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Debunking the Keller
Williams Myth
Adam Lerman
Keller Williams – Myth vs. Fact
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Myth – KW is a destination company
Fact - KW has a 7 months retention rate (nationally)
Myth – Everyone qualifies for profit sharing
Fact – In 2011, only 23% of all KW associates “qualified” for
profit sharing
• Myth – Everybody makes thousands of dollars in profit
sharing
• Fact - Out of that 23% that “qualified” for profit sharing, the
average amount was $416 (which equals $1.14 a day)
“I’d rather do one rental a year and
not have to spend my time recruiting.”
Keller Williams – Myth vs. Fact
• Myth – Profit sharing is easy to “qualify” for
• Fact- In order to receive profit sharing:
– You have to recruit and your recruit has to close business
– You must have a transaction in the same month as your down line and
that your office and/or their office must be profitable the same month
as their transaction occurred. Otherwise, you do not receive any share,
the profit stays with the owners.
– Your market center has to be profitable (look out for “losses carried
forward”). Even if your team is productive, if your market center is
not profitable, you are out of luck!
– Are you aware that once you are capped, the profit sharing does not
apply?
Keller Williams – Myth vs. Fact
• Myth – I get a 100% split
• Fact - In some cases, you can reach a 100% split:
– After you reach $28K to $30K in company dollar
– Split resets after anniversary date no matter what
• Myth – KW’s primary marketing platform is its profit sharing
• Fact - KW’s marketing is now primarily focused on their
training not profit sharing
Sales Associate Testimonials
Associate Testimonials – Associate #1
Pressure to
recruit instead
of list and sell
real estate . . .
• “I was told that we would receive a % of
profit that goes to company opposed to % of
what agent made. That sounded good to
me. I thought I would just give a name to
the manager and the manager would do the
recruiting for me”.
• “Recruiting was such a big deal, it was too
much pushing to recruit instead of selling. I
was more attracted to Weichert’s
compensation and no pressure to recruit”.
Associate Testimonials – Associate #1
• “Weichert gives me more resources
in the office and out (GSM, MRC, etc).”
• “Went to KW ‘Mega Camp’ and was
Weichert gives
disappointed with the ‘camp’. It was just
resources and
seminars that really didn’t help my
training. KW
charges for
business.”
training.
• “I pay for both Mega Camp and the regional
seminar. Was pressured to join the ‘BOLD’
classes - $800 (among all other expenses).”
• “Going through Fast Track was so much
more concrete in really helping you sell real
estate as opposed to KW. Half of the
training was for recruiting.”
Associate Testimonials – Associate #1
Weichert focuses
on listing and
selling real estate.
KW focuses on
recruiting.
“Weichert wants an office full of active agents
as opposed to KW who will just recruit anyone
(doesn’t matter who sells or not).”
Associate Testimonials – Associate #2
• “They kept dragging me to these ‘motivational’ seminars again
and again. My sales managers kept on saying ‘I got bodies to
attend.’ It was all about numbers and not people.”
• “We were supposed to have a mentor that we were paying for
but they fired our mentor and didn’t tell us.”
• “We were told we would get a new mentor and we would have
to pay again!”
Associate Testimonials – Associate #2
• “KW left us out in the cold. It was more a push to recruit
than sell real estate. Whenever I had a question for someone
in the office, they told me they’d help me, but their fee is
$XX.”
• “They kept pushing me to join a team. When you’re on a
team, only the Team Leader is allowed to handle listings. I
would just have to handle buyers. I didn’t want that.”
• “Many fees you find out AFTER your first transaction. I was
not a fan of that.”
• “Average cost per copy per page is 25 cents and an average
document in my state is 36 pages so it’s approximately $9
every time you want to print out a document. This nickel and
diming adds up over time.”
Associate Testimonials – Associate #2
“I have been with Weichert for one month
and I am 100% better off than when I was
with KW. We were paying all these fees with
no business so we wanted to go to Weichert.”
Probing Questions…
• Have you read the entire ICA?
– Tell me about the hidden “small print” fees…
– You’ll see the E&O is not necessarily cheaper. KW agents must indemnify
KW and cover the deductible. Weichert’s E&O insurance premium covers the
deductible. Our associates are covered 100%.
• Do you understand how the profit sharing system works?
– Can you show me a profit sharing check?
– Are you aware that once you are capped, the profit sharing does not apply?
– How many people are in your “downline?”
• Why do you think you can make more at KW?
– Do you really get a 70% split after you pay for the desk fees, the copy fees and
other office or training fees?
– What monthly fees are you currently paying?
Probing Questions…
• Did you know that KW does NOT have a lead generation system to
supplement the associates business? Do you feel your company
should be supplementing your business?
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Weichert Lead Network is open 7 days a week, 9am to 9pm
We’ve generated over 1 million qualified leads to our associates
Weichert.com generates over 3.3 million visits a month
Weichert drives traffic to their offices websites – 200,000 views a month
Weichert listings gain additional exposure from Realtor.com, Trulia, Zillow
and other major real estate sites
• Are you getting the necessary support form your manager regarding
your real estate business?
– Do you feel you are being pushed too hard to concentrate on recruiting rather
than your own business
– Do you feel your manager is solely recruiting “bodies” instead of productive
associates who will make the office thrive?
Manager Testimonials
THANK YOU!!!
Adam Lerman
Director of Recruiting – Weichert, Realtors
973 397-3559
alerman@weichertrealtors.net