Keller Williams is now one of the fastest growing brokerages around. In many market places, KW is becoming so popular that it runs into the same pitfalls of the other large brokerages, and that's the problem of how to differientiate each agent from the next. Albeit, that's more a problem for the agent and not the brokerage itself but it's definitely a testament to their success.
Keller Williams is about making money. Most KW "market centers" as they are called or offices are run by lazer beam focused profit makers. They preach the "word" (Also, known as the Millionaire Real Estate Book) to every agent and focus on helping the top 20% succeed while offerring help to the bottom 80% in the form of training and classes.
KW training is unparalleled. They take from the world's best trainers and coaches, put it through the KW marketing machine and then spit it back out to any KW agent willing to take it in. It's about systems and succeeding.
KW's business models are one that is a mix of contemporary and traditional. They take a percentage of each sale up to a certain amount (roughly 20K) every year and in turn give the agent an incentive for recruiting, known as profit share. Keller Williams was one of the first to implement this now common system of rewards for recruiting. It works very similiar to a MLM. In theory, you could recruit 10 agents that could pay for your "company dollar" and allow you to do KW completely 100% commission side.
KW has a unique culture and atmosphere. It's truly the only brokerage that I've ever worked with or been a part of that emphasizes team work and helping others. It's the one place where your competitor will say, "here's how I'm kicking your tail in your neighborhood."
There are some drawbacks to joining KW but they are the same ones found in Remax, Coldwell and the like. Ultimately, if you're going with a franchise you can kiss doing creative builder relationships, unique co-ops, and LLCs good by.
To sum up my usual unhelpful ramblings.
PRO
- Profit Share
- Training is number 1
- Atmosphere
- Assistance
- Ethics
CONS
- Commission Splits
- Everyone is joining, dilluting the "elite-ness"
- Same pitfalls as large franchises
