The second quarter has come to a close and Keller Williams agents have achieved significant technology and training milestones while topping industry and franchise rankings.
“Our agents have shown remarkable resilience and fortitude over the past several months,” said Gary Keller, co-founder and CEO of Keller Williams. “They have found opportunities to help people buy and sell homes, all while playing a critical role in their communities.”
“They are calling up their neighbors and simply asking, ‘How are you? How can I help?’” said Keller. “That can have a profound impact.”
“At the end of the day, real estate is all about relationships,” said Keller. “And right now, especially, technology is playing a significant role in those relationships. From offering a virtual tour to handling the specifics of the transaction through their app, our agents are able to serve their clients needs, safely.”
Technology & Innovation
Backed by a $1 billion commitment for technology development, Keller Williams continues to deliver on its promise to provide tools that allow agents to create customized, digitally-enhanced experiences for their clients.
“While others in the industry might be pulling back on their investment in agent technology, we are making sure our people have what they need to grow and thrive,” said Josh Team, president, KW. “Through iterative improvements and the addition of timely new features – such as virtual tours – we’re proud to deliver technology that helps our agents win within our new normal.”
- In Q2 ’20 alone, 122.0 million home searches were conducted across the KW App, KW.com, and market center and agent websites, more than double the home searches reported in Q1 ’20 when the brand’s new web- and consumer app-based home search experience launched.
- In May, KW updated its consumer app with a virtual home tour scheduling feature.
- Command, a smart CRM-plus suite of apps hosted on the Keller Cloud, made available originally in Q1 ’19, now has 133,329 active users, as of June 30. Active users are up 5.1% over Q1 ’20.
- As of the end of Q2 ’20, agents had added a cumulative 55.0 million contacts in Command, up by 10.2% from Q1 ’20 end.
- In Q2 ’20, 16,443 live referrals were sent within the Keller Cloud, representing $4.4 billion in sales volume.
- Over Q2 ’20, the Campaigns App of Command, a smart ad campaign creation and syndication tool, generated 722,733 leads across Facebook (702,328) and Instagram (20,405) alone; up 172.2% from Q1 ’20 end.
- In Q2 ’20, average cost per lead (ACPL) for KW agents inside Command was $1.77 in the U.S. and Canada across social media platforms. ACPL for Facebook was $1.71.
- As of June 30, agents have created a cumulative 1,727,123 unique designs via Designs, a real estate-centric graphic design app that was released in late Q2 ’19, up 36.8% from Q1 ’20 end.
- As of June 30, agents have run a cumulative 15,265,957 SmartPlans, the automated marketing and task management app with Command. This is up nearly twofold over Q1 ’20. More information is available on the features and benefits of SmartPlans.
- As of the end of Q2 ’20, agents have tracked and managed 1,814,735 pending deals across phases of the sales pipeline (appointment, active, under contract, and closed) in the Opportunities app of Command, up 41.7% from Q1 ’20 end.
- As of June 30, active users of the Opportunities app hit 108,599, up 32.3% from Q1 ’20 end.
“We are also laser-focused on helping our agents reduce their expenses while maximizing leads,” said Team. “Our integration and relationship with Facebook in Command has been a key contributor to this strategy. Agents are finding massive success in social ads, often paying less than one to two dollars per lead.”
Since 1983, Keller Williams has cultivated an education-based culture, allowing agents to thrive during seismic shifts. As expected and unexpected forces have come together to create economic uncertainty, KW has deepened its commitment to providing world-class training and coaching to help agents flex, evolve and succeed.
- In April, KW continued its “Pivot: Shift Ahead,” an online live training initiative with sessions on mindset, lead generation, remote working, expense management, leverage and more, originally launched in Q1 ’20.
- Livestream training consisted of 258 30-minute plus sessions. In April, KW collaborated with Facebook for virtual home tour training for agents.
- In May, 41,160 real estate agents attended BOLD Pivot, a re-engineered, digitally-delivered version of its signature BOLD coaching offering.
With 168,410 agents, Keller Williams is the world’s largest real estate franchise by agent count, and No. 1 in closed units and sales volume in the U.S. This stance strengthens as agents continue to deliver top-tier client experiences during unprecedented times.
United States and Canada (production in Q2 ’20)
- As of June 30, agents closed 272,103 transactions, down 15.4% over Q2 ’19.*
- Agents closed $85.3 billion in sales volume, down 15.0% over Q2 ’19.
- Agents took 177,726 new listings (new market inventory), down 22.7% over Q2 ’19.
- Agents wrote 315,044 contracts (projected closings), down 13.5% over Q2 ’19.
- Contracts written volume was $99.4 billion, down 12.8% over Q2 ’19.
“We outpaced the industry in terms of closed transactions,” said Team. “According to the National Association of REALTORS®, the number of closed transactions in the U.S. at the end of Q2 ’20 was 17.8% lower than the same period in 2019.”
“We responded to the demanding market challenges brought on by COVID by pivoting fast to empower our agents’ business to thrive in this unforeseen market,” said Team. “As a result, our agents maintained momentum. Although we did experience decreases in some of our key metrics, we maintained healthy profit levels while delivering more immediate training, coaching and technology value to support our agents.”
“We’re optimistic, and we believe our agents are best positioned to grow based on their activities taken within our platform and using our business guidance for market shifts,” said Team.
Keller Williams Worldwide (production outside the U.S. and Canada in Q2 ’20)
- Keller Williams Worldwide (KWW) is home to 10,760 international agents and 232 market centers operating outside of the United States and Canada, as of June 30, 2020.
- Agents closed 6,072 transactions in Q2 ’20, down 18.7% over Q2 ’19.
- Agents closed $912.4 million in sales volume, down 14.9% from Q2 ’19.
- Agents took 19,216 new listings (new market inventory), down 15.7% over Q2 ’19.
- Agents wrote 8,060 contracts (projected closings), down 21.9% over Q2 ’19.
- Contracts written volume was $858.0 million, down 16.4% over Q2 ’19.
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; Honduras; Indonesia; Ireland; Israel; Italy; Jamaica; Japan; Luxembourg; Malaysia; Mexico; Monaco; Morocco; Nicaragua; Northern Cyprus; Panama; Paraguay; Philippines; Poland; Portugal; Puerto Rico; Romania; Serbia; Slovenia; Southern Africa; Southern Cyprus; Spain; Thailand; Trinidad and Tobago; Turkey; Turks and Caicos; United Kingdom; and Vietnam.
- In April, Franchise Business Review recognized KW on Top Franchises for Women ranking.
- In April, Swanepoel Mega 1000 named KW the top U.S. real estate franchisor for the third consecutive year based on agent count, homes sold and sales volume.
- In May, 27 Keller Williams professionals were recognized on the 2020 NAHREP Top 250 Latino Agents Award.
- In June, REAL Trends ranked 106 KW top real estate teams and agents in the 2020 REAL Trends’ “The Thousand” list.
- In June, the franchise created a Social Equity Task Force to address any ‘racial disparities’ at KW.
Whether it’s through distributing our profits or serving in our communities, a culture of contribution is alive and well at Keller Williams.
- $32.9 million in profit share distributed to KW associates in the United States and Canada in Q2 ’20.
- $1.42 billion lifetime profit share distributed to KW associates in the United States and Canada.
KW Cares is a 501(c)(3) public charity created to support our associates and their families with hardship as a result of a sudden emergency.
As of June 30, 2020, $1.3 million in grant funding has been distributed to 82 deserving recipients. Since the organization’s inception, $42.1 million has been distributed to support KW associates and their families.
Founded by Gary Keller in 2015, KWKC is a 501(c)(3) educational nonprofit with a belief that the cultivation of a growth mindset and limitless goals needs to begin as early in life as possible. KWKC leverages the success of Keller Williams by bringing the company’s strengths in education and training to the next generation of world leaders in any industry through public events.
- 16 QL events in Q2 ’20.
- 745 lifetime QL events.
- 896 student-attendees completed Quantum Leap in Q2 ’20.
- 13,500-plus student-attendees completed Quantum Leap since its inception.
- 16 QL instructors taught the program in Q2 ’20.
- 370 QL instructors have taught Quantum Leap since KWKC’s inception.