On January 21, 2011, several Keller Williams associates in the Stuart Marker Center woke up to find additional money in their bank accounts that was directly deposited by Keller Williams International. It was wired to them based on their efforts in helping the Marker Center grow. Approximately one half of the owner's net profit is divided among agents who have helped grow the office by referring other agents to the Team Leader.
Hal and Jan Frasier were among those receiving a portion of the owner's profit.
"We saw the wisdom in the Keller Williams business model long before they opened in Stuart," said Hal. "We studied the model and it made perfect sense so we were the first two agents on board when KW opened here in April of 2005 in 3500 square feet of space on East Ocean Blvd. In 2007 we moved to our current 10,000 square foot location at 819 S Federal Hwy."
"I'll be honest," Jan remarked, "It was not all roses in the beginning mainly because we opened at a time when several major real estate offices were closing their doors or scaling back on space and overhead. Many agents just gave up on the real estate business. When we moved into our office space on US 1 the buzz on the street was that we would be out of business in 6 months because we would never be able to sustain the overhead.'
Now the Treasure Coast Market Center is 132 agents strong and will be opening in St Lucie West in the very near future according to Broker and Team Leader, Julio Sanchez. When asked for his secret to the unprecedented growth in a down market Julio said, " I credit the Keller Williams Business Model which includes many advantages to agents including PROFIT SHARE, and my Agent Leadership Council.
At a recent Agent Leadership Councli clinic it was announced that the Keller Williams South Florida region, consisting of 25 Market Centers, returned an amazing $1,300,000 to their agents in 2010. Keller Williams International has gifted back to agents in excess of $300,000,000 since 1987.
Hal, who teaches the profit share model at the Treasure Coast market Center says, "It is a common misconception among agents outside of Keller Williams that this sharing of profits comes out of the agents pockets. This is absolutely false," Frasier emphasizes, "The truth is that it comes from the OWNER'S profit based a formula which is universal for all KW franchises. "Since we are a totally OPEN BOOK company all agents can see exactly what the company net profit is each month. And they have the right to challenge anything on the P&L statement," he added.
The Frasiers, who speak with pride about their company, agreed that all real estate agents should examine this unique business model if for no other reason than to know the facts about it. For more information about the Keller Williams visit their website.