I just read this press release about how Keller Williams Realty went and paid their agents the loss of a normal commission because a competing real estate company was only paying a $1 co-op to the buyers agents on their listings... To me, that is one of the most jacked up things I have ever heard a company do...
My question is, does anybody know what Des Moines Iowa real Estate company only offers a $1 co-op to the buyer agents?
Global Real Estate Company Keller Williams Realty Rallies to Pay Commissions Denied to Des Moines Agents
Vice Chairman of the Board to Deliver $107,040 Check on Friday
The Keller Williams Greater Des Moines market center opened in March 2012 with 23 agents. Since that time, its largest local competitor has paid Keller Williams associates only $1 in commissions on each of the listings the competitor controls. Driven by Keller Williams Realty's belief in doing the right thing, the Greater Des Moines associates have continued to put their clients first and sell the competitors' listings despite earning only $1. To date, the associates in Des Moines have been denied more than $100,000 in rightfully earned commissions.
Last month, during Keller Williams Realty's annual convention in Dallas, Anderson brought several Greater Des Moines associates on stage to honor their commitment to serving the Des Moines community and challenged the Keller Williams family to support their fellow agents.
"We are committed to making our Greater Des Moines family whole again," Anderson announced from the stage. "And we are going to continue to help them until these business practices end."
The response was overwhelming. Within minutes, fellow associates wrote checks and stuffed envelopes, more than covering the over $100,000 in commissions denied to associates to date.
Anderson will visit the Greater Des Moines market center on Friday, March 22nd at noon to meet with the agents, honor their commitment to client service, and deliver this first gift from the newly established KW Family Fund.
"The support of our Keller Williams family is a powerful statement of who we are. What an honor it is to be in business with a real estate organization who stands united, supports each other and is unwavering in their commitment to do the right thing always," said Brian Wentz, Team Leader, KWDSM.