. But in our industry, we need to turn that around and we need to put our clients needs first with the best product, with full fact finding, with great training. And that's why it's worth the investment for you to get into our training academy to join our marketing organization. We are all about doing what's best for the client.

Yeah. I heard somebody say one time. Sorry, I always have these little. These little tag tags on the end. I heard somebody say one time. There's essentially zero risk in learning from somebody who does already what you want to do, the way you want to do it. The character there, the way is. Is a key piece but you're doing it. So learn from Chad.

Okay. Thanks for listening to my rant. Don't be that other person. And you have a great day. Happy selling.

Sam.