Is Keller Williams rising or falling — or has it settled into a role of venerable franchise network in a growing ecosystem of international brokerages?
The team’s executive leadership shifts give the appearance that change is afoot. Gary Keller, who founded the Austin, Texas-based company, stepped down last year down as CEO. Holding company KWx was created, with Carl Liebert, someone outside the real estate industry, named as its CEO.
Then in February, Josh Team announced on Facebook he was out as company president, replaced by Marc King, the company’s then-director of growth. RealTrends interviewed King in April about leadership pivots and the future growth of the company.
King has spent over a decade at Keller Williams, including leading the company’s Branson, Missouri, operation. He speaks reverently of Keller as someone who is obsessed with real estate agents and who, when he dies, “Will have ‘Realtor’ carved on his tombstone.”
How to measure Keller Williams’ success is not always easy. The brokerage is bursting with agents — 186,000 in the U.S. and Canada at last count — and is a traditionally “high-volume, low-margin” enterprise, King said. Other brokerages of such reach — Realogy, RE/MAX, Compass this list goes on — are publicly traded with readily available profit and revenue numbers.
Keller Williams has resisted the initial public offering path. “When everybody runs in one direction, Gary runs in the other,” King said.
HousingWire spoke over the phone with King about what it’s like to work with Keller and leading a company in a time of acute social turmoil. Here’s an edited version of that conversation:
HousingWire: Did becoming president of Keller Williams necessitate a move to Austin?
Marc King: I moved to Austin officially in March. I bought a house and was reminded how important a real estate agent is. You would think someone with my experience might not need one, but the local real estate expert is so important, them being the fiduciary in action.
My agent knew street-to-street the tax rates, which is important because property taxes are so much higher in Texas. Understanding if it was good land to have horses, or where the local landfill is, and where the good school districts are. My agent was very good. …..Article continues on Housingwire.com.
This article was originally published by HousingWire. The full article is available on HousingWire.com for HW+ Members.
