Keller Williams – It’s the Business Model that Brings in Agents

harperteam_logo_sm.jpgSince joining Keller Williams Real Estate in August, I have heard many interesting stories of why people have left an office they were with for years and came over to Keller Williams. Many people have the misconception that KW’s agents are mainly motivated by the profit sharing plan to recruit other agents, but I have not found that to be the case as I indicated in my EXPOSED: Keller Williams Profit Sharing Post.

So, I decided to investigate some of the reasons people switch. I asked a few people the following questions:

  • Why did you choose to move to KW?
  • What do you see as the advantages KW offers to agents?

Marcus Wimmer

I came to Keller Williams for the wonderful people. More specifically, I came to work with Jim Walberg. He is a fantastic person and a great mentor. I have been in the business for over 5 years now after starting at Prudential. Keller Williams is the first real estate company where I feel that I won’t get “nickled and dimed” to death. It seems that from all of the information that I gathered on other companies that they have a tendency to create profit centers at every opportunity, i.e.: e & o insurance, desk fees, (fees here and there) commission structures, etc. I have also found that the training classes are a great resource.

 

Paul Ward

I decided to move to Keller Williams just over two years ago after twenty-one years at Coldwell Banker in Danville for a number of good reasons. Number one was my dialog with Kristin White, Team Leader, for over a year and during this time I research the company and did the numbers on what it cost to be with Coldwell Banker compared to KW. The cap on commissions and franchise fees were big as well as the genius business model that Gary Keller developed. It just made a lot of sense to me.

The growth of KW nationally over the previous four years was also very impressive. I also believed in Kristin as a person and I could see how she loved KW and so believed in it. I felt she would be great to work with and in being a part of a growing Danville Market Center. The culture and profit share didn’t mean a lot to me at the time because you have to experience the culture. You can’t get it just by someone telling you about it or observing it from the outside. The profit share was just the frosting on the cake. I now appreciate its value in passive income for the future.

I also liked the freedom to grow my business in a manner that I wanted to without big brother looking over my shoulder. The “agent’s first” thinking was foreign to me since CB did a good job of brain washing agents to believe that their success is directly tied to the CB name. (False) The bottom line is I am pleased I made the move and enjoy coming to work each day much more than I did at CB. CB is a fine company and has been around for over one hundred years, but I discovered a better way. The future in real estate is the KW model.

 

Gene Ward

 

I am a licensed California real estate broker with 8 years experience so my choice of real estate brokerages was pretty much unlimited. I started my career with a well known brokerage and had negotiated a great commission split. I did very well but in the fourth year started to suffer burnout from working 7 days a week. I took 3 years off from full time real estate to develop a software program for agents. During that time I worked under my own broker’s license. I really missed full time real estate so I decided to join a real estate firm. I investigated then interviewed with about10 real estate brokerages to determine where I wanted to hang my hat for the next 10 years. What’s important to me is not the money (commission split), as the money comes in this business if your doing the job right. I felt strongly about the following and was not willing to compromise:

A company that…

  • Treats all agents, new and experienced, as equals (no prima donas)
  • Can pay their bills to keep the office infrastructure going without dipping into my pockets when the market slows.
  • Offers continuous training, even experienced agents need training and coaching.
  • Has no expensive monthly fees.
  • Where agents do not compete with each other. At Keller Williams, a profit sharing company, when an agent helps another agent, everyone wins.
  • On the leading edge of technology.
  • A big advantage that Keller Williams has is the 100% commission. 100% can be achieved after a little less than $100K in commissions. That might seem high to some in areas with lower home selling prices, but in our area the SFH prices start at about $700K. After about 4-6 sales, your at 100% commission.
  • Continuous training is offered, either free, or for just the cost of the materials.
  • Profit sharing. Who of us ever thought there would be retirement income in this business, that doesn’t stop when you retire.
  • The camaraderie among agents in the office.
  • Freely sharing ideas and information with other agents in the office.


 

Bob Gibbs

I chose KW because it makes great business sense. The reasonable cap and was enough to make the move but the profit sharing really sets it apart.

The advantage to KW for the agents, in addition to the low cap rate, is the on-going training and openness of the agents to discuss methods of lead generation, prospecting, and customer service.

 

So, there you have it from experienced agents that decided to make a move based on what they saw as a better business model and a greater opportunity.

The training is something every KW agent seems to mention. I wrote this post back in November to address it.

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5 Responses

  1. We chose KW because we loved the way that is was agent focused and offered spectacular training – for both new and seasoned agents. Furthermore, the open book policy was admirable. Now that I am a trainer, I am seeing even more of the great things that are offered. Thank you for the great post!

  2. Keller Williams shares openly its philosophies, it’s mission and it’s knowledge of a great business model that can be the foundation of many businesses. I love that even as a Virtual Assistant with KW I have access to continued learning as well.

  3. […] Keller Williams – It’s the Business Model that Brings in Agents […]

  4. Keller Williams Corporate is a good company as well as most of the other franchised companies ( CB,C 21,Era,Remax etc) and have very similar programs. However most of us who have been in the business for a while and can see through all of the glitz and glimmer understand it comes down to the individual management of a particular office and the agent whether they will be successful or not..My question is,

    Why do agents leave Keller Williams?

  5. Don – I think there are as many reasons as people that leave. I’m sure a lot of it has to do with a particular office, personality differences, career direction, etc.

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