Market Overview

Keller Williams Reports Q3 '20 Results

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Keller Williams ("KW"), the world's largest real estate technology franchise by agent count and the U.S. leader in units and sales volume, achieved significant training and technology milestones and topped industry and franchise rankings in Q3 '20.

"Our agents experienced their most productive quarter ever in Q3," said Josh Team, president of Keller Williams, who assumed all duties and responsibilities previously held by outgoing CEO Gary Keller in early October. "It's inspiring to see Keller Williams agents capture a massive amount of new business through channels like Command and Facebook social ads. Then, they are converting that new business and helping clients buy and sell safely at a pace that is simply unprecedented."

Keller Williams is home to 161,885 agents in the United States and Canada and 11,442 agents operating outside of the United States and Canada, for a total of 173,327 agents worldwide, as of September 30.

"The challenges our industry is facing in 2020 have inspired our team to work to refine and speed to market the models, systems and tools top agents need to win today," said Team. "We know we can't expect things to go back to the way they were. That's why we are working with our agents daily, understanding the hurdles they face and developing in real time what they need now."

Training, Technology and Industry Highlights

  • In September, KW set attendance records while hosting its first fully-digital Mega Camp, an annual training and technology user conference. Mega Camp hosted 34,848 agents from 59 countries with 70% of registrants being first-time attendees.
  • As of end of Q3 '20 (YTD), 47,312 real estate agents attended BOLD Pivot, a re-engineered, digitally-delivered version of its signature BOLD coaching offering.
  • In Q3 '20 alone, 120.8 million home searches were conducted across the KW App, KW.com, and market center and agent websites, down 0.9% from Q2 '20.
  • Command, a smart CRM-plus suite of apps hosted on the Keller Cloud, made available originally in Q1 '19, now has 143,104 active users, as of September 30. Active users are up 7.3% over Q2 '20.
  • As of the end of Q3 '20, agents had added a cumulative 60.8 million contacts in Command since launch in 2019, up by 10.4% from Q2 '20 end.
  • In Q3 '20, 18,597 live referrals were sent within the Keller Cloud, representing $5.2 billion in sales volume; up by 18.2% from Q2 '20 end.
  • Over Q3 '20, the Campaigns App of Command, a smart ad campaign creation and syndication tool, generated 723,363 leads across Facebook (703,630) and Instagram (19,733) alone; maintaining pace from Q2 '20 end.
  • In Q3 '20, average cost per lead (ACPL) for KW agents inside Command was $1.76 in the U.S. and Canada across social media platforms. ACPL for Facebook was $1.69.
  • As of September 30, agents have created a cumulative 2,131,741 unique designs (since launch) via Designs, a real estate-centric graphic design app that was released in late Q2 '19.
  • As of September 30, agents have run a cumulative 21,111,975 SmartPlans, the automated marketing and task management app with Command, since launch. More information is available on the features and benefits of SmartPlans.
  • As of the end of Q3 '20, agents have tracked and managed 2,419,800 pending deals across phases of the sales pipeline (appointment, active, under contract, and closed) since launch in the Opportunities app of Command, up 33.3% from Q2 '20 end.
  • As of September 30, active users of the Opportunities app hit 122,550, up 12.8% from Q2 '20 end.
  • As of the end of Q3 '20, agents had created a cumulative 59,441 neighborhood videos (YTD), offering real-time neighborhood information through videos created in Designs, with 5.4 videos per user in Q3 '20, up 14.9% over Q2 '20. More information on neighborhood videos is available.
  • In July, Forbes recognized KW on America's Best Employers for Women ranking.
  • In August, Entrepreneur magazine named KW among the 2020 Top Global Franchises Ranking.
  • In August, KW was recognized on Forbes' America's Best-in-State Employers list.
  • In September, Entrepreneur magazine ranked KW among the 2020 Top Growth Franchises.
  • In September, KW was recognized on Forbes' America's Best Employers for New Graduates list.

"Our agents have positioned themselves to continue to grow and capture more market share," said Gary Keller, executive chairman of KWx, the recently announced parent holding company of Keller Williams, and co-founder of KW. "And, our commitment to work hard and innovate on their behalf has never been stronger."

United States and Canada (production in Q3 '20)

  • As of September 30, agents closed 374,824 transactions, up 16.0% over Q3 '19.
  • Agents closed $127.5 billion in sales volume, up 25.4% over Q3 '19.
  • Agents took 208,501 new listings (new market inventory), up 5.2% over Q3 '19.
  • Agents wrote 407,790 contracts (projected closings), up 21.1% over Q3 '19.
  • Contracts written volume was $139.5 billion, up 32.8% over Q3 '19.

"The National Association of REALTORS® total closed transactions across the U.S. were up 12.8% and sales volume was up 22.7% over Q3 ‘19," said Team. "We are excited to again report our agents have outpaced our industry in terms of those KPIs," said Team.

"Keller Williams agents are committed to delivering an unmatched client experience no matter the market. They are doing that by staying learning based. I'm proud to see our agents not just committing to coaching and training, but learning from each other through digital events like BOLD Pivot and Mega Camp. Thousands of our agents are sharing their best practices, strategies and wins and helping each other succeed," said Team. "That's what makes Keller Williams so unique. We are a family."

Keller Williams Worldwide Momentum (production outside the U.S. and Canada in Q3 '20)

  • Keller Williams Worldwide (KWW) is home to 11,442 international agents and 249 market centers operating outside of the United States and Canada, as of September 30, 2020.
  • Agents closed 12,083 transactions in Q3 '20, up 47.4% over Q3 '19.
  • Agents closed $1.8 billion in sales volume, up 54.9% from Q3 '19.
  • Agents took 26,457 new listings (new market inventory), up 14.4% over Q3 '19.
  • Agents wrote 15,054 contracts (projected closings), up 38.2% over Q3 '19.
  • Contracts written volume was $2.2 billion, up 119.0% over Q3 '19.

Outside of the U.S. and Canada, KWW's regions include: Argentina; Aruba; Belgium; Belize; Bermuda; Cambodia; Chile; Colombia; Costa Rica; Czech Republic; Dominican Republic; Dubai, UAE; France; Greater Shanghai, China; Greece; Honduras; Indonesia; Ireland; Israel; Italy; Jamaica; Japan; Luxembourg; Malaysia; Mexico; Monaco; Morocco; Nicaragua; Northern Cyprus; Panama; Paraguay; Peru; Philippines; Poland; Portugal; Puerto Rico; Romania; Serbia; Slovenia; Southern Africa; Southern Cyprus; Spain; Thailand; Trinidad and Tobago; Turkey; Turks and Caicos; United Kingdom; Uruguay; and Vietnam.

"Set within the challenges of 2020, agents are serving clients and facing increased consumer expectations for a seamless, integrated real estate experience," said Carl Liebert, CEO of KWx. "Our recent momentum shows how we are well positioned, and actively delivering on this opportunity. And, we're scaling and only accelerating on those efforts on behalf of our agents."

About Keller Williams

Austin, Texas-based Keller Williams, the world's largest real estate technology franchise by agent count, has more than 1,070 offices and 187,000 associates. The franchise is also No. 1 in units and sales volume in the United States.

In 2015, KW began its evolution into a technology company, now building the real estate platform that agents' buyers and sellers prefer.

Since 1983, the company has cultivated an agent-centric, technology-driven and education-based culture that rewards agents as stakeholders. For more information, visit kw.com.

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