Keller Williams Culture
An Inspirational Story
I’m so proud of my company. At Keller Williams Family Reunion in Dallas in 2013, our equivalent to a convention, the company featured a new Keller Williams market center in Des Moines, Iowa. The largest real estate company in the area, Iowa Realty, refused to pay commission to any Keller Williams agent that sells one of their listings. I had read about this and knew that there was a pending lawsuit filed by Keller Williams against Iowa Realty. But that isn’t what was so surprising.
The owners of the Des Moines Keller Williams market center decided that they could not accept their profits knowing that many of their agents weren’t receiving a commission check when they sold a house, instead they donated their profits toward the “Family Fund” that was then used to assist these agents. On top of this, all other agents in the market center that receive a commission on a sale, voluntarily agreed to pay 5% of their commission toward the “Family Fund.”
Wow! If that isn’t giving to the family, I don’t know what is.
Culture Queen Takes Action
To top it off, Mo Anderson, our Culture Queen who hosts the Inspirational Brunch at Family Reunion, asked that the rest of us in the room, probably close to 9,000, donate to help “make them whole.” The total collected was over $100,000. Additionally, agents voluntarily donated $5 – $10 out of each commission check for the next year to help these KW Iowa agents.
Word soon got out that Keller Williams Realty takes care of their own despite the unethical practices of others. The question was does Iowa Realty?
Everyone in the room was questioning how Iowa Realty can do this and what are they doing with the other half of the commission collected from the seller? I still don’t have the answer to this, but there was no doubt in my mind that Iowa Realty would begin to lose market share when their clients start to question their ethics and turn away and hopefully turn toward Keller Williams. Additionally, as some of these agents at Iowa Realty started to question the actions of their company, they started looking for a new place to hang their hat. Their first stop was the nearest Keller Williams office.
Keller Williams Perseveres
The Iowa Realty company was purchased by another company and soon realized that their policy of not paying Keller Williams agents was hurting their image. Many of the previous Iowa Realty agents did move to Keller Williams after they saw how Keller Williams stepped in to cover the lost income of their agents. In 2015 they started paying Keller Williams agents the appropriate co-op commission.
This video was produced after the “other” real estate company finally came around and started paying Keller Williams agents the advertised commission for co-op agents. It is rumored that their hard stance against Keller Williams was causing them to lose agents and market share. The Des Moines office continues to grow and now has over 200 agents.
If you think Keller Williams is a good fit for you, please register on my recruiting site and I will give you a call and answer any questions you may have about Keller Williams or the real estate business.
By Nancy Murray
Murray & Associates, Keller Williams Colorado Springs