Keller Williams Grows to 3rd largest Real Estate Company in US
May 4, 2009 By Leave a Comment
AUSTIN, Texas–(Business Wire)–
Keller Williams Realty Inc., announced last week at its annual convention in Orlando, Fla. that it is now the third-largest real estate franchise in the United States, surpassing RE/MAX International. According to Steve Murray of REAL Trends, a leading source of analysis and information in the residential real estate industry, the Austin, Texas-based company claimed the number three spot with 72,794 U.S. associates at the end of 2008.
“The success of Keller Williams Realty can be directly attributed to the hard work and perseverance of our associates and the soundness of our economic and organizational models”, said Mark Willis, CEO of Keller Williams Realty, Inc.
“While others might be looking at this market and seeing fear and uncertainty, we have always approached it as our opportunity to shine and grow. And that mindset has paid off.”
The company has been gaining ground for the last three years, outpacing pervasive downward trends in the real estate industry. From 2006 to 2008, Keller Williams Realty increased its associate count by 52 percent, market share for its offices increased 83 percent and agent gross commission income went up 35 percent. Currently, the company has 679 offices operating in the United States.
The company also shared more than $30 million in profits with its associates in 2008 through its company-wide profit sharing program.
“Through profit share, our phenomenal coaching and training and our technology offerings, we are offering agents their own `bailout plan` for this market,” Willis added.
The company also announced that after years of searching for a partnership to provide its associates with affordable health insurance, they are moving forward with a solution.
The soon-to-be-launched Keller Williams Health Providers Program will include options for major medical, limited medical, catastrophic coverage and a separate cancer plan. The health insurance coverage is the first step toward a total wellness program for associates.
“We have always been very aware that as independent contractors, our agents face barriers to obtaining health coverage,” said Mary Tennant, president and COO of Keller Williams Realty. “We know that for many, this new option may alleviate some of the stress that they face in today’s economy. After all, our associates are not just our partners – they are our family.”
Last fall, the company also announced the launch of KW Commercial, a new division of the company dedicated to providing commercial real estate associates with specialized technology, marketing tools and resources. KW Commercial already has more than 220 active brokers across the U.S. and Canada.
“Our growth in the last year and now becoming the third-largest real estate company in the United States was a true team effort and a company-wide win. We are so grateful for all of the leadership and commitment our associates have shown to power through this shift,” added Willis.
Last Week in the News
May 4, 2009 By Leave a Comment
On Tuesday, April 28, the Conference Board reported that its consumer confidence index rose 12.3 points to 39.2 in April. Economists had expected the index to increase to 29.5. It is the highest level since a November reading of 44.7 and is the largest jump since a gain of 13 points in November 2005. The index was benchmarked at 100 in 1985, a year chosen because it was neither a peak nor a trough in consumer confidence.
The Commerce Department announced Wednesday that gross domestic product — the total output of goods and services produced in the U.S. — decreased at an annual rate of 6.1% in the first quarter of 2009. This follows a 6.3% decline in the fourth quarter of 2008. It marked the worst two-quarter performance since 1957-58. One positive aspect to the GDP numbers was a 2.2% increase in consumer spending.
The Labor Department said initial claims for unemployment benefits fell in the week ending April 25 to 631,000 from the previous week’s upwardly revised figure of 645,000. For the week ending April 18, the number of people continuing to claim jobless benefits increased 133,000 to 6.271 million.
The Reuters/University of Michigan consumer sentiment index rose in April to 65.1 from 57.3 in March. Economists had forecasted a reading of 61.9. It was the highest reading since September 2008 and the biggest one-month gain since October 2006. The index has rebounded significantly from a 28-year low of 55.3 in November 2008.
The Institute for Supply Management