Prepaid Legal Review: Can You Trust This Legal Services Company?

Do you know that you can have unlimited access to over 50 independent local law firms for just about any legal matter?

With Prepaid Legal Services, your family or small business can reach a local law firm to consult about the legal side of your business. You can talk to lawyers about reviewing legal documents, auto and home mortgages, insurance policy claims and many more. If you are subscribed to Prepaid Legal Services, you can get legal assistance by phone for an affordable monthly subscription.

Pre-paid Legal Services Then and Now

Pre-paid Legal Services was founded on August 8, 1972 by Harland C. Stonecipher with headquarters in Ada, Oklahoma. After over three decades, the company now has over 1.5 million active subscribers in the United States and in Canada; providing them with specialized legal services. The company is publicly traded in the New York Stock Exchange so in my mind, there is no doubt they are serious and there is no Prepaid Legal scam.

The company uses multilevel marketing to promote their products and services which can be purchased individually or can also be used by owners of small businesses through payroll deduction.

Prepaid Legal Scam Or Just Sour Distributors?

As with any other businesses, Prepaid Legal Services also had its share of bad publicity. If you look up the company online, you will come across many statements and reviews claiming that there is a Prepaid Legal scam and that many people were allegedly cheated of their hard-earned money. The fact is that the multilevel marketing company gives advance commissions to their distributors in the assumption that the customers will keep their membership for at least a year. However, some customers decide to stop the service after only a few months. Naturally, the commissions will have to be returned to the company. I believe this is where the confusion come from.

The distributors who had to return some commissions to the company are the one claiming that they have been scammed by Prepaid Legal when they are just the one responsible for not building the business properly…

Is Pre-paid Legal Services Currently a Good MLM Business?

Doing research for this Prepaid Legal review, I found some staggering numbers (don’t quote me on those though). As of 2009, the company’s overall profit decreased by 85% and the number of existing distributors decreased by 17.8%. If you look at trends in the multilevel marketing industry, their numbers usually go up in times of financial crisis as more people look for other income streams. Taking this into consideration, you may find Pre-paid Legal declining figures discouraging. With that said, it is important to note that the service they are providing is different from other multilevel marketing companies.

If you think about it, it’s just like any other industry with periods of highs and lows but it doesn’t mean there is a Prepaid Legal scam. And there is no doubt that Pre-paid Legal Services is a legitimate multilevel marketing company that provides invaluable service to those who need it. This is especially true since hiring an attorney for a tax audit or remedying an insurance claim is very expensive.

You need to understand that your success depends on how hard you work on establishing your network and growing your business. Unless you invest time and effort, you won’t be seeing any returns in your investment. You need to widen your reach and leverage all the opportunities available to you.

Going Beyond a Prepaid Legal Review: How Do You Succeed With Prepaid Legal?

If you are seriously considering joining Prepaid Legal and build a successful business, then you must sponsor and train as many distributors as you can so you team can generate more commissions and duplicate fast. Understanding sales and marketing are the basics requirements.

Do you have plan for that? Where can you find all these new distributors? Can you only rely on your warm market? If you are not sure about all these questions and you clearly understand that you are going to run out of friends and family members pretty fast, then you must learn the game.

The answer is pretty simple. Your goal is to find hundreds and hundreds of people and point them to your system, to your business presentation. This is simple but not easy! Most likely, the best way to that is to use an attraction marketing system that will teach you how and allow you to funnel all the traffic to capture pages and training. If the system and marketing funnel are set up properly, it is possible to generate dozens of leads, day after day, 24/7/365 and generate upfront cash-flow for your business while building your team!

Agent’s Commission – How Much Should A Seller Pay?

When selling a house – is it practical for you to have it done through a real estate agent? If you want it sold fast, then the most logical thing to do is have it listed through an agent. These professional experts have experiences that can expedite the sale. But some are wary about employing an agent because of the commission outlay, an amount which could be quite material.

How much commission does a house seller have to pay to his agent? This has been a perennial question asked by a seller? Maybe there had been no straightforward answer given to this. All that has been divulged is that the agent’s commission is a percentage of the total contract price of the property sold. And that the commission is paid upon culmination of the transaction.

The truth about commission- there is no standard and legal commission rate. In reality, the setting of a fixed commission by real estate agencies is prohibited. This could be the reason why the amount of commission is not clear. Each agency has its own rate.

Real estate agencies can actually charge any commission they would want. It all depends on the people, the seller for that matter – how much this seller is willing to share to his or her agent from the proceeds of the sale. The commission can be very high as there is no ceiling. What keeps it down and reasonable is competition. Even in this setting of commission – the economic law of supply and demand seems to penetrate. The presence of many agents keeps the price down.

The commission is internal arrangement between the agency and the agents. The company can set a maximum and minimum rate for the agents and the latter are allowed to negotiate the commission with the clients. If the agent is under a broker, the commission has to be shared between them. Upon listing of the property, the agent already has stipulated the percentage of commission to be set upon sale. If this agent wants to lower this percentage, he has first to seek approval from his supervising broker. This can be done as there really is no fixed commission rate and the arrangement of rate is just internal.

But then there is one restriction – the agent can never divulge to other real estate agents the amount of commission to be put on top of the selling price. And in the same manner, real estate companies are not supposed to expose to any agent outside of the company their implemented rate. The commission earned on the sale is a split between the listing company or broker and the agent. The sharing between them is again a matter of agreement in-between.

Whatever is the amount of commission, a seller should know that he or she can haggle with it. The rate of commission, in this stiff competition, is negotiable. The seller can always search for better deal which will mean less expense for him or her.

Prepaid Legal Review – Learn What Your Upline Doesn’t Know and Can’t Teach You

Let’s review Prepaid Legal. They are a company, that for a monthly fee, one obtains a membership which provides legal counsel whenever necessary. Prepaid was founded in 1969 by Harland Stonecipher. Though it did not begin as an MLM company, it was recognized as such by the 1980s. By the late 90s, at prepaid Legal was considered the 33rd fastest-growing company on the NYSE.Prepaid is also the listed on Forbes 200 best small companies list.

So how does Prepaid Legal work? For around $300 per year, a customer purchases on annual membership. $17 and $26 monthly plans are available. These plans make available to you legal advice on everything from writing wills, buying homes or just be familiar with your basic legal rights. There are more than 60,000 legal forms on the website and members can utilize. Essentially, members use the phone number on their membership card to contact a lawyer that specializes in the area they need help in.Plans vary by state.

So why would anyone want to use Prepaid Legal services? It’s probably easier than panning through the phonebook looking for a lawyer’s number that you need. The company points out that only the wealthiest 10% of people use legal services on a regular basis, and since the rest of us don’t, we might be at a disadvantage.Is the service necessary?
My opinion is not important, since over 1 million people have decided is necessary.

If you want to have a Prepaid Legal business, there is little more that needs to be mentioned. Apparently, the only way you can join, is by filling out an application for enrollment through their website. It costs $49 to start up a business and this includes materials, training, support, Prepaid Marketing Services, marketing supplies and Online Associate Services. Prepaid Legal is very excited about their timing in this industry. They state they are at 2/10 of 1% of growth potential and don’t anticipate critical mass hitting until 2%. Critical Mass is when a company reaches a point where they grow tremendously in a short amount of time. In my opinion, a good time to join a company is before they hit critical mass.

I found a compensation plan a bit of a challenge to comprehend. Prepaid Legal Associates are paid in three different ways. The first way to get paid is by getting commissions on every membership to Prepaid Legal that you sell. The second way to get paid is when you sign-up other people into the business and receive commissions for that. The final way to get paid is via residual income on your team’s success. The part that confused me was that they pay on five different levels according to how many memberships you sell per month. Also, they pay you an advance commission for the annual memberships they sell. For example, if you sell a Prepaid Legal membership to someone, you get paid a years worth of commission. But, if that person cancels their membership before the year is up I will get what is called a “chargeback”. A chargeback is exactly what it sounds like it is. You have to pay back any commissions earned by member cancels early. I’m not a fan.

Traditionally, when joining a company like this, you’re going to be taught approach every person you’ve ever known and try to get them to either sign on as a member or join your team. Let’s face it folks, this is the hard way of doing things. Wouldn’t you rather talk to people that actually care about joining a network marketing company? Wouldn’t you rather use a pain-free, surefire way to gain success in this industry?