The president of Keller Williams Realty has resigned “to truly put God and family first and then focus on business,” announcing the move as the firm lays off 30 employees.
Marc King has stepped down from his role at the Austin-based brokerage, and CEO Mark Willis’ title has changed to CEO and president, according to a news release.
“The pandemic, social unrest, wars, fires, lawsuits, and market contraction required more time on business, and it’s time that I make up for that,” King said in an email to colleagues.
Meanwhile, Willis confirmed rumors of layoffs in an email to staff.
“As for the layoffs that occurred at KWRI, we wish all these people the very best and are massively grateful for their contributions. The reduction in force of approximately 30 people at KWRI reflects the direction to get back to our core strengths and advantages (coaching, training, and proprietary technology),” it read.
“Keller Williams’ strategic direction is to focus more than ever on the models, systems, and tools that got us to where we are today and will propel us to where we are going. In short, we have decided to eliminate business opportunities that are distracting us.”
Keller Williams agreed last month to pay $70 million to settle the landmark antitrust suit over broker commissions stemming from the Missouri lawsuit known as Sitzer/Burnett.
Executive chairman Gary Keller, who testified in the Sitzer/Burnett trial, said the settlement would release the firm from liability in copycat lawsuits. A company spokesperson said at the time that the settlement would not “impact our operations or our ability to support our franchisees and agents.”
Keller Williams is also embroiled in a legal battle with its former CEO John Davis, who is accusing the brokerage’s leadership of racketeering and embezzlement.
King served as president for five years and previously served as director of growth. He will remain with the firm as a team leader, and he touted Keller Williams’ agent count — 177,377 — in his email.
—Rachel Stone
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