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?
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. 😉
Mark Babb
April 18, 2011 at 9:17 am
Too right, Sheila!
Benn Rosales
April 18, 2011 at 9:50 am
https://agentgenius.com/real-estate-news-events/prudential-wins-jd-power-award-for-home-sellers/
https://agentgenius.com/real-estate-news-events/keller-williams-wins-jd-powers-award-for-home-buyers/
Jonathan Benya
April 18, 2011 at 12:30 pm
Well, KW won for buyer satisfaction, so that's something, but regardless of who won what award, what brokerage is bigger, blah blah blah, All I can say is that since my transition to KW, I have been very happy with the training and the culture, and that's what matters to me.
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.
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!
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.
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.