As real estate firms begin to reveal their final numbers for 2016, Austin, Tex.-based giant Keller Williams has detailed its numbers for last year, reportedly shattering its fourth-quarter and year-end records for agent production, profit and profit share. Keller Williams is not only one of the industry’s largest real estate franchises in terms of dollar volume and transactions, it is the largest residential firm as measured by active sales agent count.
“Our agents and local leadership teams have turned in a championship-level performance,” announced Keller Williams President John Davis today. “By leveraging technology, training, and tools to set big goals and focus on their most impactful activities, they’ve boosted their production.”
Keller Williams has reported the following production numbers for Q4 and year-end 2016, which, according to the firm, are up by double-digit percentage points over 2015.
Q4 2016 Results
- Agents closed 238,056 transactions in Q4, up 17.1 percent over Q4 2015.
- Agents closed $67.1 billion in sales volume, up 22.2 percent from previous Q4.
- Franchisee owner profit in the third quarter was up 23.5 percent over Q4 2015 to $37.9 million.
- Profit share increased 27.1 percent over Q4 2015 to $32.4 million.
Year-End Results (as of December 31, 2016)
- Franchise is home to 154,979 global associates, up 15.1 percent over FY2015.
- Closed transactions totaled 977,603 units, up 15.9 percent over FY2015.
- Sales volume was $273.6 billion, up 19.6 percent over FY2015.
- Owner profit was $179.9 million, up 16.1 percent over FY2015.
- Profit share distributions totaled $154.4 million, up 18.9 percent over FY2015.
Q1 Outlook (KPIs indicative of Q1 performance)
- Agents took 133,992 new listings (new market inventory), up 7.5 percent over Q4 2015.
- Listings taken volume totaled $39.2 billion, up 10.7 percent over Q4 2015.
- Agents wrote 244,280 contracts (projected closings), up 14.4 percent over Q4 2015.
- Contracts written volume was $68.4 billion, up 18.5 percent over Q4 2015.
According to Keller Williams CEO Chris Heller, “Our agents were very purposeful about building momentum for the New Year and the evidence is showing up in the numbers. Our agents took $1 billion more in listings in December than they did the previous December. With the uncertainty of the election behind us, historically low mortgage rates, and the technology our team is deploying, our agents are strongly positioned to grow their businesses and deliver a better experience to consumers.”
Stay tuned to RISMedia as more brokerages weigh in on 2016, including our 2017 Power Broker Report, ranking the Top 500 real estate firms by sales volume for 2016, coming this April.
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