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Keller Williams grows to second largest brokerage in America

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Keller Williams’ growth

Keller Williams Realty, Inc. (KW) has announced at their agent count now places them as the second largest real estate brokerage in America.

Including their Canadian agents, KW had 79,315 agents and 701 market centers at the end of 2010, up 13% from 2009. The brokerage aims to add 75,000 more agents by 2020.

Mark Willis, CEO of KW notes that profit share rose 7.2% in 2010 to $34.6 million garnered by agents. KW announced the volume of contracts closed volume was up 9% and contracts closed in units was up 6% as well.

Since 2005, KW has increased in number of agents by 30%, and number of market centers has risen by 40%. Size may not be everything, but KW also rose 21% in closed units.

Do you think KW will meet their goal of adding 75,000 agents in ten years or is another brokerage poised to take the top spot by 2020?

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27 Comments

27 Comments

  1. Sheila Rasak

    April 18, 2011 at 1:12 am

    Rapid growth? Let's talk about who's winning awards for number one in overall seller satisfaction by JD Powers & Assoc. 😉

  2. Jim Duncan

    April 18, 2011 at 7:03 am

    I'd rather see a press release for "franchise reaches new milestone – 85% of its Realtors have closed five transactions in the past 3 years!"

    Size matters when you're talking about residuals and downlines.

    • Debbie Ross

      April 20, 2011 at 1:46 pm

      My husband and I close over 100 transactions per year and joined KW last year after 20 yrs with another high image firm. Our revenues are up, our expenses are waaayyyy down and our staff and agents are actively engaged in the extremely productive sales training development available year round. For my husband and I, the reality of profit share makes eventually moving out of the business a reality rather than a dream. It's amazing how exciting it can be to see that extra deposit on the bank statement on the 21st of every month! I'm about results and KW has delivered for us. I'm hopeful every real estate agent can experience this type of success in real estate and in life. Have a great day and take good care.

  3. Matthew Thomson

    April 18, 2011 at 9:29 am

    Sheila, we'll take our 3 consecutive years of JD Powers Highest overall satisfaction for buyers!
    KW talks about growth because we understand that it's the best way to overall profit. What so many people don't get, and Jim, I'll cautiously throw you in this category, is that size doesn't matter for downlines and residuals.
    We are not a revenue company. We are not a MLM company. We are a profit sharing company. If I have 35 agents in my downline, none of whom are generating profit, I get $0.
    Our company focuses on size for 2 reasons. 1, the more productive agents you have, the more productive your company. And 2, those of us who truly believe in the KW models know that the more agents we have, the more agents lives are being transformed.
    I could go into my personal story of how being with KW has quite literally changed my life, but that'd be blog hogging!

  4. MH for Movoto

    April 18, 2011 at 1:27 pm

    Good for KW! They're a great brokerage. We partner with a lot of their agents and have received a lot of fantastic feedback from very happy clients.

  5. Ted Mackel

    April 20, 2011 at 11:58 pm

    Bottom line for me was I took my Brokerage expenses at my old Broker and compared them to the Brokerage expenses I would have at KW. Because the of the ANNUAL CAP on my Brokerage expenses offered by KW, it was very easy to decide if taking home the savings to my wife and 4 children was more inportant than to contiue to give that money to a traditional broker. Sorry but my family comes first not my Brokerage.

    2010 I earned $3600 in profit share which I never got from the last firm I was with. I take home more, the company is open book and the agents run the office through the ALC. Agents review the books and are active in the planing and operation of the business. The system works, that is why KW is growing. I know the financial health of my brokerage and my national company – An open and transparent company is a fun place to work.

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Austin

Austin tops the list of best places to buy a home

When looking to buy a home, taking the long view is important before making such a huge investment – where are the best places to make that commitment?

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Looking at the bigger picture

(REALUOSO.COM) – Let us first express that although we are completely biased about Texas (we’re headquartered here, I personally grew up here), the data is not – Texas is the best. That’s a scientific fact. There’s a running joke in Austin that if there is a list of “best places to [anything],” we’re on it, and the joke causes eye rolls instead of humility (we’re sore winners and sore losers in this town).

That said, SelfStorage.com dug into the data and determined that the top 12 places to buy a home are currently Texas and North Carolina (and Portland, I guess you’re okay too or whatever).

They examined the nerdiest of numbers from the compound annual growth rate in inflation-adjusted GDP to cost premium, affordability, taxes, job growth, and housing availability.

“Buying a house is a big decision and a big commitment,” the company notes. “Although U.S. home prices have risen in the long term, the last decade has shown that path is sometimes full of twists, turns, dizzying heights and steep, abrupt falls. Today, home prices are stabilizing and increasing in most areas of the U.S.”

Click here to continue reading the list of the 12 best places to buy a home…

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Housing News

Average age of houses on the rise, so is it now better or worse to buy new?

With aging housing in America, are first-time buyers better off buying new or existing homes? The average age of a home is rising, as is the price of new housing, so a shift could be upon us.

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aging housing inventory

The average home age is higher than ever

(REALUOSO.COM) – In a survey from the Department of Housing and Urban Development American Housing Survey (AHS), the median age of homes in the United States was 35 years old. In Texas, homes are a bit younger with the median age between 19 – 29 years. The northeast has the oldest homes, with the median age between 50 – 61 years. In 1985, the median age of a home was only 23 years.

With more houses around 40 years old, the National Association of Realtors asserts that homeowners will have to undertake remodeling and renovation projects before selling unless the home is sold as-is, in which case the buyer will be responsible to update their new residence. Even homeowners who aren’t selling will need to consider remodeling for structural and aesthetic reasons.

Prices of new homes on the rise

Newer homes cost more than they used to. The price differential between new homes and older homes has increased from 10 percent traditionally to around 37 percent in 2014. This is due to rising construction costs, scarcity of lots, and a low inventory of new homes that doesn’t meet the demand.

Click here to continue reading this story…

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Housing News

Are Realtors the real loser in the fight between Zillow Group and Move, Inc.?

The last year has been one of dramatic and rapid change in the real estate tech sector, but Realtors are vulnerable, and we’re worried.

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zillow move

Why Realtors are vulnerable to these rapid changes

(REALUOSO.COM) – Corporate warfare demands headlines in every industry, but in the real estate tech sector, a storm has been brewing for years, which in the last year has come to a head. Zillow Group and Move, Inc. (which is owned by News Corp. and operates ListHub, Realtor.com, TopProducer, and other brands) have been competing for a decade now, and the race has appeared to be an aggressive yet polite boxing match. Last year, the gloves came off, and now, they’ve drawn swords and appear to want blood.

Note: We’ll let you decide which company plays which role in the image above.

So how then, does any of this make Realtors the victims of this sword fight? Let’s get everyone up to speed, and then we’ll discuss.

1. Zillow poaches top talent, Move/NAR sues

It all started last year when the gloves came off – Move’s Chief Strategy Officer (who was also Realtor.com’s President), Errol Samuelson jumped ship and joined Zillow on the same day he phoned in his resignation without notice. He left under questionable circumstances, which has led to a lengthy legal battle (wherein Move and NAR have sued Zillow and Samuelson over allegations of breach of contract, breach of fiduciary duty, and misappropriation of trade secrets), with the most recent motion being for contempt, which a judge granted to Move/NAR after the mysterious “Samuelson Memo” surfaced.

Salt was added to the wound when Move awarded Samuelson’s job to Move veteran, Curt Beardsley, who days after Samuelson left, also defected to Zillow. This too led to a lawsuit, with allegations including breach of contract, violation of corporations code, illegal dumping of stocks, and Move has sought restitution. These charges are extremely serious, but demanded slightly less attention than the ongoing lawsuit against Samuelson.

2. Two major media brands emerge

Last fall, the News Corp. acquisition of Move, Inc. was given the green light by the feds, and this month, Zillow finalized their acquisition of Trulia.

…Click here to continue reading this story…

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