Keller Williams' Focus on Agent Production Fuels Record November Profits
Real estate franchise boosts profits 55 percent year over year for franchise owners.
December 16, 2016 // Franchising.com // AUSTIN, TEXAS - Keller Williams, the world's largest real estate franchise by agent count, has increased franchisee owners' profits 55.4 percent to $11.9 million in November, shattering the company's previous all-time record set in November 2015 of $7.7 million.
Profit share distributions to agents also set an all-time monthly record, up 63 percent over November 2015 to more than $10 million. Year-to-date profit share distribution is $143.1 million, up 16.4 percent over same period last year.
A strong contributing factor to the new benchmarks set in owner profits and profit share was the company's Career Growth Initiative (CGI), also credited with offsetting the fourth quarter seasonal declines and building momentum for 2017.
"With our Career Growth Initiative, we're helping our agents focus on their most leveraged business activities during a time of year when many competitors abandon the field," said John Davis, president, Keller Williams. "We're helping our people grow their businesses, which is helping them fund their lives and create opportunities for their families."
Launched on July 11, 2016, CGI critically focuses on activities that lead to higher levels of production and profitability for real estate agent businesses. The interconnected CGI tools provide an unprecedented view into an agent's business and fosters the implementation of lead generation and conversion activities.
"Through our commitment to training and technology, we're empowering our agents to have goal-setting conversations with their local leaders and then easily track their daily activities and outcomes," said Chris Heller, CEO, Keller Williams.
"They're improving their skills – becoming more efficient and effective – and it's showing up in the bottom line. Our local offices are more profitable, which means we get to share more profits with the agents who are helping us grow. And we're delivering a better customer experience to the hundreds of thousands of consumers who want to buy or sell a property this time of year," said Heller.
Keller Williams Co-Founder and Chairman Gary Keller and early company leaders created the profit share program to ensure the goals of the company's owners and agents remain permanently aligned. As part of the profit share program, individual market center owners share close to 50 percent of monthly profits with associates who have contributed to growth.
About Keller Williams Realty, Inc.
Austin, Texas-based Keller Williams Realty, Inc. is the largest real estate franchise by agent count in the world with more than 800 offices and 150,000 associates across the Americas, Europe, Africa and Asia. In 2015, Training magazine named Keller Williams the No. 1 training organization across all industries in the world.
Since 1983, Keller Williams has grown exponentially and continues to cultivate an agent-centric, education-based, technology-driven culture that rewards agents as stakeholders. The company also provides specialized agents in luxury homes, commercial and farm and ranch properties. For more information, visit kw.com.
SOURCE Keller Williams Realty, Inc.