The following press release was not too much of a surprise to the agents of the Simi Valley Keller Williams office. While the Simi Valley office is only 3 years old, the Simi Valley Keller Williams office started profit sharing with it's agents in October 2008. This is a remarkable accomplishment for a very difficult real estate market and in the midst of our competitors closing offices or closing down completely.
The company philosophies in the press release below are a big attraction to agents looking to think outside the box of the traditional real estate brokerage. I choose to work at a brokerage and I am excited to be a part of a company that is definately not part of the herd.
The icing on th cake is that the Keller Williams business model is studied at the Stanford and Yale business schools. Gary Keller's vison and leadership has definately poised Keller Williams to lead our industry.
Keller Williams Realty Bucks National Business Trends During the Toughest Real Estate Market on Record
RISMEDIA, January 29, 2009-Bailout. Credit crunch. Foreclosure. Despite these words permeating the headlines and airwaves, there are companies out there moving forward - even in real estate. Keller Williams® Realty Inc., the fourth largest real estate company in North America, announced that it outpaced the market in 2008, while remaining free of debt, and gave back more than $30 million in profits to its agents.
“Our strategy is no secret. We faithfully follow the sound financial model of leading with revenue - the same model our market centers follow,” said Mark Willis, CEO of Keller Williams Realty Inc. “As we watch companies throughout the country take on billions of dollars of debt, we are proud to say that our company has not one dollar of financing debt and we remain strong and financially sound. It is our joy to be able to give back to our agents during these times.”
Despite pervasive downward trends in the real estate industry, Keller Williams Realty continues to outperform the industry. For the first 11 months of 2008, existing home sales for the United States fell 17% when compared to the same period the year before. By comparison, Keller Williams Realty is poised to outdo those numbers by 10 percentage points, and in addition, the company experienced a much smaller contraction in its agent base compared to the National Association of REALTORS®, who saw a 10% decline in membership.
“Keller Williams was founded 25 years ago during one of the toughest markets on record - when interest rates were higher than 18 percent. We continue to urge our agents to zero in on lead generation and reducing expenses so they can thrive during this market,” said Mary Tennant, president and COO of Keller Williams Realty Inc. “We admire our agents’ spirit, tenacity, and dedication to their businesses. They just keep powering forward.”
Throughout 2008 Keller Williams Realty launched new products and services specifically to boost its agents’ businesses, including two new books: Your First Home: The Proven Path to Home Ownership for first-time home buyers, and SHIFT: How Top Real Estate Agents Tackle Tough Times. Both books are written by Gary Keller, co-founder and chairman of the board of Keller Williams Realty, who also authored national best sellers The Millionaire Real Estate Agent and The Millionaire Real Estate Investor.
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