Keller Williams’ London Bridge market centre, established more than five years ago, will close next week, making it the latest KWUK casualty.
Chris Buckler, operating principal at Keller Williams London Bridge, has confirmed that the market centre will close after he failed to agree terms over a new contract with KWUK.
Reluctant to go into detail, Buckler said: “We decided not to negotiate on the extension of the franchise agreement, but wish KWUK all the best. I cannot comment further at this time.”
Several UK franchises established by franchisor Keller Williams have closed over the past 12 months, and this latest closure comes swiftly off the back of the insolvency of Keller Williams’ Evolve Market Centre.
Companies House documents reveal that TBF Centres, which operated Keller Williams’ Evolve Market Centre, entered voluntary liquidation last month.
EYE understands from several well-placed sources that at least two other market centres could be on the verge of closing, following disputes between the licence holders and head office.
Several investors in the Keller Williams UK business are said to be disgruntled.
Keller Williams UK first launched here in 2013 and has been managed by Ben Taylor since 2017 but has failed to gain much traction. A number of high profile senior leadership personnel have fled the business in recent times including Nicky Stevenson (EA Events, Fine & Country), Simon Leadbetter (Knight Frank, Countrywide, Fine & Country), Russell Quirk, Anthony Quirk, Gaven Swan (Countrywide), Wayne Albutt (KW South Africa, EweMove), Jason Cannon (Spicer haart), Will Clark (Knight Frank) and Matt Thomson (Foxtons and D&G) – some of these names are very high profile property industry people and none of which lasted even a year at the UK headquarters of the US based entity.
Keller Williams UK CEO Ben Taylor insists that it was KWUK’s decision to close the Keller Williams London Bridge market centre after five years.
Taylor commented: “As part of its ongoing plans to develop and grow the business, KWUK have taken the decision to not renew the sub-licence agreement for the Market Centre in London Bridge.
“This licence will therefore terminate in accordance with the current agreement on 15th June 2023. Agents will be well supported from any one of four neighbouring Market Centres.
“KWUK has, over the last five years, invested significant time and resource in learning and building exactly what is required to best support agents to build businesses that are successful and Market Centres which are both profitable and impactful to their local communities. This further restructuring is an important step in the development of the KWUK success story.
“KW is the world’s largest real estate business by agent count, this is due in no small part to the culture of KW across the globe – the ‘glue’ which holds our agents, associates, and leadership together as we all work towards leading lives worth living.”
It is the end for Keller Williams London Bridge, which was managed by Julian Jacobs until May 2021, when he sadly died, of a heart attack, at the age of just 44.
The only ‘glue’ involved here is the stuff Ben Taylor and the U.K. leadership team/investors are sniffing if they honestly think that KW U.K. is a ‘success story’.
It’s a clown show.
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If the market centre is a profitable business as stated, than why would they would KWUK shut it down considering the amount of investment it takes to open one (in excess of £100,000) and pull the agreement?
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Ten green bottles.
When good people meet a bad system, the system always prevails.
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Ben Taylor drinking the Kool Aid again.
Does he really believe it was his decision? What a joke.
Gatwick only has 5 agents now and I know 2 of those are leaving at the end of the month so that’s another licence gone.
Oxygen won’t renew their licence and neither will Scotland, the regional Director is disgruntled but can not leave as he is to deep in to KW, such a shame to see this brand fall away because of poor leadership.
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I can’t comment on Gatwick, but I know for sure there’s no regional director for Scotland and the owner of the business is a woman who has just increased her stake in Scotland.
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The Scottish owner has just ditched a Market Centre with substantial debts including a large amount to HMRC, not sure its all peachy up there either .
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Netflix documentary waiting to happen…
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I have the most sympathy for the agents at London Bridge and elsewhere at KW and I believe Chris Buckler will have the same view. When you want a divorce because you have fallen out of love, things can get messy. Mr Taylor should remember this and be honest about why the partnership is not continuing. Everyone knows why, we are not stupid. We are not seeing much integrity here. A Meaningless set of values. We are judged by our actions. The SE model is proven to be successful in many businesses in the UK and I’m sure with the right leadership KW could have thrived. Some amazing people. Time to show some real leadership, admit where you are and seek to move on.
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If there was a PIE Hall of Fame for the best reply the BigJ response would be in.
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Chris Buckler is an amazing agent and an inspiration. The model is not right in the UK and as Chris Arnold said – the system is not right. Oh and neither is the UK leadership.
I am sad it’s not worked out for Chris as I am sad it didn’t work out for other market centre OPs and I am gravely concerned for other OPs that have put in life savings to make a business that is doomed under Ben. The guy needs to get out of his own way. When SE agency is GROWING and thriving in the UK – what could be the UK leader is in demise and that endemic from the top down.
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So this is the start of the kwuk demise in the UK. Since launching, it has had a bad reputation, bad leadership and terrible turnaround of staff, employed and self employed. KWUK has a handful of fantastic agents but struggles to attract experienced agents.
The goal of 100 market centres and 10,000 agents is laughable, KW London Bridge, Exeter, Leeds, Bristol, Warwick, Weybridge, Edinburgh have all closed their doors. Surely there will be legal implications of kw Scotland liquidating one business and then starting another to avoid the significant debt. Diane Griffin has been removed as chairwoman, Mark Readings removed as regional Director, who is left to run the show, Ben? Most agents and leadership are not behind him.
I truly feel for the remaining people at KW, it can’t be doing their careers any good.
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