A giant American estate agent is setting up operations in the UK.
Realtor Keller Williams has 700 offices across the US and Canada, plus around 50 in other countries such as South Africa and 90,000 associates worldwide.
It is now staffing up its first UK office, in London’s Victoria, and will be taking on listings ahead of launch in September. A UK website is also being finalised.
Keller Williams does not advertise any properties in the press, and nor will it be on Rightmove, but instead relies on its own website plus customer referrals and recommendations.
In the UK it is understood it will also list on Zoopla.
The organisation, which describes itself as the largest real estate property franchisor in North America, is currently recruiting property advisers for its London office, which will also be its UK headquarters.
The entire UK operation will be headed up by Scotsman Donald Morris, Keller Williams’ UK chairman.
A newcomer to estate agency, Morris will be supported by one of Keller Williams’ US trainers, Pam O’Bryant.
The company sets out its stall by saying it has a unique business model based on ethics.
All its hires are made on the % to the agent and 30% to the company.
Keller Williams will be holding monthly recruitment seminars in central London and claims that its launch in the UK will create hundreds of jobs.
A spokesperson for the company said there is already interest from people wanting to buy a franchise in a number of areas in the UK.
The company is bringing its US package of training and technology to the UK.
Pam O’Bryant said: “Keller Williams supports property advisers with ongoing training and education which focuses on a broad spectrum of skills: life skills, customer service, buyer/seller mastery etc, which are supported by a whole series of our own books which have achieved great acclaim in the US.”
Gary Keller, who started Keller Williams in 1983, has made a name in America for the business training books he has written, including The One Thing which was a best seller.
According to the spokesperson, Keller Williams UK will be a UK business incubator “helping entrepreneurs to become successful business owners”.
The spokesperson said: “People join and stay with Keller Williams because they keep the money they earn and there is no shared pool.
“After an initial period – or approximately nine sales – they keep 92% of their commission.”
Doesn't seem much different to the RE/MAX model and they are already here. Given that RE/MAX is the largest real estate brand in the world with over 6300 franchise offices in 90+ countries. Keller Williams doesn't seem that much of a giant in comparison. Also the US model does not sit easily in the UK where agents are use to being paid a salary.
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RE/MAX model – you pay them whether or not you generate any revenue.
KW model – they share in revenue you generate to a maximum amount per 12 months.
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Remax came first in the uk and has remained a very small player.
Then we had Europes' biggest….Optimhome….they are struggling to attract field agents or make any impact at all.
Now this lot.
The fact is that all 3 of these have become massive in countries that have never had the "UK" style professional agency networks.
It's nothing to do with "online" it's just that to get a homeworker franchise from a company like this is often free with a monthly payment of £300-£400 to cover everything (plus a % of deals done). You don't have to have ANY experience……you sink or swim after 1 or 2 training sessions. The result is very poor service which, on the whole, customers just aren't interested in. That is why these companies failed….Where they have done well in other countries the consumer had little agency choice to start with (eg Optimhome – France) giving a foundation to build on.
I fear this type of agency model the LEAST in our quick changing industry.
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KW may surprise you…
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Contrary to the popular route, Keller Williams has taken the position of thoughtful growth. Rather than opening multiple offices around the world before the support structure was built, KW is carefully growing their agent and client base. By helping individual agents do a phenomenal job, one client at a time, we expect to experience a 50% referral rate from clients before the transaction completes.
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"By helping individual agents do a phenomenal job, one client at a time, we expect to experience a 50% referral rate from clients before the transaction completes."
Oh, dear.
We ALL "expect" referrals from customers that we have provided exceptional service to. Thankfully, our feelings of disappointment have been numbed over the years when they simply don't bother.
This is the United Kingdom – NOT the Good Ole' U S of A, I am afraid. No Bu99er here wishes you a "nice day"; and quality service from Estate Agents is simply EXPECTED, and not rewarded.
And so it flippin' should be.
I sincerely hope you haven't based your model on your expectancies.
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Sounds like PeeBee feels threatened…very threatened…by the KW model…
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All these comments – and the major point has been missed, in my humble opinion.
"The entire UK operation will be headed up by… Keller Williams’ UK chairman… A newcomer to estate agency…"
Sorry but I can't bold the last, vitally relevant, five words for emphasis.
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A bit like the pizza woman.
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Nah – nothing at all like her, wardy.
That lady at least had a track record she and her company were prepared to divulge.
Mr Morris pops up with a blank pedigree.
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Keller Williams Realty will take over the UK market…it's just a matter of time. We are simply the only real estate company in the world, to acknowledge one basic concept that every other real estate company refuses to: that the real estate agent/estate agent is the reason they do business…not the real estate company's brand. By being the only agent-centric model for a real estate company that treats its agents as stakeholders(share in the profits, involved in decision making process and open book company), we have been able to become the #1 real estate company in N. America in only 30 years, without spending a dime marketing our brand. In a shifting economy, KWRI has $0 debt and shared over $78 million in profits with our associates last year. When you create an interdependent model for a real estate company, where: there is an incentive for agents to share ideas and teach classes, where you invest in training, education, technology and support for the agents vs. marketing your company's brand to the consumers and where the agents are treated as stakeholders….why would they ever leave your company. Find out more about a career at KW, by checking out our KW Agent Career Blog: http://moving-careers.com/blog
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…and when I count to three, you will wake up feeling totally refreshed.
You will NOT feel in the slightest like your brain has been subjected to a thorough washing with complete, utter ********.
One… two…
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PeeBee – apparently you are unable to refute any of "moving careers" statements – so you resort to defensive bluster. Really?? No wonder you mention "No Bu99er here wishes you a "nice day"". Not surprising if that's how you treat them…
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Look into my eyes, not around the eyes, look into my eyes 3,2,1 you're under! when you wake you will believe all this and sign up to give a company no one has heard of 8% of your income so they can recoup the cost of being heard of.
If you had done your homework you would notice we have this system whereby about 18,000 firms manage to be agent centric and sacrifice profit levels by giving their stakeholders (they are called staff over here) wages so even if the market falls on it rrrr's for 6 years they can still feed their family.
If you have no fixed costs such as or premises wages it is obvious you can be falsely claiming big profits and no doubt those that are a bit rubbish at maths, accounts and business will be suckered in by your spivvery and spin but most of us can see straight through your gufferage.
The problem with big company profits in this country is that one ends up with a big Tax bill, that is why most companies have lots of expenses and don't make any profit.
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Blimey, what a post. I was right not to fear this business model!
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Add ampersat and wilko to the list of those who feel threatened. Perhaps time would be better spent in Monte Carlo if your crystal balls are so accurate? 🙂
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"Think global, act local" was the advice on a course on international marketing. If the American agents followed this advice they might have done better. It isn't just remax that have been a damp squib, anyone remember Century 21 and the gold jackets their managers had to wear? Anyway, a new player will add to the fun, who will be the next to assume selling houses is easy?
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The Keller Williams (KW) culture is to "come from contribution" and as a result all their coaching, training and business systems are available to anyone who wants to participate, no matter which company they work for. I would therefore encourage you all to be open to seeing if there is anything you can learn from KW which could be integrated into your current business practices for you and your clints benefit. I hear the comments about KW being American so I would like to share my personal experience and insights. I was brought up in England, trained in Estate Management and worked as an Estate Agent for 3 years for Humberts (now Chesterton Humberts) before emigrating and for over 32 years being a Canadian Estate Agent. I fully understand the difference between the British and American culture and also the systems of selling real estate. The great thing is people in both cultures do share the same desire "to build careers worth having, busiesses worth owning and lives worth living", which is KW's mission statement. Having been with one of the other big American companies for over 23 years and very aware of all my options no one was more shocked than myself when, after "checking out" a new KW office in my community I quickly realised that this was the best place for myself and team to be. There were many reasons for this move but it is summarized best in the KW mision statement and the realisation that what I did yesterday to succeed is not necessarily what will make me successful tomorrow. I have been with them now for 16 months and I wish there had been opportunity to join them many years earlier. Again I would encourage you to investigate more closely and see if there is any opportunity for you, even if it is to glean some golden nuggets for your current business. I know KW UK will grow and the great thing is that it will be done "The British Way" with British leadership.
Wishing you all the very best as you seek to be the best you can be for yourself, your loved ones and those you have the privilege of serving in your place of work.
Blessings (-:
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Mr McSporran.
Do you actually REMEMBER the Britain you deserted some 30 years ago? Have you even the faintest recollection of our housing market; its foibles and its drivers?
Reading your statement above, I severely doubt it.
Never mind – KW will nevertheless be eternally thankful and feel duly blessed with your glowing review.
Have a nice day.
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This, like other stories, has raised some interesting and entertaining comment.
Ros……I know it's been said before but is there any way of keeping the "most commented" stories on the daily lists a bit longer? I know you said that we can search archives but it's "out of sight-out of mind" and some of the daily news stories are not as important as other issues. Persons may wish to comment articles but are on their day off so subsequently don't even read it.
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Hi Wilko – We have this in hand and will make it a feature of the site as soon as possible. We don't like seeing 'live' discussions disappear either!
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Yes PeeBee I very familiar with what is happening in Britain, in fact I will be there this Friday on Real Estate and family business. Sounds like you have had some bad experience with Americans and I am sorry about this.
Blessings.
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Nope – in fact I have Americans amongst my closest friends.
Something else, I am afraid, to add to the growing list of "things you apparently know squat about".
Oh – and you don't need to say you're sorry. a) you aren't; b) there is no b.
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Wonderful to hear you have these relationships.
A great old proverb I was brought up with is "The proof of the pudding is in the eating". So we can all relax and see what happens with KW in the coming years because what will be, will be.
Blessings
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"The proof of the pudding is in the eating…"
"…because what will be, will be."
Oh, absoflippinlutely!
You clearly like old phrases – you will therefore be aware of the following old cherry, Sir. I use it a lot when responding to those claiming to be the new 'Hovis':
"Bring it on."
Here's another. "Let the best man (…person…) win". There are already MANY "best people" out there in UK Estate Agency, happily doing what they do, I their own little corner.
WHY or HOW do you expect KW to upset what is an extremely steady applecart? WHY or HOW do you expect them to come in and succeed when SEVERAL non-UK outfits and MANY Brit firms with non-UK have already come in and failed catastrophically?
May I respectfully(ish…) suggest rather than offer out your blessings as you do, that you count them and keep them safe. The funding YOU are putting into KW will be going to cover the losses about to be racked up by the doomed UK venture – so best keep something back for yourself, eh?
Have a FANTASTIC day! 😉
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If, PeeBee, you are really so confident that your predictions are accurate, why the venom and angst? Why not allow KWUK to prove your position to be correct – or – do you think that your solo opinion can influence a company and a country?
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Typical – as soon as this story dropped off the "front page", all the pumping stopped.
Companies who engage in such practices should not be given column inches. They simply waste space that REAL stories could take.
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