Texas-based megabrokerage Keller Williams kicked off its annual “Family Reunion” this past weekend, bringing thousands of agents together from around the world for what is billed as an all-purpose conference in Atlanta, Georgia. Featuring everything from a pickleball tournament and lip-sync battles, to panel discussions on deeply technical topics, the event has long been billed as one of the more high energy—and emotional—real estate events.
Monday morning, Keller Williams co-founder and executive chairman Gary Keller took the stage for what has also been a traditionally free-wheeling and fast-moving annual keynote, joined by top company executives to discuss the market and other hot topics in real estate.
The mercurial CEO as usual, had plenty to say, after previously using the same stage to call out rival brokerage leaders and opine on federal policy. Here are the four biggest takeaways from his speech:
Who cares about the Compass-Anywhere merger?
Somewhat tangentially as he discussed market trends, Keller noted that the largest merger in recent history for real estate “is under a little bit of scrutiny” based on allegations of “backroom relationships that greased wheels,” pointing to a letter by almost 20 Democratic lawmakers questioning whether the deal should have been more scrutinized.
“Do we care?” Keller asked the audience.
“I don’t,” said Keller Williams Head of Industry Relations Jason Abrams, who was also on stage with Keller. “I don’t either,” Keller agreed.
There are bigger issues for Compass, Keller claimed, including that “they built a brand, and now they’re going to put that name on a lot of other brands.”
Keller also highlighted private listings and disclosures, and without specifically calling out Compass and its flagship “three-phase marketing” plan, said that “other competitors’ disclosures” are actually “thinly disguised marketing pitches.”
“My concern is, are consumers getting the whole truth? And I will tell you that if we’re not using the proper disclosures when we’re talking to a seller about private (listings) or go straight public—just remember, if you’re not fully disclosing, you’ll be the next person sued,” Keller said. “Because it will be the next big class action in this industry, if there’s no disclosures.”
The Fed stays the course
Keller also briefly touched on the still uncertain path of inflation and mortgage rates, taking some time to provide background on the Fed’s process, and how mortgage rates are more connected to the 10-year Treasury yield than the federal funds rate that members of the central bank control.
Keller noted that President Donald Trump is “doing everything he can” to remove Fed governors and insert his own appointees.
Will this actually influence rate cuts in 2026 (with two cuts currently projected)? No, Keller said, based on the numbers. Even with one or two more members appointed by Trump, most of the 12-member body of the Federal Open Market Committee appears unified on the current path.
“The way that they (are) voting is the way they’re going to continue to vote right now. That’s right. That’s all you need to know about that,” Keller said.
Macro uncertainty and AI
Fresh off a Supreme Court ruling that largely struck down global tariffs imposed by Trump’s administration, Keller seemed to be anticipating even more global upheaval in 2026, noting that these types of dynamics often make people “go to the sideline and say, ‘Maybe it’s not a good time to make big decisions.’”
“Policy volatility—it’s a very real thing, fellas, right?” Keller asked the on-stage execs.
Keller still predicted sales would pick up, to 4.3 million in 2026. He added that it would still take some time for that momentum to manifest, noting that rates were close enough that “you’re in the ballpark now of cooking with gas” as the “lock-in effect” (homeowners who got ultra-low rates in 2020-21) begins to fade.
“I think that for the first six months of this year, it’s going to feel like all of last year and then I think it’ll change,” he said, only adding that “something is going to happen” in the second half of the year to help jump-start housing markets.
But overall, Keller highlighted “chaos and volatility” in the outlook for 2026, including a less-than-sunny perspective on where AI investment brought the economy.
“When you have that much money being invested, that’s over exuberance. There are going to be losses,” he said. Keller also pointed to what at least some experts have noted regarding the current market boom centered on AI, calling the investments that have driven growth “a big circle.”
Keller was still generally convinced that AI is a huge factor for the economy (and real estate), also claiming that AI is only going to replace jobs that don’t “bring value.”
Pitching young people on buying homes.
Keller noted that only 20% of buyers were first-time buyers, down from a recent high of 40%.
“That’s not great,” he said.
Why is that the case? Affordability is clearly the main barrier, as young people’s wages have failed to keep pace with the fast rise in home prices, even as many express the desire to own a home. Sentiment is largely negative for Millennials and Gen Z regarding their ability to achieve homeownership.
Keller decried what he called “a lost decade of appreciation” and said agents have a role in helping younger people “make a good choice,” arguing that data shows young people (around age 30) are actually roughly at the same level of financial achievement to previous generations at the same age, in terms of net worth.
“All this doom and gloom and they’re doing pretty well,” said Abrams.
But importantly, the gaps between the haves and have-nots have grown in the younger generation, Keller said, and he claimed the difference is real estate.
“If they don’t buy real estate, the gap is getting bigger and bigger,” Keller said.
Agents have to be the ones to help young people, Keller said, and evangelize on social media and elsewhere.
“We’re in the profession of helping people make good decisions around real estate. We’ve got a generation here that’s not making a good decision. They’re not figuring it out and they need your help,” he claimed.
