The Real Deal New York

Keller Williams profit gets a boost from higher sales volume

The brokerage also expanded its voice assistant offerings
By Meenal Vamburkar | August 13, 2018 05:30PM

Ilan Bracha and John Davis of Keller Williams (Credit: Getty Images and t360)

Keller Williams franchises raked in higher profits last quarter.

The brokerage reported $98.3 billion in sales volume in the U.S. and Canada in the second quarter — up 8.7 percent from a year earlier. Franchisee owner profit rose 1.3 percent year over year to $70.3 million, according to a release from the company.

The growth comes as the firm has been expanding its artificial intelligence-based assistant, Kelle. Through the service, agents can access listings, market reports, referrals and contacts. In the second quarter, 8,680 live referrals were sent through Kelle, the company said. That represented $2.07 billion in sales volume.

“With market snaps and other new skills released into general availability recently, we’re seeing substantial jumps in our agents’ engagement with Kelle,” said Darryl Frost, a spokesperson for the company.

Keller Williams, which has claimed its the largest real estate franchise by agent count, ended the quarter with more than 186,000 agents. It gained roughly 4,700 agents globally during the quarter.

Earlier this year, Keller Williams NYC saw a shakeup, with leadership departures, agent defections and plans to downsize. Josiah Hyatt, who had been the interim “team leader” for the Midtown-based franchise, left the firm. Lezley Charles, who held the position of CEO of that franchise, was reportedly laid off.

Prior to the changes, Keller Williams NYC generated around $1 million in profits each year since 2014.