If you are anything link me, you are full of questions and a lot of those questions revolve around getting paid the most for selling real estate while having a fair commission split. As a new agent you are probably wondering how the Keller Williams Commission Structure compares to other companies and what benefits the Keller Williams Commission Structure offers new and experienced agents.
At Keller Williams, every agent is on either a 64/30/6% commission split or a 100/0% plan. So the agents will be getting 64% while 30% will be forwarded to the market center which will be based on the cap which is determined by the associate vote where the agents are treated as stakeholders. And the remaining 6% will be given to the main company.
Already sounds too good, right? There’s still more. And once you’re done with the whole article, you’ll understand that the agents are not the ones working for Keller Williams but it is the company (Keller Williams) that is working for them. The organization ensures that they don’t get paid unless their agent gets paid first. So, let’s get more into details.
In my experience and research of Keller Williams and countless other real estate companies, the Keller Williams Commission System has 5 main benefits vs. other programs available to agents.
One of the many benefits of the Keller Williams Commission structure is that you’ll only have to pay once you close a deal. Agents working at Keller Williams always get the higher end of the bargain and they’re able to enjoy greater cuts from what they earn for the company.
There is also the profit-sharing scheme where new agents are asked to name a sponsor. Someone who made them choose Keller Williams out of all the other real estate firms. The person might be an old or current employee working at Keller Williams. It can also be someone who’s indirectly connected to the company
Now comes the main part. Remember the 30% that you’re sharing with the market office? Your sponsor will be getting a percentage of that income from the office itself. This potion is given to the sponsor to let them know how grateful the company is for receiving a new agent who will work to further develop the company in the future.
And when the sponsor finally decides to retire or leave the company, the company will share a portion of the profit with them each month. So not only will you be helping another employee at Keller Williams, but you’ll also be receiving attention for being recommended at their splendid company.
As previously mentioned, the Keller Williams Commission Split Structure has a very lenient commission split system when compared to its traditional counterparts. One of them being that it treats its new agents with the same dignity as the old ones. So you won’t have to worry about getting bullied or looked down upon at your workplace since Keller Williams strictly maintains a policy to treat all their employees fairly.
If you’re a new agent, you’ll be receiving the same commission as all the other agents and will even be provided with training facilities. So don’t worry about receiving a lower cut than the agent who’s been working at the agency for 15 years as both your commission splits will be identical. And Keller Williams is one of the few firms to do so.
The training program is another factor for which Keller Williams has garnered such a huge name for itself in recent years. Let’s say you’re a new agent who doesn’t know how to do his job properly yet. You will be provided with training as the company is aware that you won’t be of any use if you don’t know how to do your work properly.
They will also provide you with the necessities for your training so that you can maximize your utility and potential. The agents will need to take advantage of the facilities being provided to them as it will help them harness their skills.
Are you worried about having to pay the broker for the entirety of the year? This is where the cap system plays a vital role. At Keller Williams, they have a firm and fixed cap amount that you have to pay for the year. In that sense, when you settle that amount, you’ll be able to keep 100% of your commissions.
If you’ve earned around $400,000 in a year and the market cap amount rests at $25,000, you’ll be receiving $375,000 as your annual income as you’re only conditioned to pay the cap amount. And once you’ve paid that amount, you can enjoy the total percentage of your income for the rest of the year.
And the year won’t be according to the Gregorian calendar. The year starts once you join the company. And in this very way, you’ll be able to make more profit compared to the other agents working at different companies. Keller Williams’ company truly wants the best for its agents and treats them with respect.
If you thought you’d have a treat time working as a single, then wait till you learn how perfect Keller Williams is for working couples.
If you happen to have a wife or husband working at Keller Williams as well, then you’ll be able to split the cap amount between yourselves as well.
This is great news for the lovely couple. For instance, say you’ve made an annual salary of $400,000. And the market cap is $25,000. Now, if you were working for the company all alone, you’d have to pay that amount all by yourself thus lowering your commission, leading to a lowered annual income.
But when your spouse is also working at the same company, both of you can pay the cap amount altogether. As individuals, you’d have to pay $25,000 each but now the two of you can split the payment between yourselves and receive a higher annual income. In this way, you’ll end up paying the cap sooner and enjoy the rest of the year with a 100% commission back.
Keller Williams is an open book company. In other words, you won’t find yourself in messy situations trying to find out whether you’re being lied to. The company takes accountability for all their actions and refrains from keeping any secrets.
Keller Williams wants the best for its employees and works to help them in securing more profits so that everyone as a whole gets a taste of the reward of success.
The ultimate goal of this open-book management is to allow the workers to receive information relating to their work. This will not only benefit then individually and help them work more proficiently but will also let them know how the company is operating. They will be able to understand the motives of the business and will know how the company is doing all together.
This method is very important as it will dissolve suspicions and there will be a more healthy relationship among the workers; particularly the agents and their brokers.
At Keller Williams, not only will you be successful as a businessman, but will also earn more profit because this system allows you to maximize your financial success.
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