KW South Florida sets a new profit-sharing record
The good news keeps coming in! The Keller Williams South Florida Region set an all-time record in May with the highest profit-share in one month: $719,300.
To put this accomplishment in perspective, Keller Williams International’s (KWI) profit share was $32 million in 2009. That was for the entire year. Just last month, KWI had a profit share of $22 million. At the current pace, KWI is expected to see a total profit share of $180 million in 2018.
“Our Regional Leaders are keeping their foot on the gas of growth,” said Mark Olesh, region director. “We have grown by 62 percent over our first 5 months last year. We have grown by 302 agents through May ’18 with 302 agents. We also closed 13,745 through May of this year — the most successful start in our history.”
Olesh added the new virtual assistant Kelle — exclusive to Keller Williams — has had a significant impact on the Region’s success. “Since we started using Kelle earlier this year, our agents have been part of over 1,700 referral opportunities generated by the app. It gives our agents an incredible advantage in the marketplace.”
Why profit sharing instead of revenue sharing?
KW uses a profit-sharing model because it’s a win-win for all. When the business owners make a profit, their associates make money.
Revenue sharing, on the other hand, can lead to one party making money while the other party loses money. If the owners are not making a profit on the sale, or are making a small profit, they can quickly lose money on each transaction with revenue sharing. Obviously, this is not a sustainable business model in the long term.
As a positive byproduct of profit sharing, agents are motivated to share their ideas, models, and creativity. Rather than feed a culture of everyone out for their own interests, KW’s profit-sharing model nurtures an environment of mutual success.
Category: News
