Keller Williams reports 25% surge in Q3 sales

Franchise firm’s agent count rose 2.7% in U.S. and Canada

National /
Nov.November 05, 2020 12:30 PM
Keller Williams' Josh Team and Gary Keller (Photos via Keller Williams; Keller Capital)

Keller Williams’ Josh Team and Gary Keller (Photos via Keller Williams; Keller Capital)

Buoyed by the national housing rebound, Keller Williams’ third-quarter sales volume grew 25.4 percent year-over-year, hitting $127.5 billion, the company said Thursday.

The brokerage franchise saw a sharp drop in sales during the second quarter as the pandemic froze homebuying. But it’s since rebounded: The number of contracts inked during the third quarter was up 21.1 percent year-over-year. As of Sept. 30, listings were up 5.2 percent.

For Keller Williams agents outside the U.S., sales volume surged nearly 55 percent year-over-year to $1.8 billion, and signed contracts were up 38.2 percent year-over-year as of Sept. 30.

“Our agents experienced their most productive quarter ever in Q3,” Josh Team, the firm’s president, said in a statement. Despite the pandemic, he said the pace of sales was “unprecedented” as the firm rolled out tools to help agents adapt to new ways of doing business.

“We know we can’t expect things to go back to the way they were,” he added.

Team said that Keller Williams agents outpaced national sales trends. According to the National Association of Realtors’ third-quarter report, closed transactions in the U.S. were up 12.8 percent year-over-year. In September, sales of previously owned homes rose to 6.5 million, a jump of 9.4 percent compared to August.

Based in Austin, Texas, Keller Williams is the largest brokerage franchise, with 173,327 agents worldwide. In the U.S. and Canada, it had 161,885 agents, up 2.7 percent compared to the second quarter.

In recent years, Keller Williams has shifted its focus to technology, saying it would invest $1 billion into tools to help agents. The company said Command, its CRM tool that launched last year, had 143,104 users as of Sept. 30, up 7.3 percent quarter-over-quarter.

During the third quarter, social media advertising tools netted its agents nearly 723,363 leads from Facebook and Instagram, roughly the same as the second quarter. The average cost per lead was $1.69.

In recent weeks, Keller Williams has been adjusting to a major change in its C-suite.

Last month, co-founder Gary Keller stepped down as CEO, with Josh Team, the company’s president, assuming his responsibilities. Keller served as CEO since 2019 but had long been the face of the brokerage. He is now serving as executive chairman of the board.





    Related Articles

    arrow_forward_ios
    Confidence is lowest in the Northeast and Midwest, at 73 and 70. (iStock)
    Homebuilder sentiment slides to 10-month low in June
    Homebuilder sentiment slides to 10-month low in June
    Elon Musk and the San Francisco estate (Getty, Gullixson / Compass)
    Elon Musk relists San Francisco mansion for $38M
    Elon Musk relists San Francisco mansion for $38M
    Daniel Humm and 40 Fifth Avenue (Getty, Google Maps)
    Chef Daniel Humm scoops Greenwich Village co-op from Chipotle founder
    Chef Daniel Humm scoops Greenwich Village co-op from Chipotle founder
    Opendoor CEO Eric Wu (Getty, Opendoor)
    Opendoor expands to Miami, 5 additional markets
    Opendoor expands to Miami, 5 additional markets
    The Closing: Janice Mac Avoy
    The Closing: Janice Mac Avoy
    The Closing: Janice Mac Avoy
    From left: One57 and HNA Group’s Chen Feng, 15 Hudson Yards, 188 E 64th Street and Barry Skolnick (Photos via Getty, StreetEasy, 15 Hudson Yards)
    Luxury market hot streak rolls on as Hudson Yards and One57 condos find buyers
    Luxury market hot streak rolls on as Hudson Yards and One57 condos find buyers
    The $8.9 million Mill Basin property (Bergen Basin Realty)
    Massive Mill Basin townhouse tops Brooklyn contracts
    Massive Mill Basin townhouse tops Brooklyn contracts
    Meet the 20-somethings funneling their crypto millions into real estate
    Meet the 20-somethings funneling their crypto millions into real estate
    Meet the 20-somethings funneling their crypto millions into real estate
    arrow_forward_ios

    The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

    Loading...