Company gives back $32.2 million in profit share to agents, moves to third-largest real estate franchise in the United States
AUSTIN, TEXAS (February 22, 2010) - Keller Williams Realty Inc. reported today at its national convention that, despite the battered economy, it closed out 2009 with increased profit, profit share and associate growth. According to CEO Mark Willis, who delivered his annual State of the Company address to more than 8,500 convention attendees, the company gave back $32.2 million in profit share to its agents in 2009, up six percent year-over-year. Since the inception of the profit sharing program, the company has given back $270 million in earnings to its agents.
The gains were driven by an increase in agent productivity, with the number of contracts closed per agent increasing by 16 percent year-over-year. Accordingly, Keller Williams Realty office owners closed the year with a cumulative 86 percent increase in owner profit for the year. On average, the company has grown its business (as measured by the number of closed units) at an annual rate of 27 percent for the past 12 years.
The company also continued to grow by number of associates. While the National Association of REALTORS® (NAR) saw a seven percent decrease in its membership in 2009, Keller Williams Realty grew its associate base by three percent, ending the year with more than 76,879 associates across North America.
"We are incredibly proud of the milestones we've achieved this year and the accolades we received; and it is all thanks to our incredibly resilient agents and market centers," said Mark Willis, CEO, Keller Williams Realty. "It is no secret that we have our eyes on growth and we place a lot of emphasis on recruiting and gaining market share because that's what drives our economic model. Our growth this year was also driven by more than 90 mergers and roll-ins that our office owners completed and we're proud to say that we've done it all without one cent of operating debt."
"That's why as we're looking into the future, we envision becoming the No. 1 real estate franchise in North America and even further expansion globally in the coming years," Willis added.
In addition to being named the third-largest real estate franchise in the United States by REAL Trends, the company received accolades throughout the year including:
- Entrepreneur
- J.D. Power and Associates, highest in overall satisfaction ratings from home buyers among the largest full-service real estate firms for the second year in a row
- Inman News
- Swanepoel TRENDS Report
- REAL Trends 500
- RISMedia's Power Broker Report, KW again had the largest majority of offices on the list - accounting for 35 percent of all the brokerages listed and was No.1 in number of agents and total closed transactions.
- Stevie Awards, Sales Training and Coaching Program of the Year for MAPS Coaching , Keller Williams offices comprised more than a quarter of the entire list, and of the major brands represented in the report, was the only company to boast growth in both number of agents added to its ranks and in total transactions closed. survey, No. 1 Industry Trendsetter of 2009 and 2009 Most Recognizable Real Estate Franchise Brand , President and COO Mary Tennant named one of the 100 Most Influential Leaders in Real Estate magazine, No. 1 ranked real estate franchise on the 31st Annual Franchise 500 list
"Momentum is the most powerful competitive tool that you can posses," said Mary Tennant, president and COO of Keller Williams Realty. "And our agents have it. We've seen them tackle the tough market and embrace new trends that make them stronger every day. The groundwork has been paved for an extraordinary 2010, and even more productive and profitable years to come."
Throughout 2009, Keller Williams Realty launched new products and services specifically to boost its agents' businesses. The company provided no-cost, open access to downloadable training from its training arm, Keller Williams University (KWU). Additionally, company chairman and co-founder Gary Keller's hit the road to teach the 12 tactics from his book, SHIFT: How Top Real Estate Agents Tackle Tough Times, which just became a New York Times, Wall Street Journal, USA Today and Amazon.com best-seller.
If you would like to join a team at its' outset that is poised to take the local market by storm, call Tim Stephens with Keller Williams Omaha at 402-218-4589, or email TimStephens@KW.com
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