Keller Williams is the largest real estate company in the world by agent count with over 150,000 agents worldwide. It was started in 1983 by John Williams and Gary Keller (author of Millionaire Real Estate Agent, The One Thing, and Shift)
Katie and I joined in May of 2016 and love KW! As new agents, we benefited from the culture of support and education. While culture will change somewhat from Market Center to Market Center, KW has been recognized as the #1 Training Company in all industries for 2016 by Training Magazine, and the 3rd Happiest place to work in the U.S. by Forbes magazine.
Always a big question when choosing a broker. I believe the details may vary somewhat from State to State, so you may want to check your specific area, but here in Las Vegas, the commission split is usually 70/30. It can be adjusted upon request, but there is not really any long-term benefit to adjusting it as Keller William’s agents here “cap” – once they reach their cap, they are 100% for the rest of the year.
For example, in our Market Center, we pay a 70/30 split until we “cap” at $16,000 for the year. Once we have paid the $16,000, we earn 100% of our commission for the remaining deals we close in that year.
As a bonus, married couples that are both working in our MC operate as one agent – meaning our income is combined and we only pay one cap of $16,000.
Keller Williams employs a profit share model where each month every Market
Center splits its owner profit so that the owners enjoy roughly 52 percent of the profit and the associates who helped grow the company enjoy about 48 percent of the profit.
When joining KW, each associate names a “sponsor” – the one person the associate perceives to be primarily responsible for bringing him or her to the company. Once the profit share is determined, it is paid out over 7 levels, with 50% going to the primary “sponsor”, then 10% to his or her sponsor, etc. For more information, see this white paper.
Real Estate Teams
Real Estate teams are common at Keller Williams (and elsewhere). While individual team models, benefits, and costs vary, there is usually a discounted “Cap” for team members.
Additionally, KW is a leader in the creation of Expansion Teams. Expansion Teams are successful real estate teams, that are allowed to expand their team (and systems) to additional Market Centers.
Interested in learning more about Keller Williams, or want help finding the best MC near you? Feel free to contact me.