Keller Williams Reports First Half Results
AUSTIN, Texas - (BUSINESS WIRE) - August 13, 2019 - Keller Williams (“KW”), the world's largest real estate technology franchise by agent count and the U.S. leader in units and sales volume, continues to expand internationally, achieve technology milestones, and top franchise and industry-related rankings.
“Our agents continue to capture market share and outperform the industry despite a shifting market. In fact, 10.4% of our industry’s total sides belong to Keller Williams agents,” said Gary Keller, co-founder, chairman and CEO, KW. “What sets our associates apart is their unique ability to recognize and act on opportunity.”
“The ultimate measure of our success is the health of our people’s businesses. And, we’re proud that 94% of our market centers across the U.S. and Canada are profitable,” said Keller. “That’s a direct result of our unwavering commitment to the agent-led Labs process which delivers technology that grows their businesses.”
Q2 ’19 Technology and Industry Highlights
- Command, a smart CRM-plus suite of apps hosted on the Keller Cloud platform made available in Q1 ’19, has 60,089 active users as of June 30. Active users of Command are up 44.7% since the end of Q1 ’19.
- In Q2 ’19 alone, agents added 7.8 million client contacts into Command. YTD 25.0 million contacts in Command.
Kelle, a proprietary AI-fueled real estate agent business application, has 79,247 active users, as of June 30.
- In Q2 ’19 alone, 35,951 live referrals were sent via Kelle, representing $4.9 billion in sales volume.
- In April, Swanepoel Mega 1000 named KW the top U.S. real estate franchisor for the second consecutive year.
- In April, Forbes ranked Keller Williams one of America’s Best Large Employers (No. 97 out of 500).
- In May, KW associates gave back to communities across the world via its 11th annual RED Day event.
- In June, REAL Trends’ “The Thousand” featured 86 KW agent teams in its Top 250 ranking of real estate teams by transaction sides, representing 34.3% of the total ranking.
“We wake every day asking, ‘How can we empower agents to deliver a better consumer experience?’ In Q2 ’19, we made huge strides on this journey and released on average 50 to 75 agent-directed, iterative updates to Command a week,” said Josh Team, president, KW. “What agents and agent teams love is that we’re adding this value at no additional charge.”
“Because we’re innovating in partnership with our agents, we’re seeing massive growth in the daily active use of Command and Kelle, which is driving production results,” said Team. “We’re giving agents exactly what they told us they need.”
According to the National Association of REALTORS®, the number of existing homes sold in the U.S. declined 4.2% year to date (as of June 30) in 2019 and the sales volume associated with those homes declined 1.4% compared to the same period of 2018.
“We forecast a decline of 3.5% for existing home sales to end 2019 and for prices to end the year up 3%,” said Ruben Gonzalez, chief economist, Keller Williams. “Recent market turmoil and policy changes likely represent a downside risk to our forecast as they persist.”
“The recent Federal Reserve rate cut is unlikely to generate any significant stimulus to the housing market given the slow response to low interest rates throughout the first half of 2019 and the fact that longer-term Treasury rates may not move in sync with the Fed’s policy. The primary risk to home sales continues to be any deterioration of macro-economic conditions.”
United States and Canada (production YTD in FY ’19)
- KW is home to 160,282 agents in the United States (156,733) and Canada (3,549), as of June 30, 2019.
- As of June 30, agents closed 535,953 transactions, a 0.0% change compared with the first half of FY ’18.
- Agents closed $163.9 billion in sales volume, up 0.5% over the same period of FY ’18.
- Agents took 406,937 new listings (new market inventory), up 1.0% over first half of FY ’18.
- Listings taken volume totaled $145.1 billion, up 3.2% over same period of FY ’18.
- Agents wrote 632,280 contracts (projected closings), up 0.8% over first half of FY ’18.
- Contracts written volume was $194.1 billion, up 1.4% over same period of FY ’18.
Keller Williams Worldwide (production YTD outside the U.S. and Canada in FY ’19)
- KW has 8,075 agents collectively operating outside the U.S. and Canada, up 20.9% over first half of FY ’18.
- In Q2 ’19, Keller Williams expanded globally into Morocco.
- Agents closed 14,831 transactions in FY ’19, up 17.0% over first half of FY ’18.
- Agents closed $2.2 billion in sales volume, up 1.0% over the same period of FY ’18.
- Agents took 45,796 new listings (new market inventory), up 34.5% over first half of FY ’18.
- Listings taken volume totaled $15.2 billion, up 36.4% over same period of FY ’18.
- Agents wrote 19,191 contracts (projected closings), up 35.8% over first half of FY ’18.
- Contracts written volume was $2.0 billion, up 12.0% over same period of FY ’18.
Outside of the U.S. and Canada, KWW regions include Argentina; Belgium; Belize; Bermuda; Cambodia; Chile; Colombia; Costa Rica; Czech Republic; Dubai, UAE; France; Greater Shanghai, China; Greece; Indonesia; Ireland; Israel; Italy; Jamaica; Luxembourg; Malaysia; Mexico; Monaco; Morocco; Nicaragua; Northern Cyprus; Panama; Philippines; Poland; Portugal; Puerto Rico; Romania; Southern Africa; Southern Cyprus; Spain; Trinidad and Tobago; Turkey; United Kingdom; and Vietnam.
About Keller Williams
Austin, Texas-based Keller Williams, the world's largest real estate technology franchise by agent count, has more than 1,030 offices and 181,000 associates. The franchise is also No. 1 in units and sales volume in the United States.
In 2019, Fast Company named Keller Williams the No. 1 “Most Innovative Company” in real estate. In 2015, KW began its evolution into a technology company, now building the real estate platform that agents' buyers and sellers prefer.
Since 1983, the company has cultivated an agent-centric, technology-driven and education-based culture that rewards agents as stakeholders. For more information, visit kw.com.
SOURCE Keller Williams