An
End to Compromise Between Broker and Associate
What
made this task so significant is the realization that compromise
is inherent in so many real estate companies. For instance,
high commission plans usually mean no support, no education
and no team environment. Superior support, education and team
environment usually lead to low commission plans. Neither
compromise creates a win-win company.
A
Clear Mission
KELLER
WILLIAMS has developed a clear sense of its own vision and
direction for the future.
KELLER
WILLIAMS is a training and consulting company that also provides
the franchise systems, products and services, which lead to
productivity & profitability.
KELLER
WILLIAMS thinks like a top producer, acts like a trainer/consultant
and focuses all its activities on productivity & profitability.
MISSION
To build careers worth having and business worth owning.
VISION
To be THE real estate company of choice for a new generation
of professional real estate associates and broker owners.
GOALS
- To
be a training and consulting company that also provides the franchise
system, products and services that lead to productivity and profitability.
HOW
DO WE ACHIEVE THE GOALS?
- Marketing
- Leadership
- Training
- Proper
Implementation of the KELLER WILLIAMS Model
BELIEF
Real Estate is a local business driven by individual real
estate agents and their local image with their centers of
influence.
BEHAVIOR
KELLER WILLIAMS thinks like a top producer, acts like a
trainer-consultant and focuses all its activities on service,
productivity and profitability.
Our
Relationship
KELLER
WILLIAMS is an "interdependent" company. Our philosophy
is that our associates are uniquely positions, both as our
customer and as our partner. Together, we have but one goal—to
dominate our markets, memorably and profitably.
The
Design
KELLER
WILLIAMS is designed to achieve the highest commission split
possible within a full service company and make a reasonable
profit. We share that profit with our associates and remain
flexible enough to meet the ever-changing needs of our associates,
customers and marketplace. To accomplish these standards
of operations, the following premise was established:
The
company office should operate as a Market Center designed
to service agents and customers based on that which the
agent needs to operate his/her business.
A
survey of active real estate agents and their companies revealed
the following:
Clients
Coming to the Office
94%
of the agents said 0-1 of the sellers came to their office
in a month. 67% said their sellers never come to their office.
2% said only one seller a month came to their office.
Where
Contracts are Written
98%
of the agents said at least 50% of the contracts were written
in the field. 49% said all of their contracts were written
in the field. 11% said 95% were written in the field. 38%
said at least 50% were written in the field.
What
is Important to Agents
90%
of the agents listed either training and support, leadership
and inspiration or proper company image as the most important
role the company can play in their career. 59% said the
most important role the company can play is training and
support. 17% said leadership and inspiration. 17% said proper
company image.
Prospecting
63%
of the agents said they prospected one hour or less a day.
17% said they do no prospecting at all. 46% said they prospected
one hour a day.
Open
Houses
76%
of the agents said they hold two or less open houses a week.
17% said they do not hold open houses at all. 36% said they
hold one a week. 13% said they hold two a week.
Common
Mistakes
79%
of the agents said the most common mistakes made in building
a career were not goal setting, not planning, not prospecting
enough or not following up consistently.
Conclusion:
Real estate agents need a work environment designed around
their needs with the savings passed on to them. The KELLER
WILLIAMS Market Center is not necessarily an office, but rather
a place for agents to use as a base of operation. Calls are
received and messages taken; management support is provided;
research is done; and customers are met. Our sales associates
work from the office and from the marketplace. Success
always occurs in the marketplace.
Compensation
for the Next Generation
The
KELLER WILLIAMS compensation concept is one of a long list
of "Firsts." Building upon this heritage of innovation,
the compensation concept is a milestone in agent income opportunities.
KELLER
WILLIAMS is committed to the concept of associate compensation
being more than just commission programs. This is where other
companies stop and KELLER WILLIAMS begins. This commitment
is what lays the conceptual foundation for our innovative
alternative to traditional and 100% companies. Our dedication
to continually explore providing our associates the highest
compensation opportunities in the industry is an entirely
new dimension in real estate.
High
Commission – No Risk Concept
KELLER
WILLIAMS’ compensation concept was designed by top producers
for top producers. After months of study, these top producers
determined the commission program the company would embrace:
The
highest commission program possible in a local market within
a full-support company with no required risk to the associate.
The
impact of such a concept is that associates can receive all
of the benefits of high commission programs and full-support
programs without any of the negatives associated with either.
Profit
Sharing – Unexpected Innovation
Few
would disagree the real estate agent is the foundation of
a real estate company. Without them, there would be no company.
KELLER WILLIAMS goes further than any other real estate organization
in recognizing the significance of this by offering an income
opportunity unparalleled in the real estate industry.
KELLER
WILLIAMS was searching for an additional way to reward those
associates who build the company. Unexpectedly, the result
was the most significant compensation innovation in real estate
history: an open-ended profit sharing program. This program
allows any KELLER WILLIAMS associate, owner, Market Center
Team Leader ("TL"), local and national employed
staff, regional director or affiliate broker to participate
in the profits they help create, anywhere in the world, a
KELLER WILLIAMS Market Center exists without assuming any
financial risks.
The
Benefit of a Full Loop™
KELLER
WILLIAMS continuously has two associate product and service
goals:
- To
anticipate the most important real estate products and
services trends.
- To
develop these products and services first.
We
accomplish both of these goals through our Full Loop Products
and Services Planning Process™. Countless hours are spent
each year by our associates working through this process.
KELLER WILLIAMS associates and brokers help analyze trends
in 10 key areas:
- Technology
- Training
and Education
- Literature
and Marketing Pieces
- Institutional
and Promotional Media Advertising
- Relocation
and Referral
- Ancillary
Business Opportunities
- Recognition
- Communication
- Marketing
and Customer Programs
- Compensation
and Income Opportunities
Through
this Full Loop™ process, KELLER WILLIAMS turns the products
and services recommendation and quality control process over
to its associates and affiliate brokers. The process provides
the "from the marketplace" feedback and direction
needed to develop effective business tools when they’re needed.
It’s part of the culture. Always has been—always will be.
World
Class Image
Countless
measures have been taken to build KELLER WILLIAMS’ world-class
image. KELLER WILLIAMS believes the key to a successful career
is to establish the right image up front and then to strengthen
it over time. The company supports the philosophy that the
two most important image criteria for a Market Center are:
- It
be local and regional.
- The
agent’s image be first—the company’s second.
It
has taken years for the real estate industry to prove this
and yet most real estate companies ignore it. Real estate
is a local industry—not national. It is also a people industry
and the fact is, most people do business with people—not companies.
These concepts are the heart of the image of KELLER WILLIAMS.
Tailor-Made
Education
As
you’d expect in the in the industry’s finest real estate company,
both education and training are tailor-made for our associates.
Through our Keller Williams University, KELLER WILLIAMS associates
have the opportunity to receive the very best in real estate
education. Both experienced and new associates are provided
extensive opportunities to further their education on a weekly,
monthly and annual basis.
Local
and Regional
Contrary
to most, KELLER WILLIAMS views the real estate industry as
a local and regional business. For this reason, it has taken
unprecedented measures to design the firm as a team of regional
operations. In turn, the goal of each region is to become
a major regional power by building major real estate forces
in local markets.
This
strategy endows our associates with the strongest possible
support system in the industry. Everyone wins.
A
True System
In
the Market Center, KELLER WILLIAMS has created the industry’s
strongest long term economic model time tested and proven.
This was achieved only after thorough research and practical
experience.
For
years there have been only two major real estate office economic
models—traditional and 100%-desk fee. After investigating
both systems carefully, KELLER WILLIAMS associates chose to
take the best from both. The result was a better win-win economic
model, which is a hybrid of the two.
Our
associates receive all of the support advantages of "traditional"
while gaining more compensation advantages than just a "desk
fee" concept. For the broker it provides the lowest financial
risk operating system possible within a full-support company.
The KELLER WILLIAMS economic and operating system delivers
where others fall short.
