MRL #055- 3 Myths About Selling With BORs DEBUNKED!

Max Revenue
December 11, 2023

There are a lot of misconceptions about BORs in our industry.

I learned this very early on. Day 1 to be exact.

You see… my first day as a Producer, my agency was acquired by one of the big boys.

And one of the first things they implemented was selling with BORs.

Of course, all of the legacy agents in our office started pitching a fit. They had a million objections.

It was actually funny to watch as a bunch of $500K Producers poo-poo’d what a bunch of $5MM Producers were teaching us.

I guess old dawgs can’t learn new tricks after all.

The legacy agent’s objections came in different variations, but, they basically all boiled down to these three misconceptions:

Fast forward a few years later…

Having seen the “Quoting vs. BOR” battle play out hundreds of times, up close and personal, I can say without a doubt:

When done correctly…

BORs are the fastest, most ethical, most effective way to build a book of business.

So, in today’s letter I’m going to go through each one of these common myths, and then debunk them.

If you want to grow and get better, you’ve got to break the false beliefs that are holding you back.

For many Producers, especially you old dawgs, it starts with BORs.

[Wink Wink]

Ok, let’s get started.

Myth #1: BORs Are Unethical

The argument(s) for BORs being “unethical” usually looks like one or more of the following:

All are equally stupid.

Let’s look at each…

You never make the BOR about the other agent. They’re about the insured’s needs, wants, and desires. You’re not dogging the other agent, you’re protecting the insured.
Agents who complain that BORs are stealing, are always the ones who are butt-hurt from losing to them. They don’t know how to sell them, so they scream bloody murder. This is business, not kindergarten. You don’t own that work, the client does.
Although some Producers abuse BORs, in my experience most do not. Mid-market insureds are also much more savvy these days. The majority know what BORs are, and how they work.

Myth #2: BORs Won’t Work Here

I love it when I hear this argument.

It shows how truly short-sighted much of our industry is.

You may think your market, or your niche is different.

But, it’s not.

The reality is, no matter where or what you sell, you’re still selling to humans… and human behavior doesn’t change.

Humans are hard wired for self preservation.

No insured wants their business or their livelihood to die.

I’ve talked with agents selling BORs in every corner of this country (yes… even in tight knit good ol’ boy markets)…

And in every niche you can think of (yes… even bid-happy niches like sub contractors).

So, if you’re not having success with BORs then it’s not a market or a niche problem, it’s a you problem.

You just don’t know how to properly position yourself… yet.