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"Furthermore, aside from increasing your business without floor time, KW offers a profit sharing plan. To participate, you only have to share the KW philosophy with other agents. Soon you'll have them joining KW with you and that's all it takes. Each agent contributes a split to the office and part of that is put into a profit sharing pool to be shared among the participating agents. The more successful the office is, the bigger the checks that come in, even when you're not doing any business!"
Was that the profit sharing you were talking about? It sounds a little multi-level marketing to me...
"Furthermore, aside from increasing your business without floor time, KW offers a profit sharing plan. To participate, you only have to share the KW philosophy with other agents. Soon you'll have them joining KW with you and that's all it takes. Each agent contributes a split to the office and part of that is put into a profit sharing pool to be shared among the participating agents. The more successful the office is, the bigger the checks that come in, even when you're not doing any business!"
Was that the profit sharing you were talking about? It sounds a little multi-level marketing to me...
KW does have a profit sharing program. If you bring in a lot of new agents and they do well, then it works for you. But, as someone said before, don't go into it thinking the profit sharing will make you rich. Do your own work - grow your own business and wealth. If the profit sharing comes to you, great. If not, you've lost nothing.
"Furthermore, aside from increasing your business without floor time, KW offers a profit sharing plan. To participate, you only have to share the KW philosophy with other agents. Soon you'll have them joining KW with you and that's all it takes. Each agent contributes a split to the office and part of that is put into a profit sharing pool to be shared among the participating agents. The more successful the office is, the bigger the checks that come in, even when you're not doing any business!"
Was that the profit sharing you were talking about? It sounds a little multi-level marketing to me...
KW profit share is not designed as "multi-level marketing." In multi-level marketing, your primary mission is to generate recruits, not to sell product or services.
At KW, profit sharing is NOT the primary driver for any good agent. Yes, there are some people who are more interested in "selling" KW than in selling real estate, but they are the exception and pretty easy to spot. They usually come off as glassy-eyed fools who selfishly aggravate everyone with a real estate license.
The pitch to join KW should be all about the training and support, and the company and culture. It should stand on its own without mention of profit sharing. The profit sharing is just a nice "extra" for some agents.
Here is one way to spot the level of training and support at a KW branch:
Go to the Office website. Click through to see all agents. One by one, click their websites.
First, note the link. If it is AgentNameHomeMaven.com, or some other personalized domain redirected to the canned, free website, the agent shows the bare minimum activity in building an internet brand.
If it is something like http://x3.141592653.yourkwagent.com/ the agent isn't well trained, or isn't trying.
Then read the site.
The canned, free KW website has for years included the following home page "prose":
" Welcome to the best resource for searching for homes, provided by "Agent Name," Keller Williams Realty
A home is not a home because of its room dimensions or the color of the walls. It is about how you feel when you walk through the front door. And the way you can instantly envision your life unfolding there.
This is about more than real estate. It is about your life and your dreams.
Different by design
Keller Williams Realty takes a different approach to real estate, one that is built on personal touches, win-win deals and positive results.
Agent Name utilizes the latest technologies, market research and business strategies to exceed your expectations. More importantly, we listen and that means we find solutions that are tailored to you.
How we can help
Thanks for starting your real estate search with us. This website is full of information for you whether you are looking to buy or sell.
After you have had the chance to review this information, contact me so we can tell you more about how we can help.
We appreciate the opportunity to earn your business."
I would propose that in a forward-thinking office, it would be hard to find more than a handful of agents who would use that text to present themselves to the market hoping for contact from consumers.
An agent who has not revised that text for any period of time has either not been trained well regarding presenting a credible internet presence and outreach, or has embraced a different business generation model other than internet outreach.
If you are going to build and "own" your brand, the domain, website, and email address are great places to start.
Last edited by MikeJaquish; 03-05-2015 at 09:48 PM..
You can go to KW and learn how to recruit agents or go to RE/MAX and learn how to sell houses...I'm kidding, sort of. KW has excellent training but so do RE/MAX, ERA, CB, C21, among others. You need to meet the local brokers and see who will invest time in you to help you learn the business. Also consider joining a team.
I'd be curious to the guys saying KW has the best training to tell us what other companies they've worked at that they can make such a statement? If it's really the best why do their agents rank 8th in sides per agent and 3rd in transactions closed despite having the most agents?
You can go to KW and learn how to recruit agents or go to RE/MAX and learn how to sell houses...I'm kidding, sort of. KW has excellent training but so do RE/MAX, ERA, CB, C21, among others. You need to meet the local brokers and see who will invest time in you to help you learn the business. Also consider joining a team.
I'd be curious to the guys saying KW has the best training to tell us what other companies they've worked at that they can make such a statement? If it's really the best why do their agents rank 8th in sides per agent and 3rd in transactions closed despite having the most agents?
OK, Tom, Jr. You're on.
For years, KW has aggressively recruited agents right out of licensing classes. More so, and more successfully, than many other firms.
This leads to a higher head count, and more newbies who pull down stats per agent.
And, of course, those newbies churn through the rosters faster, as real estate brokerage is a high failure endeavor.
Regarding the "best" training...
"Nolo contendere."
When a person enters real estate with no sales experience, that person should have a pretty good grip on their personal ethic and core beliefs, or "training" might well convince a weak person that a LOT of lamentable activities regarding how to deal with people are acceptable.
LOL...Not quite. I didn't start it, just countered it because I just don't want the poster to believe everything they see on the internet!
It was actually a real question. When I see someone from any brand, my own included, making general statements I like to know the foundation. To me no matter what company you "say" has the best training it's an opinion, not a fact. So I'm curious what background formed their opinion? Is it from having worked at different companies and going through coaching programs? If so it lends validity to their opinion. If they are repeating something they heard w/o ever working anywhere else then it means nothing.
Regardless, the best training is done on a local level so go meet the people on a local level and see where you feel you'll be set up for success.
"Furthermore, aside from increasing your business without floor time, KW offers a profit sharing plan. To participate, you only have to share the KW philosophy with other agents. Soon you'll have them joining KW with you and that's all it takes. Each agent contributes a split to the office and part of that is put into a profit sharing pool to be shared among the participating agents. The more successful the office is, the bigger the checks that come in, even when you're not doing any business!"
Was that the profit sharing you were talking about? It sounds a little multi-level marketing to me...
The profit sharing structure is simply a benefit that Keller Williams offers. Not all agents participate in it, and there is certainly no expectation or pressure to participate in it. It is definitely NOT a multi-level marketing program, because your income does NOT depend on how those under you perform. It's strictly passive income. You can choose to ignore it completely and concentrate on your real estate business.
It is advertised as a benefit, because if an agent is so inclined, they can recruit other agents -- when those agents contribute to the profitablity of the office, then you, as their sponsor, will also profit. It's profit SHARING -- instead of owners keeping 100% of an office's profit, part of the profit is distributed to the owners, and the other part is distributed among agents who have brought in other performing agents and added to the profitability of the company. Some agents with a deep down-line have a respectable passive income from the performance of those under them. And some agents don't bother, and just want to do their own thing with listing and selling. Nothing wrong with that, either. Some agents have taken the model and run with it, building big downlines. Most of them may have only one or two friends who have joined because of their satisfaction with KW. (But then their friends may have people who join, who also become part of your down-line, and so on and so on . . . )
The point is, if you are happy with your Keller Williams office, and your satisfaction influences an agent from another brokerage to join KW and contribute to the office's performance3 -- you share in the rewards. You aren't penalized if you choose not to participate.
KW profit share is not designed as "multi-level marketing." In multi-level marketing, your primary mission is to generate recruits, not to sell product or services.
At KW, profit sharing is NOT the primary driver for any good agent. Yes, there are some people who are more interested in "selling" KW than in selling real estate, but they are the exception and pretty easy to spot. They usually come off as glassy-eyed fools who selfishly aggravate everyone with a real estate license.
Amen to that!
Quote:
Originally Posted by MikeJaquish
An agent who has not revised that text for any period of time has either not been trained well regarding presenting a credible internet presence and outreach, or has embraced a different business generation model other than internet outreach.
If you are going to build and "own" your brand, the domain, website, and email address are great places to start.
I had to chuckle at that. Some agents are technologically savvy -- others can barely program the alarm on their phone. There are agents who spend quite a bit of time, effort and money to develop comprehensve, individualized websites. Those are the ones that wouldn't be caught dead with the generic KW website. Others, especially newer agents without the financial resources, can play with the generic website and can modify it a great deal, so that it is almost unrecognizable as a "canned" website.
You can lead an agent to a website, but you can't make them use it. :-)
I am in the same boat, though I recently got my license. I did take my pre licensing classes at Go though, and I can say that they were top notch in that regard. They are still on my list of contenders for where I may hang my license if I can ever decide.
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