Keller Williams Reports First Quarter 2022 Results | News
AUSTIN, Texas–(BUSINESS WIRE)–May 6, 2022–
Keller Williams (KW), the world’s largest real estate technology franchise by number of agents, reports first quarter 22 results, after achieving significant growth and topping the franchise and corporate culture charts.
“We are proud to report that our agents closed another record quarter in sales volume,” said Carl Liebert, CEO of kwx, an integrated home experience company. “Outperforming the market, our agents increased their sales volume by more than 10% compared to Q1 21.”
United States and Canada (Q1 22 production)
- Agents closed sales volume of $108.4 billion, up 10.5% from the first quarter of last year.
- Agents closed 258,400 transactions in Q1 22, down 5.2% from Q1 21.
- Agents saw 154,000 new listings (new market inventory), down 5.0% from Q1 21.
- Agents wrote 295.8,000 contracts (expected closes), down 7.3% from Q1 21.
- The volume of contracts written was $126.2 billion, up 8.2% compared to Q1 21.
“The appreciation in home prices has resulted in agent commissions far exceeding the rate of inflation,” said Marc King, president of KW. “We continue to rely on our world-class training, coaching and technology to ensure our agents are ready to weather the headwinds of rising mortgage rates and continued housing supply constraints.”
Keller Williams has 173,944 agents in the United States and Canada and 15,700 agents operating outside 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 in the US and globally.
“Our homes sold represent our second-highest record for a first quarter on this key metric,” said Jason Abrams, chief industry officer, kwx. “We are overall pleased with our agents’ performance under hypercompetitive market conditions.”
Keller Williams Worldwide (KWW) Momentum (production outside the US and Canada in Q1 22)
- As of March 31, the number of agents outside the United States and Canada was 15,700, up 21.6% from Q1 21.
- Agents closed 16,500 transactions in Q1 22, up 25.9% from Q1 21.
- Agents achieved sales volume of $3.2 billion, up 27.1% from Q1 ’21.
- Agents saw 26,300 new listings (new market inventory), down 4.1% from Q1 21.
- Agents wrote 19,200 contracts (expected closes), up 18.3% from Q1 21.
- The volume of contracts written was $2.9 billion, up 25.5% compared to Q1 21.
“The credit for our quarter after quarter of aggressive international growth goes to our tech-savvy agents, fueled by our powerful training and business models,” said William E. Soteroff, president of KWW. “Our pipeline remains strong for new regions around the world.”
Outside of the United States and Canada, KWW regions include: Albania; Argentina; Aruba; Belgium; Belize; Bermuda; Cambodia; Chile; Colombia; Costa Rica; Cyprus; Czech republic; Dominican Republic; Dubai, United Arab Emirates; France; Greece; Guyana; Honduras; Indonesia; Ireland; Israel; Italy; Jamaica; Japan; Luxemburg; Malaysia; Mexico; Monegasque; Mongolia; Morocco; Nicaragua; Northern Cyprus; Panama; Paraguay; Peru; Philippines; Poland; Portugal; Porto Rico; Romania; Sao Paulo, Brazil; Saudi Arabia; Serbia; Saint-Martin ; Slovenia; South Africa; Spain; Suriname; Thailand; Turkey; Turks and Caicos Islands; UK; Uruguay; and Vietnam.
Company and Industry Highlights
- In January, Swanepoel listed Gary Keller as the most powerful person in real estate.
- In January, Entrepreneur magazine ranked KW No. 92 in its 2022 Franchise 500 ranking.
- In January, KW ranked #51 on Glassdoor’s Best Places to Work 2022 list.
- 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 executives to the 2022 Real Estate Newsmakers.
- In February, Forbes ranked KW 140th on its list of America’s Top Big Employers 2022.
- In February, KW announced an expansion to Sint Maarten.
- In February, kwx acquired CPros, a provider of concierge transaction management services.
- In February, Levi Rodgers was named director of KW Military.
- In March, KW was named to Entrepreneur’s 2022 list of fastest growing franchises.
- In March, HousingWire featured KW on its list of 2022 Tech100 Real Estate Winners.
- In March, six young KW professionals were named to REALTOR® magazine’s “30 Under 30” list.
- 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 the RealTrends 500.
- In March, KW announced an expansion into Guyana.
- In March, KW announced a strategic partnership with Scale Bolt Insurance Services.
- In March, Swanepoel named KW the No. 1 real estate franchise in terms of number of agents, deal sides and sales volume.
“In Q1 22, we continued to build and revamp our KW communities and business segments,” said Sajag Patel, Head of Coaching, Communities and Learning, KW. “We empower our agents to focus on growing the business through more connection, empowerment and impact.”
“We plan to continue to actively attract agents across the spectrum of their real estate careers,” Patel said. “Our training and coaching is second to none and continues to drive agent production, leveraging best practices and lessons learned from our top real estate producers.”
About Keller Williams
Headquartered in Austin, Texas, Keller Williams (KW), the world’s largest real estate technology franchise by number of agents, has more than 1,100 offices and 200,000 associates. The franchise is also #1 in units and sales volume in the United States.
KW is in the process of forming kwx, an integrated home experience business. kwx will consist of Keller Williams Realty Inc., Keller Williams Worldwide and Keller Home Financial Services, comprising Keller Mortgage, Keller Offers, Keller Covered, Keller Title and The Partnership Platform.
Since 1983, the company has cultivated an agent-centric, technology-driven, education-based culture that rewards agents as stakeholders. For more information, visit kwx.kw.com.
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KEYWORD: UNITED STATES NORTH AMERICA CANADA TEXAS
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Source: Keller Williams
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PUB: 05/06/2022 10:00 AM/DISC: 05/06/2022 10:02 AM