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One of my clients gave me hell today. The area of conflict is the commission that I get. Apparently she has this idea that if she goes directly to the insurer to get the policy, she could get the product at a cheaper price (as she thought she don't have to pay the commission since she by-passed me). I told her that it is not true. Even if she decides to DIY (Do-It-Yourself), she will still have to pay the same premiums. Worst still, in times of claim, she would have to DIY as well.
This incident reveals the naviety of consumers. So you think you go to a buffet, help yourself to the food (because the waiter/waitress do not serve you), and then they'll charge you cheaper? So you think that by going to Macdonald's and becoming the waiter/waitress yourself (because YOU serve yourself the food), you are going to get a discount? Haha. No. On the contrary, whatever the corporation saves from the intermediatery, they keep it for themselves. So you think that IKEA really pass you the savings by having you put the furniture together yourself? Don't you think IKEA should PAY you instead for being the delivery-cum-installation man? How much is his effort worth? Since you are taking his job, why aren't you paid for it? So don't think that one can do everything yourself. Why don't you try to cook for yourself? Is it edible? How about make a shirt? Is it wearable? The best would be if you can built the house yourself. Then you can by-pass the property developers and save yourself a million dollars. Read more...[caption id="attachment_3464" align="alignright" width="150" caption="Photo by Gabriel M."][/caption]
One of my clients gave me hell today. The area of conflict is the commission that I get. Apparently she has this idea that if she goes directly to the insurer to get the policy, she could get the product at a cheaper price (as she thought she don't have to pay the commission since she by-passed me). I told her that it is not true. Even if she decides to DIY (Do-It-Yourself), she will still have to pay the same premiums. Worst still, in times of claim, she would have to DIY as well.
This incident reveals the naviety of consumers. So you think you go to a buffet, help yourself to the food (because the waiter/waitress do not serve you), and then they'll charge you cheaper? So you think that by going to Macdonald's and becoming the waiter/waitress yourself (because YOU serve yourself the food), you are going to get a discount? Haha. No. On the contrary, whatever the corporation saves from the intermediatery, they keep it for themselves. So you think that IKEA really pass you the savings by having you put the furniture together yourself? Don't you think IKEA should PAY you instead for being the delivery-cum-installation man? How much is his effort worth? Since you are taking his job, why aren't you paid for it? So don't think that one can do everything yourself. Why don't you try to cook for yourself? Is it edible? How about make a shirt? Is it wearable? The best would be if you can built the house yourself. Then you can by-pass the property developers and save yourself a million dollars. Read more...
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One of my clients gave me hell today. The area of conflict is the commission that I get. Apparently she has this idea that if she goes directly to the insurer to get the policy, she could get the product at a cheaper price (as she thought she don't have to pay the commission since she by-passed me). I told her that it is not true. Even if she decides to DIY (Do-It-Yourself), she will still have to pay the same premiums. Worst still, in times of claim, she would have to DIY as well.
This incident reveals the naviety of consumers. So you think you go to a buffet, help yourself to the food (because the waiter/waitress do not serve you), and then they'll charge you cheaper? So you think that by going to Macdonald's and becoming the waiter/waitress yourself (because YOU serve yourself the food), you are going to get a discount? Haha. No. On the contrary, whatever the corporation saves from the intermediatery, they keep it for themselves. So you think that IKEA really pass you the savings by having you put the furniture together yourself? Don't you think IKEA should PAY you instead for being the delivery-cum-installation man? How much is his effort worth? Since you are taking his job, why aren't you paid for it? So don't think that one can do everything yourself. Why don't you try to cook for yourself? Is it edible? How about make a shirt? Is it wearable? The best would be if you can built the house yourself. Then you can by-pass the property developers and save yourself a million dollars. Read more...
On IKEA part:
I bought a double-desker Bunk bed from IKEA but I paid IKEA for delivery and installation fee. So it is true that DIY does save some money.
On DIY the claims part:
It is short-sighted to think that your FA will be still working as FA or still with the same insurance company. Most likely after X number of years when the commissions are all paid to the agent, and when you need to make any claims, it is DIY. It is sad but true.