The story of KW in Idaho
A few years ago Keller Williams opened a market center in Idaho. A local real estate company owned most of the market share and was upset to find Keller Williams coming into town. The brokerage decided to offer $1 commissions to Keller Williams agents that sold their homes, as opposed to the assumed 50/50 split of the popular 6% commission.
Keller Williams simply asked that the sellers of these homes be told about the $1 commission knowing that any seller would be upset that agents part of the nation’s largest real estate company had no incentive to sell their home. The Iowa Real Estate Commission voted against this disclosure. Keller Williams agents “have been denied more than $100,000 in rightfully earned commissions” as they worked for free and helped their buyers purchase homes listed by this company.
Fellow Keller Williams agents around the country started donated portions of their own commissions to fund these agents and pay them their full 3% commission. This is just one example of the KW culture!
Agents are their priority
Most brokerages exist to serve their customers, and they identify their customers as real estate buyers and sellers. Keller Williams Realty thinks of their agents as the customers, meaning they work to keep their agents happy and attract more good agents.
They don’t compete with us
Most brokerages invest in company branding and advertising. They collect buyer and seller information and then offer these leads to their agent for a price or for a reduced commission split. Have you ever heard a broker say, “If I give you a lead, the split will be less than if you find your own leads”? This is exactly what is happening- your company is competing with their own agents for business.
Keller Williams spends nothing on national advertising, instead they invest their money into training and profit share in order to improve the lives of their agents. Yes, I still receive phone and internet leads of which I still pay my same standard split no matter where the lead came from- but my business is not reliant on KW to give me leads because they have given me the training to build my own business.