Keller Williams Q3 earnings continue to show growth
Keller Williams increased its agent count and number of transactions this quarter
BYAMBER TAUFEN STAFF WRITER
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Numbers only tell part of a company’s story, of course — but they’re an important indicator of how any given company is doing at any given point in time.
This quarter’s earnings report from Keller Williams continues to tell a story of growth.
The company reports $78.9 billion in sales volume in the third quarter of 2016, a 15.2-percent increase over the third quarter of 2015. It also reports that its agents closed 279,289 transactions in Q3 (up 12.7 percent over Q3 2015), and that franchisee owner profit and profit share increased 7.5 percent and 10.4 percent year-over-year, respectively.
“During September, when traditional real estate is content to slow down, we set all-time company records in every major production category we track,” said John Davis, president of Keller Williams, in a statement. “Our agents are focusing on the right activities at the right time. They’re expanding market share and funding bigger lives for their families.”
Keller Williams also reports that its net agent count grew by 5,431 agents in Q3, bringing its total agent count in the U.S. and Canada to 139,367. The company’s worldwide associate count is 152,331 and includes agents, office leadership, staff and coaches.
“While our top teams are closing more than 1,000 transactions annually, the median across Keller Williams is now between 7 and 8 [transactions per agent],” said Darryl Frost, spokesperson for Keller Williams.
“Our units per agent are holding strong, and both volume per agent and GCI [gross commission income] per agent have increased year-to-date in the midst of enormous gains in agent count,” added Frost.
“Our agents and local leadership teams are working hand-in-hand to build strong businesses and deliver a great consumer experience,” said Chris Heller, CEO of Keller Williams, in a statement.
Year to date, Keller Williams reported that:
- It’s global associate count is up 16.8 percent year-over-year.
- Closed transactions total 739,548 units, up 15.5 percent year-over-year.
- Its sales volume is $206.6 billion, up 18.9 percent year-over-year.
- Owner profit is $142 million, up 14.2 percent year-over-year.
- Profit share is $122.1 million, up 17.1 percent year-over-year.
For the fourth quarter of the year, Keller Williams is looking at these key performance indicators that could help forecast Q4 performance:
- In Q3 2016, agents took 177,134 new listings, an 8.2 percent increase over Q3 2015.
- The volume of listings taken totaled $53.4 billion, up 12.7 percent over Q3 2015.
- Agents wrote 295,977 contracts (projected to close in 60 days), up 11.9 percent over Q3 2015.
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