Keller Williams profit gets a boost from higher sales volume

The brokerage also expanded its voice assistant offerings

Aug.August 13, 2018 05:30 PM

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.

Related Articles

Eric Gordon

Eric Gordon on the evolution of the residential data game — and how to stay competitive in the new world

Big Tech locations in NYC

MAP: Here’s a look at all the Big Tech locations in NYC

What will proptech look like in 2019 and beyond?

An example of roll-off waste management (Credit: YouTube, iStock)

Big building owners prevent city from dumping container-pickup in trash-collection reform

From left: RealPlus' Eric Gordon, Corcoran's Pam Liebman, Halstead's Diane Ramirez, Douglas Elliman's Howard Lorber and Brown Harris Stevens' Bess Freedman (Credit: Eric Gordon by Emily Assiran, Getty Images, Halstead, BHS, iStock)

Terra sells part of RealPlus stake to Corcoran and Elliman

“I can talk about erections all day”: NAR tech consultant’s bizarre fireside chat

Council member Vanessa Gibson (Credit: New York City Council)

Commercial landlords face new fines as City Council passes anti-harassment bill

As House begins impeachment inquiry, here’s what we know about Trump’s Ukraine-real estate ties