Performance
Austin, TX | May 6, 2022
AUSTIN, TEXAS May 6, 2022 — Keller Williams (KW), the world’s largest real estate technology franchise by agent count, reports Q1 ’22 results, having achieved significant growth and topped franchise and corporate culture rankings.
“We’re proud to report our agents have closed out another successful record-breaking quarter in sales volume,” said Carl Liebert, CEO of kwx, an integrated home experience company. “Outperforming the market, our agents increased sales volume more than 10% over Q1’ 21.”
United States and Canada (production in Q1 ’22)
- Agents closed $108.4 billion in sales volume, up 10.5% from Q1 last year.
- Agents closed 258.4 thousand transactions in Q1 ’22, down 5.2% over Q1 ’21.
- Agents took 154.0 thousand new listings (new market inventory), down 5.0% over Q1 ’21.
- Agents wrote 295.8 thousand contracts (projected closings), down 7.3% over Q1 ’21.
- Contracts written volume was $126.2 billion, up 8.2% over Q1 ’21.
“The appreciation of home prices has resulted in agents’ commissions far outpacing the rate of inflation,” said Marc King, president, KW. “We’re continuing to lean into our world-class training, coaching and technology to ensure our agents are poised to face the headwinds of higher mortgage rates and ongoing housing supply constraints.”
Keller Williams is home to 173,944 agents in the United States and Canada and 15,700 agents operating outside of the United States and Canada, for a total of 189,644 agents worldwide, as of March 31, 2022.
In Q1 ’22 alone, KW added 1,523 net agents across the U.S. and worldwide regions.
“Our homes sold baseline represents our second-highest record for a Q1 across that key metric,” said Jason Abrams, head of industry, kwx. “We are overall pleased with the results of our agents amid hypercompetitive market conditions.”
Keller Williams Worldwide (KWW) Momentum (production outside U.S. and Canada in Q1 ’22)
- As of March 31, agent count outside the U.S. and Canada was 15,700, up 21.6% from Q1 ’21.
- Agents closed 16.5 thousand transactions in Q1 ’22, up 25.9% over Q1 ’21.
- Agents closed $3.2 billion in sales volume, up 27.1% from Q1 ’21.
- Agents took 26.3 thousand new listings (new market inventory), down 4.1% over Q1 ’21.
- Agents wrote 19.2 thousand contracts (projected closings), up 18.3% over Q1 ’21.
- Contracts written volume was $2.9 billion, up 25.5% over Q1 ’21.
“The credit for our quarter after quarter of aggressive international growth belongs to our tech-enabled agents, fueled by our powerful training and business models,” said William E. Soteroff, president, KWW. “Our pipeline remains strong for new worldwide regions.”
Outside of the U.S. and Canada, KWW’s regions include: Albania; Argentina; Aruba; Belgium; Belize; Bermuda; Cambodia; Chile; Colombia; Costa Rica; Cyprus; Czech Republic; Dominican Republic; Dubai, UAE; France; Greece; Guyana; Honduras; Indonesia; Ireland; Israel; Italy; Jamaica; Japan; Luxembourg; Malaysia; Mexico; Monaco; Mongolia; Morocco; Nicaragua; Northern Cyprus; Panama; Paraguay; Peru; Philippines; Poland; Portugal; Puerto Rico; Romania; São Paulo, Brazil; Saudi Arabia; Serbia; Sint Maarten; Slovenia; Southern Africa; Spain; Suriname; Thailand; Turkey; Turks and Caicos; United Kingdom; Uruguay; and Vietnam.
Corporate and Industry Highlights
- In January, Swanepoel ranked Gary Keller as the No. 1 most powerful person in real estate.
- In January, Entrepreneur magazine ranked KW No. 92 on its 2022 Franchise 500 ranking.
- In January, KW ranked No. 51 on the Best Places to Work 2022 list by Glassdoor.
- In January, KW unveiled KW Sports + Entertainment, a new business community.
- In February, Stacey Onnen was named head of new business operations.
- In February, RISMedia named seven KW leaders to the 2022 Real Estate Newsmakers.
- In February, Forbes featured KW at No. 140 on its list of America’s Best Large Employers 2022.
- In February, KW announced an expansion into Sint Maarten.
- In February, kwx acquired CPros, a concierge transaction management services provider.
- In February, Levi Rodgers was named director of KW Military.
- In March, KW was named to Entrepreneur’s 2022 Fastest-Growing Franchises list.
- In March, HousingWire featured KW on its list of 2022 Tech100 Real Estate Honorees.
- In March, six young KW professionals were named to REALTOR® Magazine’s “30 Under 30”.
- In March, KW announced a partnership with RealNex.
- In March, KW’s European franchises helped house Ukrainian refugees.
- In March, KW was recognized as “the most prolific franchise network” on RealTrends 500.
- In March, KW announced an expansion into Guyana.
- In March, KW announced a strategic partnership with bolt to scale insurance services.
- In March, Swanepoel named KW the No. 1 real estate franchise by agent count, transaction sides, and sales volume.
“In Q1 ’22, we continued building and revamping our KW business communities and segments,” said Sajag Patel, head of coaching, communities and learning, KW. “We’re enabling our agents to focus on business growth through more connection, empowerment, and impact.”
“We expect to continue aggressively attracting agents across the full spectrum of their real estate careers,” said Patel. “Our training and coaching are second to none, and continue to boost agent production, leveraging the best practices and lessons learned of our top real estate producers.”
About Keller Williams
Austin, Texas-based Keller Williams (KW), the world’s largest real estate technology franchise by agent count, has more than 1,100 offices and 200,000 associates. The franchise is also No. 1 in units and sales volume in the United States.
KW is in the process of forming kwx, an integrated home experience company. kwx will be composed of Keller Williams Realty Inc., Keller Williams Worldwide and Keller Home Financial Services, consisting of Keller Mortgage, Keller Offers, Keller Covered, Keller Title and The Partnership Platform.
Since 1983, the company has cultivated an agent-centric, technology-driven and education-based culture that rewards agents as stakeholders. For more information, visit kwx.kw.com.
Back to All
I am a seasoned real estate professional with a deep understanding of the industry's intricacies and trends. Having closely followed the evolution of real estate technologies and franchises, I can confidently delve into the key concepts presented in the article about Keller Williams' Q1 '22 results.
1. Sales Performance Metrics:
- Keller Williams (KW) reported impressive Q1 '22 results, achieving substantial growth and outperforming the market.
- Agents closed $108.4 billion in sales volume, marking a notable 10.5% increase from Q1 '21.
- Despite a slight decrease in the number of transactions and new listings, the overall sales volume and contracts written demonstrated significant positive momentum.
2. Global Reach:
- KW boasts a massive agent network, with 173,944 agents in the United States and Canada and an additional 15,700 agents outside of these regions, bringing the total to 189,644 agents worldwide.
- The company's international segment, Keller Williams Worldwide (KWW), experienced robust growth, with agent count, transactions, sales volume, and contracts written all showing substantial increases.
3. Market Challenges and Strategies:
- Marc King, president of KW, acknowledged the challenges posed by the appreciation of home prices, leading to agents' commissions outpacing the rate of inflation.
- KW remains proactive, leveraging world-class training, coaching, and technology to help agents navigate challenges such as higher mortgage rates and housing supply constraints.
4. Corporate Achievements and Expansion:
- KW received several accolades and rankings, including Gary Keller being ranked as the most powerful person in real estate by Swanepoel.
- Entrepreneur magazine ranked KW No. 92 on its 2022 Franchise 500, and the company was listed as one of the Best Places to Work in 2022 by Glassdoor.
- KW demonstrated a commitment to global expansion, adding new regions like Sint Maarten and Guyana.
5. Diversification and Innovation:
- KW showcased diversification and innovation efforts by introducing KW Sports + Entertainment and acquiring CPros, a concierge transaction management services provider.
- The company's foray into integrated home experiences, forming kwx with Keller Williams Realty Inc., Keller Williams Worldwide, and Keller Home Financial Services, reflects a forward-thinking approach.
6. Technology and Training Focus:
- KW emphasized the role of technology-enabled agents, powerful training, and business models in driving quarter-after-quarter international growth.
- Sajag Patel, head of coaching, communities, and learning at KW, highlighted the focus on building and revamping KW business communities and segments to empower agents for business growth.
In conclusion, Keller Williams' Q1 '22 results showcase a dynamic and resilient real estate franchise that not only adapts to market challenges but also consistently innovates and expands its global footprint. The emphasis on technology, training, and a diversified business approach positions KW as a leader in the ever-evolving real estate landscape.
