About Keller Williams

MARKETING SERVICES

Agent Consultation

Business Cards

Email Blast

Email Signature

Fire Stick Request

Schedule a face-to-face consultation to discuss any of your branding or marketing needs!

Needing to order new business cards?

Choose from a variety of KW design options.

Request a property email blast to go out through Agent Cloud or Command

Clean and simple.

This HTML email signature will make you shine!

Let us create a tailored House Presentation that utilizes the Amazon Fire Stick!

LUX Presentation

Logo Request

Property Brochure

Buyer Presentation Listing Presentation Utilize this refined Buyer’s Presentation to help first-time clients purchase a home!

Have a listing appointment for a new client? Get a personalized Listing Presentation today!

Experience pure bliss with the newly redefined Luxury Listing Presentation.

Take your business to new levels by requesting a customized logo.

A branding must!

This elegant bi-fold or tri-fold property brochure is sure to make your listing outshine the rest!

Property Postcard

Property Flyer

Sign Panels

Social Media Post

Window Display

Promote your new listing, closed listing, or coming soon with customized postcard!

Choose from various templates for a semi-custom 2-page Property Flyer.

Order signage today by placing an order with our preferred vendor, SPEED PRO.

Whether it’s Facebook or Instagram, request your social media post or image today!

Showcase and promote your new listing, front and center on our beautiful window display!

PRINT MARKETING FOR SALE / OPEN HOUSE SIGNS

BUSINESS CARDS

PERSONALIZED PRESENTATION/CMA’S

ANNOUCEMENTS

POSTCARDS/BROCHURES/FLYERS

DIGITAL MARKETING EMAIL BLASTS WEBSITE CONSULTING

SOCIAL MEDIA SET UP / CONSULTING

TECHNOLOGY Technology Icons Kelle 2018 Inman Innovator Award KW Technology Your KW Branded Mobile App Where Does my Listing Go?

Keller Cloud A p l a c e t o m a n ag e yo u r wh o l e b u s i n e s s f r om transactions to client communication.

Labs Dashboard A c o l l a b o r a t i ve a p p r o a c h t o t e c h n o lo g y d e ve l o p m e n t . P l a y w i t h i t . B r e ak i t . S u b m i t Feedback.

CGI Calculator Designed for funding a B I G l if e . S e t yo u r g o a l s . T r a ck yo u r g o a l s . Me e t a n d e xc e e d yo u r g o a l s .

K W M o b i l e S e a r c h Ap p C o n n e c t q u i ck l y a n d d i r e c t l y w i t h yo u r c l i e n t s a n d h a ve a l l i n q u i r i e s g o d i r e c t l y t o yo u .

Kelle-Your Personal As s i s t a n t F r o m o r g a n i zi n g s c h e d u l e s , g r o wi n g yo u r r e f er r a l n e t wo r k t o n a v i g a t i n g KW t e c h n o l o g i e s - m ob i l e .

KW Websites powered by Placester M o d e r n , R e s p o n s i ve , a n d I n t u i t i ve .

KW Connect The online source for Keller W illiams k n o wl e d g e s h a r e d b y KW ag e nt s a r o u n d t h e globe.

Gmail KW and Google Suite R e s o u r c e s t o m ak e yo u r b u s i n e s s r u n m o r e ef f i c i e n t l y.

eEdge: Campaigns and CRM A p l a c e t o m a n ag e yo u r c o n t a c t s a n d st a y i n t o u c h t h r o ug h r e a l estate focused campaigns

T e c h n o l o g y Ad v i c e and Setup H a ve t h e R I G H T technology– At the R I G H T t i m e - f o r yo u r business.

KWLS I n s t a n t s yn d i c a t i o n o f yo u r l i s t i n g s t o t h e t o p internet portals.

KW Command An integrated CRM to t h r i ve i n t o d a y ’ s h yp e r c o m p e t i t i ve m a r k et .

C AMPAIGN S YOU DON’T HAVE TO BE A MARKETING GURU TO CREATE AN EFFECTIVE CAMPAIGN THAT CONVERTS ACROSS FACEBOOK, INSTAGRAM, GOOGLE ADS, EMAIL, DIRECT MAIL AND MORE.

Command allows you to easily create email and advertising campaigns in just 30 seconds using data generated in the Keller Cloud ecosystem. Enjoy greater insights into what campaigns are working, what they should cost, what your returns should be, and how to better stretch your marketing and advertising budget.

Elevate and optimize your cross-channel marketing and advertising strategy with proven content to maximize the value of each dollar spent.

Set up and deploy a modern print marketing campaign to specific homes based on custom criteria.

Send out hyper-targeted emails to any segment in your database based on criteria you identify.

Integrated fully with other Command applications, allowing you to accurately track your leads-turned-opportunities across all channels.

Simpler.

Smarter.

More Human.

More than a CRM, Command is how you optimize, manage and run your business with unprecedented simplicity and insight.

Learn more at technology.kw.com

C ON TAC TS BETWEEN BUSINESS CARDS, LEAD FORMS AND DISCONNECTED SYSTEMS, CONTACTS CAN GET FORGOTTEN OR WORSE – LOST. IT’S TIME TO MASTER YOUR MOST IMPORTANT ASSET – YOUR DATABASE.

Enter, manage, customize and work your contacts with remarkable clarity and ease so you’re never out of touch and always top of mind.

Understand in a glance who you need to contact today.

Organize your contacts based on any custom criteria you choose.

All contacts sync across all Keller Cloud applications, making business cards and double data-entry obsolete.

Contacts can be added directly or through a simple voice command with Kelle – KW’s exclusive virtual AI assistant.

Built for teams, rainmakers get a quick, bird’s-eye-view of everyone’s database.

Simpler.

Smarter.

More Human.

More than a CRM, Command is how you optimize, manage and run your business with unprecedented simplicity and insight.

Learn more at technology.kw.com

D E SIGN S

Simpler.

Smarter.

More Human.

More than a CRM, Command is how you optimize, manage and run your business with unprecedented simplicity and insight.

GENERIC MARKETING THAT ISN’T LOCALIZED OR PERSONALIZED IS BOUND TO GET LOST IN THE NOISE. GET READY TO STAND OUT.

Designs helps your brand shine by pulling in powerful market data – sourced from one of the largest real estate data engines on the planet – so that one-to-many marketing becomes one-to-one.

Point, click and build beautiful, customized digital assets with real-time market data for email, social and beyond.

Craft templates branded to you and your business or leverage ready-to-go designs.

Add more meaning with local or individualized market data – such as appreciation or days on market.

Learn more at technology.kw.com

GR OU P S & C H AT EASILY SHARE INFORMATION WITHOUT FILLING UP YOUR EMAIL INBOX.

Simpler.

Smarter.

More Human.

More than a CRM, Command is how you optimize, manage and run your business with unprecedented simplicity and insight.

Groups takes online learning and collaboration to a whole new level. Quickly connect with some of the brightest minds in real estate about the topics you are most interested in, ask questions and learn from those that have been there and done that.

And with Chat, everything is at hand within Command.

From checking in on the status of a transaction with a member of your team or pinging someone about an upcoming training, Chat gets you the information you need, when you need it – fast.

Quickly and easily share information with the people most important to you and your business.

Find new connections to add to your referral network.

Work closely with your team and other top agents to learn, grow and further hone your expertise.

Learn more at technology.kw.com

I N DIVIDUALIZED I DX SITE S IF YOUR MARKETING ISN’T CUSTOMIZED AND LOCALIZED AT A CLIENT-LEVEL, IT’S BEHIND THE TIMES.

Command makes it simple to create personalized, one-to-one marketing for every client in your database that features insights and listings in the neighborhoods they are most interested in.

Point and click to create a unique site for every client with data-powered widgets that feature information on the neighborhoods they’re interested in.

Receive updates whenever your client looks at their personalized site, favorites a listing and more.

Share powerful hyperlocal data points through emails, social and more.

And, best of all, your clients won’t have to create an account or log in for you to receive leads.

Simpler.

Smarter.

More Human.

More than a CRM, Command is how you optimize, manage and run your business with unprecedented simplicity and insight.

Learn more at technology.kw.com

L A N D IN G PAGE S WHAT’S YOUR DATA-DRIVEN, DIGITAL LEAD CAPTURE STRATEGY?

Build professional websites that convert for any business case – a new listing, open house, event, neighborhood snapshot, listing presentation and more. These sites automatically update with hyperlocal data and seamlessly automate lead capture.

Point and click to create a quick and beautiful site that serves any need.

Create and share sites with specific contacts and get updated whenever they engage with it – giving you the opportunity for timely follow-up.

Data-powered widgets feature relevant content that update in real time.

Any leads captured through the pages funnel directly into your Contacts so you can track progress from lead to close and beyond.

Simpler.

Smarter.

More Human.

More than a CRM, Command is how you optimize, manage and run your business with unprecedented simplicity and insight.

Learn more at technology.kw.com

L IS TIN G C ON SU LT BECAUSE LISTING CONSULTATIONS SHOULD BE REAL-TIME AND QUICKLY CUSTOMIZED TO EACH AND EVERY CLIENT.

Simpler.

Smarter.

More Human.

More than a CRM, Command is how you optimize, manage and run your business with unprecedented simplicity and insight.

Combine your expertise with the data-rich environment of the Keller Cloud to build the listing experience of the future. Use hyperlocal insights to show clients unique trends in relation to their home, neighborhood and market.

With you expertly guiding them through the experience, they’ll gain confidence in your ability to deliver.

Create a unique value proposition for your client using tools that compare their property to homes recently sold nearby.

Develop a pricing strategy and forecast projections so each listing is in optimal market position.

Prepare and share a detailed and interactive go-to-market strategy with ease.

Learn more at technology.kw.com

L IS TIN GS

Simpler.

Smarter.

More Human.

More than a CRM, Command is how you optimize, manage and run your business with unprecedented simplicity and insight.

IT’S TIME TO MOVE BEYOND MLS.

Listings is your end-to-end portal to enter the photos and details of each of your listings, syndicate them, stay on top of alerts and more. And, because your listings are organized by neighborhood – not MLS or ZIP code – you bring relevant, community-specific insights to every listing, giving you the competitive advantage.

Access, update and manage your pre-listings and listings easily and intuitively.

Control where your listings are shared and promoted.

Populate ad campaigns, marketing materials and more with your listing’s details all in just a few clicks.

Learn more at technology.kw.com

R EF E R R AL S TAP INTO ONE OF THE LARGEST, MOST PROFITABLE REAL ESTATE NETWORKS ON THE PLANET.

Find trusted partners, negotiate and arrange specifics and keep tabs on exactly where in the transaction each referral is at all times.

Manage your referrals easily, so you can connect clients with agents, negotiate deals, and track transactions – anytime, anywhere.

Identify agents across the globe based on specialization, location, production, or membership, and add them to your referral network.

Fan out referral opportunities to a large group of agents to find the perfect match for your client at a hyperlocal level.

Send referrals to trusted agents in your network, setting rates, expiration dates and other conditions.

Simpler.

Smarter.

More Human.

More than a CRM, Command is how you optimize, manage and run your business with unprecedented simplicity and insight.

Learn more at technology.kw.com

S AL E S P IP E L IN E FOCUS ON YOUR CLIENT RELATIONSHIPS AND DOLLAR-PRODUCTIVE ACTIVITIES INSTEAD OF TEDIOUS PAPERWORK AND TOGGLING BETWEEN SPREADSHEETS.

Simpler.

Smarter.

More Human.

More than a CRM, Command is how you optimize, manage and run your business with unprecedented simplicity and insight.

Streamline the entire transaction – from lead, to close, to your next paycheck – all within a single, easy-touse dashboard that allows you to drag-and-drop deals between stages.

See listings, appointments, contracts, closed deals and projected revenue in one place.

Stay organized with simplified document management, real-time collaboration and more.

See the road ahead with real-time revenue projections and keep tabs on your cash flow.

Flexible team settings include permissioned visibility into individual member pipelines.

Learn more at technology.kw.com

S MARTP L AN S

Simpler.

Smarter.

More Human.

More than a CRM, Command is how you optimize, manage and run your business with unprecedented simplicity and insight.

SPEND LESS TIME ON PAPERWORK, MARKETING AND OTHER FUNCTIONARY TASKS AND MORE TIME DOING WHAT YOU DO BEST.

Create and deploy automated, customized workflows for any task you can think of – like drip marketing campaigns or listing checklists.

Easily automate your day-to-day with a simple drag-anddrop functionality.

Create simple decision trees and stay on top of email, texts or task reminders.

Design specific plans for contacts based on lead source, client history, neighborhood, interests or anything else.

Learn more at technology.kw.com

TAS K MAN AGE R FORGET JUGGLING THE REMINDER APPS, NOTEBOOKS AND STICKY NOTES. ORGANIZE ALL

Simpler.

Smarter.

More Human.

More than a CRM, Command is how you optimize, manage and run your business with unprecedented simplicity and insight.

OF YOUR TASKS DIRECTLY WITHIN COMMAND.

Task Manager has everything you need to stay on top of it all – complete with due dates, related documents and links. You can even opt in for Kelle reminders to help keep you on top of your to-dos when you’re on the go.

Turn your to-do list into action items by creating contactspecific tasks that track across Command.

Access a single, clear view of what you need to get done.

Schedule due dates and reminders to stay on top of your most important tasks.

Quickly see past and upcoming tasks associated with a contact and know what you’ve done and what’s to come.

Learn more at technology.kw.com

Your KW Branded Mobile App Key Features Dynamic Map

Find An Agent

Add a pinpoint or draw a perimeter to see nearby homes for sale, open houses, or rental properties.

Brand to you and share with anyone not already working with an agent.

Clients can send property inquiries instantly.

Full Screen Photo Gallery

Custom Searches

Scroll through vivid, full-screen photos of homes.

Add search filters like price, neighborhood, number of beds, open houses, and more.

Anytime Access

Be Calculated

Save searches and listings, including notes or added property photos, across all your devices.

Free mortgage calculator to estimate home loan and monthly payments.

Get Local

Share Information

See what schools and other points of interest are nearby.

Easily share homes through text, email, Facebook, or Twitter.

Your KW Branded Mobile App

Key Features Dynamic Map

Find An Agent

Add a pinpoint or draw a perimeter to see nearby homes for sale, open houses, or rental properties.

Brand to you and share with anyone not already working with an agent.

Clients can send property inquiries instantly.

Full Screen Photo Gallery

Custom Searches

Scroll through vivid, full-screen photos of homes.

Add search filters like price, neighborhood, number of beds, open houses, and more.

Anytime Access

Be Calculated

Save searches and listings, including notes or added property photos, across all your devices.

Free mortgage calculator to estimate home loan and monthly payments.

Get Local

Share Information

See what schools and other points of interest are nearby.

Easily share homes through text, email, Facebook, or Twitter.

KWLS

& Lis

WHER

E DO

tHub p news rovide a r eli sourc es to able, accu conn ect w rate, and in ith 50 ,000 dustry-fri broke e rs for ndly platf o the p urpos rm for pu bl e of a dvert ishers and ising their online rea real e l state estate listin gs.

ES M

Y LIS

TING

GO?

CULTURE & HONORS MVBP Mission, Vision, Value, Belief System, Perspective

KW Cares Breakthrough Moments Honors and Awards Happiest Place to Work in 2018 Find a Healthy Balance Don’t Believe Keller Williams Is A Tech Company? Think Again

To build CAREERS worth having,

BUSINESES worth owning, LIVES worth living, EXPERIENCES worth giving, And LEGACIES worth leaving

WI4C2TS WIN-WIN or no deal

INTEGRITY do the right thing CUSTOMERS always come first COMMITMENT in all things COMMUNICATION seek first to understand CREATIVITY ideas before results TEAMWORK together everyone achieves more TRUST begins with honest SUCCESS results through people

O UR PERSPECTIVE

O UR VISION O UR MISSION O UR B ELIEF S YSTEM

To be the real estate COMPANY OF CHOICE.

A training and coaching company that also provides the franchise systems, products and services that lead to productivity and profitability.

Keller Williams thinks like a top producer, acts like a trainerconsultant, and focuses all its activities on SERVICE, PRODUCTIVITY, and PROFITABILITY

OUR MISSION: KW Cares is a 501 (c)(3) public charity created to support Keller Williams associates and their families with financial hardship as a result of a sudden emergency.

KW Cares was the brainchild of Keller Williams agents who had a dream to reach out and support fellow KW associates facing financial hardship due to major emergencies. Mo Anderson, vice chairman of Keller Williams Realty, took this dream and brought it to fruition as a public charity. Today, KW Cares is supported by associates from across North America. It has truly become the heart of the Keller Williams culture in action, finding and serving the higher purposes of business through charitable giving in the market centers and communities where KW associates live and work.

This charity is the heart of the Keller Williams Realty culture in action – finding and serving the higher purpose of business through charitable giving in the communities where our agents live and work..

Each Market Center’s is asked to raise $30,000 annually for charitable giving with minimally 10% or $3,000 to be raised specifically for KW Cares. It is our hope that most of the money you raise as an office will stay in your own communities.

As a team, each Market Center should decide what portion of its overall fundraising goal will benefit KW Cares, how much will be for other charities, and how much will be for its local emergency needs fund. Your local emergency needs fund should be called something other than KW Cares. For example: Heart Fund, AHA (Agents Helping Agents), etc.

Learn more at KWCares.org

It is only through your generosity that KW Cares is able to make a difference in the lives of many in the Keller Williams family.

#1 in REAL ESTATE

FAST COMPANY

#1 most innovative real estate company INMAN

most innovative real estate TECHNOLOGY

agent count, closed units, and closed sale volume in the u.s. one of the worlD’s largest, most profitable referral networks indeed

OUTPACING THE COMPETITIOn

#1 workplace culture

WITH 1M+ transactions, $332b in volume

winner of nar hackathon

Forbes

one of the world’s

best employers for women

TRAINING MAGAZINE

TRAINING TOP 10 HALL OF FAME NEWSWEEK

#1 custoMer service CAREERBLISS

HAPPIEST COMPANY SWANEPOEL MEGA 1000

COMPRISED 30 PERCENT OF LIST 180k associates supported, $45M+ grants awarded, and 4K+ families helped

through kw cares

REAL TRENDS 500

COMPRISED 34 PERCENT OF LIST

breakthrough

moments

RISMEDIA POWER BROKER 1000

324 firms ranked, 916+ transactions, and $272B in volume

are what define Keller Williams They are what have gotten us up in the morning for more than three decades and counting.

From sharing profits, to agent-led leadership, to team and expansion models, to technology – we continue to reach new heights through innovation, disruption, and an uncompromising agent-first mindset.

And, the world is taking notice.

ARGENTINA, BELGIUM, LUXEMBOURG, CAMBODIA, TRINIDAD and tobago, ireland, AND CHILE JOIN

KW WORLDWIDE

Giving back to the community through red day

Honors and Awards • Number ONE real estate franchise in agent count, closed units, and closed sales volume in the United States • Training Magazine 2018 Keller Williams inducted into Training Top 10 Hall of Fame • REAL Trends 500 161 brokerages ranked by volume and 170 brokerages ranked by transaction sides - more than any other brokerage (34% of the list was KW Brokerages) • RISMedia’s 2018 Power Broker Top 1000 324 brokerages ranked, 916,864 transactions, and $272.3 billion in volume (32.4% of the list was KW) • Indeed Keller Williams named #1 workplace

for work/life balance and #1 for wokplace culture • Swanepoel Mega 1000 A ranking of top brokerages Keller

Williams made up 30.4% of the list • Inman Innovator Award Kelle won the award in 2018 for Most

Innovative Real Estate Technology • Forbes Keller Williams was featured on the list of America’s Best Employers for Women • NAR Hackathon KW Labs won the hackathon with an

app that takes still photos and tags room attributes • Newsweek’s 2019 Best Company for Customer Service Keller Williams ranked highest

in customer service in the ‘real estate agencies’ category • Career Bliss Happiest Companies in America Keller Williams ranked No. 2 with a CEO approval rating of 94%

• Principal 10 Best Companies for Employee Financial Security Keller Williams featured in Inc. Magazine for commitment to financial and physical wellness • Computer world Data+ Editors’ Choice Award Keller Williams recognized for its business intelligence system • Inc. Magazine 5000 Made list of fastest-growing private companies—for the fifth year in a row • Franchise 500 Made Entrepreneur magazine’s list of top franchises—for the fifth year in a row • Inman News Innovator of the Year Keller Williams is home to the real estate industry’s top innovator (Ben Kinney) • Swanepoel Power 200 In 2018 Gary Keller was named the most powerful person in residential real estate • Inman 100 Most Influential Real Estate Leaders Report 6 Keller Williams representatives • SwanepoelPower 200 Most Powerful People in Residential Real Estate Report 10 Keller Williams representatives • The #1 Training Organization in the World across ALL industries - Training Magazine • REALTOR Magazine 30 Under 30 7 Keller Williams finalists and 4 winners, including the Web Choice winner • REAL Trends 500 126 Keller Williams offices ranked by transactions and sales volume – more than any other real estate franchise

Find a Healthy Balance: Top-Rated Workplaces for Work-Life Balance in 2019 Posted on April 23, 2019

Do you consider your job very stressful? If so, you’re not alone — in a recent survey on workplace stress levels, 76% of respondents said stress at work has had a negative impact on their personal relationships, while 66% have lost sleep due to work stress.

But implementing best practices for work-life balance is crucial to getting the best out of employees. While long, demanding hours may give the superficial appearance of productivity, a balanced working style leads to happier, healthier and more impactful employees and can help with talent retention.

In fact, studies show that employees who believe they have good work-life balance work 21% harder than those who don’t. Interestingly, this number doesn’t require employees to actually participate in work-life benefits offered by their employers — but they need to be reassured that the service is there and they can take advantage of it if they need to.

So which companies are hitting it out of the park when it comes to setting an example of good work-life balance? We analyzed Indeed’s 100 million ratings and reviews to identify the companies receiving the highest ratings for helping employees achieve a healthy balance between the personal and professional. Here’s what we found.

Real estate giant Keller Williams leads for the second year running This year’s list includes a variety of industries, such as real estate, retail, banking, consumer goods, aerospace, health care and tech. But at the top, we see a familiar name: Keller Williams Realty, the real estate franchise that also placed first in last year’s rankings of the Top-Rated Workplaces for Work-Life Balance.

Keller Williams trusts their associates to make their own schedules and believes it gives them ownership of their time as well as their earning potential. It seems that giving people that kind of flexibility can have a big impact on work-life balance, as we see three additional real estate firms placing high in our rankings: Coldwell Banker (#5), Century 21 (#7) and RE/MAX (#8).

Meanwhile, West Coast burger chain In-N-Out Burger and financial services firm Capital One round out the top three. In-N-Out is known for offering employees above-average compensation, but its employees also enjoy flexible working hours, with one review stating the management “is always accommodating to your work/school/life schedule.”

Cisco (#4), the only tech company on this year’s list, offers a variety of perks to ensure its employees are happy and healthy — from on-site medical and fitness centers to a “fun fund” for each team to use on activities per quarter. The company also strongly encourages remote work, with most of their 80,000 employees working remotely at least part of the time.

To guarantee its employees operate comfortably, Cisco relies on state-of-the-art technology to make sure collaboration is seamless among employees.

Meanwhile, employees at our top retail company, H-E-B (#6), enjoy being able to have flexible schedules and working hours. One former cashier was very impressed by the “15 minute breaks on the dot and the accessibility to trade shifts at the click of a button.”

Another employee said the scheduling is the best perk and that “you are never scheduled when you are unavailable and it is very easy to post and pick up shifts.”

In addition to flexible hours, many companies on our list offer perks that empower employees to have a healthy balance among work, family, and individual time.

Capital One helps make working parents’ lives easier by offering alternative child-care options during a lapse in normal care arrangements and also gives up to 18 weeks of maternity leave.

Vans (#10), the shoe manufacturer known for their skateboarding shoes and apparel, offers employees alternative work schedules — meaning shortened Fridays every week of the year, in addition to an on-site gym and yoga classes.

Rounding out our Top-Rated Workplaces is consumer packaged goods company Johnson and Johnson (#15), which offers eight weeks of paid leave to all new parents at any of their operating companies around the world — maternal, paternal, adoptive or surrogacyassisted — as well as 17 weeks of paid leave to mothers in the U.S. who have given birth.

The best of the best: What are employees saying?

1. Keller Williams Realty Founded: 1983 HQ: Austin, Texas Austin, Texas-based Keller Williams Realty is the world’s largest real estate franchise by agent count. It’s also known for its agent-centric culture as well as its focus on training and education, and the company believes their primary role is to stand behind agents and help them grow their businesses.

The real estate giant’s employees definitely feel the love, with one employee describing the Keller Williams culture as collaborative, family-oriented and extremely supportive. “I enjoy making my own hours every week and being my own boss,” says another employee. “Being a realtor gives me the space and flexibility I need to create a better environment for my family.”

Another agent commented on the “excellent training culture that helps new agents quickly become earning agents,” adding that Keller Williams keeps agents happy and motivated with “support you rarely find in any career.”

2. In-N-Out Burger Founded: 1948 HQ: Irvine, California In second place is California-founded fast-food chain In-N-Out, known for its fresh burgers, fries and shakes. While the fast food chain has somewhat of a cult following, it’s not just the customers who love it. In-N-Out employees also have great things to say about their jobs and the work-life balance the company offers.

One employee says working at In-N-Out is a great job to have while attending school, pointing to reasons like good pay, flexible work hours, room for career advancement, fast pace and coworkers who are like family.

Another employee says In-N-Out “gives you plenty of chances for advancement and is always willing to work with your schedule.” While it’s a great place to work, the employee does note it “comes with its challenges just like any other job.”

3. Capital One Founded: 1988 HQ: McLean, Virginia Capital One, the bank-holding company specializing in credit cards, auto loans and banking/savings accounts, ranks tenth on the list of largest banks in the United States by assets. On our list, it ranks third for exemplary work-life balance, rising up through the ranks from sixth last year.

One employee says Capital One has the “best work culture I have ever experienced, along with great leadership,” adding that flexibility is the biggest perk the company has to offer and that it’s a really fun place to work.

A recurring theme in employee reviews is that employees feel cared for by the company.

“They offer extensive job training, encourage growth within the company, have outstanding benefits and provide a fun and engaging work environment,” one employee says. Another says Capital One is very focused on their associates and provide them with great benefits, PTO and work-life balance.

4. Cisco Founded: 1984 HQ: San Jose, California Cisco, the tech giant known for its computer networking products, walks the walk when they say they put their customer first.

“They will delay a deal that’s not in the customers’ best interest and will go to great lengths to solve customer problems,” one employee says, adding that Cisco also places a premium on work-life balance and treating employees with fairness and respect.

The company encourages its employees to be active in their communities and volunteer, as well as to “innovate and take risks.” Employees love Cisco’s emphasis on flexibility, saying the company offers “great collaboration tools” that allow employees to work remotely, thereby encouraging work-life balance.

5. Coldwell Banker Founded: 1906 HQ: Madison, NJ Rounding out our top five is (you guessed it!) real estate franchise Coldwell Banker.

Coldwell Banker is the oldest residential real estate franchise in North America, as it was founded by young entrepreneurs in 1906. Despite its 113-year history, the firm beats out many younger companies on our list when it comes to providing great work-life balance.

One Coldwell Banker employee loves waking up and being their own boss but says the company helps make the business end of the job so much easier. “They will train you the right way, and if you have the drive and spirit you will get the results you’re looking for,” the employee says, adding that the commission split is very generous.

A former employee liked how one can be as independent as they want to be at the firm.

Despite that, employees are also able to work in a team setting, and any help or support is available when needed. “It always felt like a family setting,” the employee said, adding that working at the firm “made me develop as a hard worker and a professional.”

…AND MORE!

TO ES s!

GO ite G ebs TIN w LIS 00 UR r 3 YO ove

Don't believe Keller Williams is a tech company? Think again The next round of platform wars will be won by the companies that nail the end-to-end consumer experience

BY B E R N I C E R O S S 5/8/19 12:34 A.M.

With more than 1,000 Inman posts, Bernice Ross is a long-time contributor whose weekly column on real estate trends, luxury, marketing and other best practices publishes every Monday.

When Gary Keller declared that his company was a technology company, most industry experts thought this was aspirational — they were utterly wrong.

Gary Keller | Credit: Keller Williams

In 2004, I was appointed the acting vice president of Keller Williams University where I reported directly to Gary Keller. During that time, I oversaw the creation of Camp 4-4-3, its new agent sales training program.

Keller is passionate about the changes that are taking place in terms of the platform revolution in technology. As a long-time Inman columnist who lives in Austin, Keller invited me to attend a meeting with his team leaders to share the work KW has been doing to transform its business into this new model and to share that model with Inman readers.

What he unveiled during this meeting was a sophisticated technology platform that will rival anything Zillow, Redfin or anyone else in our industry has built.

My biggest takeaway from this meeting was that the changes ahead will be so profound that how we transact today may soon be as antiquated as doing business before the internet.

The platform revolution I remember having a conversation with Alex Perriello, chairman emeritus of Realogy Franchise Group, where he described the challenge that real estate companies have versus technology companies in terms of their valuations.

Platform Revolution

At that time, I didn’t get why a company like Redfin, which had never made a profit, could be more valuable than Realogy.

If you want to understand why this is the case, read the book Platform Revolution: How Networked Markets Are Transforming the Economy – and How to Make Them Work for You by Geoffery Parker, Marshal Van Alstyne and Sangeet Paul Choudary. Keller has urged all his team leaders to read this book.

Platform Revolution describes the traditional system employed by most business models as a pipeline model. A pipeline business “employs a step-bystep arrangement for creating and transferring value, with producers at one end and consumers at the other.”

This is the case for virtually all real estate brokerages today. Sellers offer their houses for sale, brokerages take the listings and market them through the MLS, print and online marketing, and buyers show up to purchase. The authors call the pipeline business model a “linear value chain.”

A “platform,” in contrast, is: “A new business model that uses technology to connect people, organizations, and resources in an interactive ecosystem in which amazing amounts of value can be created and exchanged.

“Examples of disruptive platforms include Amazon, YouTube, eBay, Facebook, Twitter, Instagram, Pinterest and dozens more. Apple, Google, and Microsoft all run platform business models.”

Why are platform-based companies worth more than pipeline-based companies?

The authors go on to say, “Platforms eat pipelines,” as we have certainly seen in the case of Airbnb, Expedia, Uber, etc.

In the platform model, value is determined by the community that participates in the platform. This is why Zillow and Redfin have such high valuations in contrast to pipeline models such as Realogy and RE/MAX — it’s the number of people who participate on their platform that drives value, not the number of sales or the profitability as in the pipeline model.

The book goes on to say: “In the world of network effects, ecosystems of users are the new source of competitive advantage and market dominance.”

The bulk of the real estate industry is still running on a pipeline model. In fact, this is the very reason that Compass is missing the boat — it’s recruiting agents into a pipeline model.

Operating without a platform model: A Frankenstein nightmare for users Keller shared a spreadsheet one of his top team leaders had created to manage the numerous “bolt-on” technologies the agent uses to run his team.

Examples include accounting, Customer Relationship Management (CRM), lead generation platform, digital signature platform, transaction tracking platform, print and online marketing systems, video, etc. These systems are often incompatible.

The result is that users are stuck creating elaborate workarounds just to cope with this stitched together, hodgepodge of “bolt-on” services.

What Fast Company says On February 22, 2019, Fast Company named Keller Williams as one of its most innovative companies for 2019, placing it first in the Urban Development and Real Estate category.

David Lidsky, deputy editor of Fast Company, explained the reasons KW earned the top spot in this sector: “Established players are showing the same kind of nimbleness that we’ve generally associated with startups. Keller Williams is a prime example of this.

The brokerage – established in 1983 – saw no choice but to evolve, and to evolve quickly, in order to empower its agents to meet the consumer demands of today.”

“In February 2018, Keller Williams launched Kelle, an AI-powered virtual assistant, designed by real estate agents for real estate agents. The app gives KW agents a voice assistant that lets them quickly access neighborhood market reports, pulled from Keller’s own cloud-computing platform, which uses data from MLS and the social-networking site Nextdoor.

“They get an understanding of neighborhood boundaries, current listing data, and statistics on sale prices. Agents can filter by such details as square footage and when a home was built. The hyperlocal snapshots can also be shared with buyers and sellers. Keller made these Market Snaps widely available to its agents after incubating it in KW Labs, its innovation arm. Kelle also allows agents to manage referrals and check their progress against career goals.”

The key words to note in the Fast Company quote are “AI-powered virtual assistant” and “pulled from Keller’s own cloud-computing platform.”

Josh Team | Credit: Keller Williams

Keller began the transition to a platform-based model over four years ago with the hiring of Josh Team, who is now the president of KW.

Building an AI-based platform is a daunting effort. You not only have to build the technology — you must also allow a minimum of two years to train the AI. KW’s AI is now sophisticated enough that the company can roll out the key components of its platform including Kelle, its AI-powered virtual assistant, its CRM and other back-office functions.

In pursuit of the holy grail in real estate Many experts have described creating a seamless consumer experience from point of contact to well after closing as being the holy grail of real estate.

Team describes how KW has been working to this end for the last four years: “People think that we’re just talking about building Kelle, a CRM or a marketing platform, but what we’re really marching toward is a seamless transaction. This is why we have been building data alliances with companies like Google, Nextdoor, Porch and dozens of others.

“In addition, we’ve been building ancillary companies around mortgage, insurance, plus many others, so that everything works together creating one unified experience for the consumer.”

Couple this with the size of the platform that KW begins with (160,000 agents and their clients), detailed transaction history required for profit sharing that dates back to 1983 (a powerful data set from which to train its AI), plus the ability to drive 100 percent adoption because every transaction will ultimately

be conducted on its platform, and KW is well on the road to creating “user experience� akin to what consumers experience on Netflix or Amazon.

Who will win?

Today, the bottom line is not whether a company is a technology company, but whether it is doing business using a platform versus a pipeline model, the size of the community it creates, the strength of the data upon which its AI is built and to what degree the company can provide the most valuable experience to consumers.

Zillow, realtor.com and Redfin have built powerful consumer platforms. The next round this battle will be won by those companies that nail the end-to-end consumer experience.

Bernice Ross, President and CEO of BrokerageUP and RealEstateCoach.com, is a national speaker, author and trainer with over 1,000 published articles. Learn about her broker/manager training programs designed for women, by women, at BrokerageUp.com and her new agent sales training at RealEstateCoach.com/newagent.

Article image credited to Keller Williams, Harmen Jelle van Mourik and JR Kopra

TRAINING Stanford Closer Look Series How Important is Culture?: An Inside Look at Keller Williams Realty (2015)

How Important is Culture: A Second Look at Keller Williams Realty (2016)

KW Maps Coaching Training Magazine Keller Williams Realty’s View From the Top

Training Magazine Top 10 Hall of Fame

Career Growth Initiative

STANFORD CLOSER LOOK SERIES Topics, Issues, and Controversies in Corporate Governance and Leadership

How Important Is Culture?: An Inside Look at Keller Williams Realty

By David F. Larcker and Brian Tayan April 16, 2015

“When we talk with top agents and ask them what attracted them to Keller Williams, they mention our models and systems, they mention our training, they mention our technology, and they absolutely mention our culture.”

– Chris Heller, CEO introduction

Corporate leaders pay considerable attention to the strategy and finances of their organization but often less attention to organizational features that impact whether their strategy is successful, including the decision-making structure and the incentives, values, and culture that motivate individual employees to act in the interest of the firm.1 While a sound strategy and business model are fundamental to financial results, these elements must be implemented by people, and people have their own set of motivations, interests, and aspirations. The responsibility of the leader is to devise organizational systems that encourage individuals to pursue corporate goals, when the goals of the firm are not necessarily paramount in their minds.2 One commonly employed model is the “command-and-control” system. In a command-andcontrol system, leaders retain considerable power, decision making is centralized, and a series of rewards and punishment mechanisms ensure compliance. Many corporations rely on some variation of this approach.

An alternative to the command-and-control system is decentralization. In a decentralized system, the people closest to the market are responsible for decision making, and cultural mechanisms and financial incentives are put in place to encourage

the sharing of information and best practices to improve the quality of decisions, benefiting both the organization and individual employees.

Keller Williams Realty is an example of a company that takes a blended approach. While its franchising process is centrally controlled, the company willingly cedes significant decision-making authority to its associates and relies on culture to ensure that its operating model and people are successful.

Keller Williams

Keller Williams is the largest real estate franchise in the world with over 115,000 agents.3 Founded in a single office in Austin, Texas, in 1983, the company has grown to the top of its industry, surpassing well-known rivals including Century 21, Coldwell Banker, and RE/MAX. The company began expansion outside North America in 2012, and by early 2015 had offices in 10 regions around the world. By several relevant economic metrics—sales volume per office, sides per office, agents per office—the company’s performance exceeds that of every other major brokerage in the United States (see Exhibit 1).

Keller Williams has achieved these results by leveraging an economic model that delivers profits through economies of scale and a cultural model that relies on profit sharing, interdependence, and success through the efforts of others. economic model

The company’s economic model relies on low fixed costs and high commission volume to generate profitability at the market center (local office) level.4 A typical Keller Williams market center employs over 150 agents (compared to between 30 and 40 at key stanford closer look series

1

how important is culture?: an inside look at keller williams realty

competitors) and generates more than twice the sales volume. The franchise headquarters is careful to approve franchises with large territories to maximize profitability for the office and its agents. With fewer offices in a market, commission revenue is divided across a lower fixed-cost base, thereby increasing profitability. In 2014, 98 percent of Keller Williams market centers open at least a year were profitable.

The commission split is a hybrid of that offered by various competitors and is designed to share the benefits of production equitably between the market center and agents.5 A Keller Williams agent generally receives a 70/30 commission split from the first dollar of gross commission income (GCI) generated from the sale of a home. The agent splits commissions with the market center at this rate until reaching an annual cap. The cap is determined by the owner of the market center at the time the center is opened and typically ranges between $20,000 and $60,000, depending on the market. The agent retains all GCI in excess of the cap. The agent is also responsible for paying a small franchise fee to the international office each year.

Keller Williams is unique among real estate franchise companies in that it offers a second source of income—profit sharing—to its agents.

The formula for distributing profits is based on the productivity of other agents that the agent recruits to the company and the cash profits generated by their market center. It takes into account not only agents directly recruited (so-called “level one” profit sharing) but also agents that those agents recruit, extending up to seven degrees of separation, and is designed to reward the recruitment of highly productive agents. The international office calculates each agent’s profit share based on financial reports transmitted monthly by the market centers.6 In 2014, Keller Williams shared $98 million in profits with its agents (see Exhibit 2).

The combination of the Keller Williams economic model and profit sharing system results in an economic profile that is very different from competitive firms (see Exhibit 3). Agents retain a higher percentage of GCI (approximately 82 percent versus 66 percent). Market centers have a lower operating margin (5 percent versus 8 percent), and the

international office receives a lower effective royalty rate (3 percent versus 6 percent). However, because each market center tends to be much larger than those of competitors, the dollar amounts flowing to the owners of market centers and to the international office are higher. Less money is spent on expenses (7 percent versus 20 percent). The economic system is designed to be consistent with the company’s “win-win” philosophy.

Cultural Model

To the leaders of the company, Keller Williams’ culture is equal in importance to the economic model in accounting for the company’s success. According to former president and current board member Mary Tennant, “We know for a fact that our systems don’t work without our culture. We need our culture to reach our full potential.” According to Vice Chairman Mo Anderson, the culture is “the glue that holds it all together.” In the words of a former executive, “It’s very difficult to separate the culture and the systems, because the systems are written for the culture and the culture exists for the systems.”7 The company’s culture encourages interdependent relationships and achieving success through the efforts of others.8 It is encapsulated in the company’s belief system: WI4C2TS (pronounced “why four see two tees”): • • • • • • • • •

Win-win – or no deal Integrity – do the right thing Customers – always come first Commitment – in all things Communication – seek first to understand Creativity – ideas before results Teamwork – together everyone achieves more Trust – starts with honesty Success – results through people

The company maintains four cultural practices to ensure that agents, market center owners, and team leaders operate like real stakeholders in the company. First, the company shares its profits, as discussed above. Second, the company involves agents, owners, and team leaders in decision making. Third, the company maintains open financial books. Fourth, the company offers extensive training to agents and leaders. stanford closer look series

2

how important is culture?: an inside look at keller williams realty

Decision making.

The organizational structure of each market center encourages shared decision making among owners, leaders, and agents. The Keller Williams franchise agreement requires a separation between the ownership of a market center and its leadership. Market centers are owned by an operating principal (OP) but managed by a team leader whom the OP recruits. This structure gives the team leader accountability. It also means the OP and team leader have aligned incentives; whereas the OP is principally concerned with maximizing owner profits, the team leader makes money primarily through an operating profit bonus that depends on profitability. The OP recruits a core of top-performing agents to launch the office. These agents become the bedrock of the market center and help the team leader attract additional agents.

The team leader’s responsibility is to grow agent count, and the profit sharing system gives an additional incentive to do so.

The management of the market center is not the sole responsibility of the team leader, nor is it the joint responsibility of the OP and the team leader.

Keller Williams believes that agents are stakeholders in the success of the market center and therefore should share in decision making. As a result, the OP, team leader, and select agents (chosen among the top 20 percent measured by GCI) jointly serve on what is called the Agent Leadership Council (ALC). Together, they jointly make office decisions relating to financial planning, recruiting and retention, marketing and advertising, training, technology, social events, and philanthropic giving. The ALC structure has the following benefits: those with local knowledge and the greatest financial stake in the market center help make decisions; agents learn a business mentality with special attention to cost control; shared authority leads to better retention; and policies have greater validity throughout the market center because they have been set by peers. According to former CEO and current board member Mark Willis, “We empower our people to make decisions that they literally own and are accountable for, because they have been given a voice. They’ve been treated like partners and they’ve been respected.”9 In the words of a team leader, “We have a saying, ‘As the ALC goes, so goes

the market center.’ We’re an agent-driven company.

Any time we’ve gotten in trouble it is because we didn’t slow down, help to explain [our choices], and get everybody’s buy-in.”10

Bottom-up decision making extends to the executive leadership of the company. CEO Chris Heller and President John Davis both were successful agents, owners, and regional leaders for the company before assuming their current roles.

Open books.

In order for the profit share and ALC decision-making systems to maintain their integrity, Keller Williams operates an open books policy.

All agents in the market center have access to view detailed revenue and expense information for the entire market center to help increase the market center’s profit and profit share. Because the profit share formula does not change, agents can run calculations to make sure they are receiving the correct amount. Minutes of ALC meetings are also available for review. The open book system means that there are no secrets between the leaders of the market center and individual agents regarding financial or managerial decisions.11

Training.

Finally, the leaders of Keller Williams believe that if individuals are expected to play a role in the management and success of the company, the company has an obligation to provide education and training to help them reach their full potential. Keller Williams offers extensive training to agents, team leaders, and OPs through courses that document best practices for business building, leadership, and personal development. These include instructor-led classroom courses, instructor-led virtual sessions, and online self-paced modules. In 2014, 100,000 associates and affiliates completed classroom-based sessions, and 26,000 associates completed online self-paced study programs. Training magazine ranked Keller Williams number one on its 2015 list of the top 125 companies providing learning and development for employees, across all industries.12 The Keller Williams operating model results in an organization that is essentially agent led. All major initiatives are originated in the field, and agent initiatives are implemented in a market center only stanford closer look series

3

how important is culture?: an inside look at keller williams realty

with the buy-in of associates. For example, recent initiatives to boost market center profitability and agent count, charitable activities, the company’s expansion into specialty lines, and the adoption of new technology were all initially devised by individual associates before adoption by other market centers.

Furthermore, all Keller Williams’ training courses are created by and modeled on the successful activities of individual agents, team leaders, and owners. For example, BOLD, an agent coaching class designed to improve sales productivity, is based on the systems and business practices that KW MAPS Coaching CEO Dianna Kokoszka developed when she was an agent. Kokoszka now leads the course company-wide, and agents enrolled in BOLD average more transactions during the seven-week course (13) than a typical agent in the industry averages during a year (9).

Similarly, the Growth Initiative, a training and accountability program for local and regional leaders, was developed by John Davis when he was a regional director to improve the profitability of market centers in his area. The Growth Initiative was presented as an opt-in program and has now been embraced companywide. The company’s leadership attributes much of Keller Williams’ growth over the last four years to adoption of tools developed and refined through the Growth Initiative.

According to Bryon Ellington, chief learning officer of Keller Williams, “There is a level of cooperation between agents and offices that doesn’t exist at other companies. Our training, our systems, the profit share: it creates a virtuous cycle. And it all ties back to this culture of giving back, of sharing knowledge.”13 Why This Matters

1. Corporate leaders pay considerable attention to their strategy and business model but somewhat less attention to the culture of the organization.

How important is culture as a determinant of economic outcomes? Are there industries or settings where culture is more important and others where it is less important?

2. The leaders of Keller Williams believe that the company’s economic model would not succeed

without its culture and that its culture could not exist without its economic systems. Is this true?

Could a new culture be introduced without compromising economic results?

3. The Keller Williams operating model has several unique features, including scale economies, profit sharing, shared leadership, open financial books, and training. How important are each of these to the company’s success? Are some “more important” than others?

4. The Keller Williams belief system places considerable emphasis on specific values and individual behaviors. What impact do values and behaviors have on economic outcomes? How are values and behaviors within an organization influenced by “tone at the top”?

5. Some economists believe that culture is simply a reflection of the incentives (financial and nonfinancial) in place in an organization. Is this true?

Are culture and incentives the same, or is culture something more than “incentives”?  To this end, a 2013 survey found that boards of directors do not pay close attention to personnel-related issues such as mentoring and developing talent, listening skills, and conflict management when evaluating the performance of CEOs. See: The Miles Group and the Rock Center for Corporate Governance at Stanford University, “2013 CEO Performance Evaluation Survey,” (2013).

2 Economists refer to this problem as the “agency problem.”

3 For more on this topic, see: James N. Baron and Brian Tayan, “Keller Williams Realty (A),” Stanford GSB Case No. HR-29A (April 12, 2007); and James N. Baron, David F. Larcker, and Brian Tayan, “Keller Williams Realty (B),” Stanford GSB Case No. HR-29B (February 15, 2011).

4 The company refers to local offices or brokerages as “market centers,” the owners of market centers as “operating principals,” and the individuals who lead the market centers as “team leaders.”

5 Traditional brokers offer a 60/40 split. “Rent-a-desk” firms offer a 100 percent commission split and charge a fixed monthly expense.

6 Detailed monthly reporting also gives the international office access to better information about productivity and local market conditions than competitors have access to. Most real estate offices do not share detailed monthly profit and loss statements with their franchisor.

7 This line of thinking has roots in academic theory. According to Kreps (1990), an organization’s reputation is formed on the basis of how it responds to unforeseen contingencies. If an organization responds positively, it will improve its reputation in the eyes of employees (and potential employees); if it responds in a negative manner, it will detract from its reputation. Each positive action increases the amount of faith that an employee has in the organization and encourages performance that might not otherwise take place. An organization that wishes to protect a positive reputation will apply its principles “even when its application might not be optimal in the short run” and “even in areas where it serves no direct organizational objective if doing so helps preserve or clarify” its principles.

See: David M. Kreps, “Corporate Culture and Economic Theory,” 1

stanford closer look series

4

how important is culture?: an inside look at keller williams realty

Chapter 4 in James E. Alt and Kenneth A. Shepsle (Editors), Perspectives on Positive Political Economy (Cambridge University Press, 1990). Quotes from: Keller Williams Realty (A), loc. cit.

8 Keller Williams’ culture is also reflected in the charitable activity of its associates. The company’s charitable 501(c)(3) organization— KW Cares—helps associates and their family members enduring unexpected hardships including medical emergencies and natural disasters. For example, after Hurricane Katrina, KW Cares raised $5.3 million from Keller Williams offices nationwide to support more than 700 associates who were displaced by the catastrophe; by comparison, the National Association of REALTORS with more than 1.2 million members raised $5.8 million. KW Cares originated at the market center level before being adopted company-wide. The company also maintains a global day of service—RED Day (“Renew, Energize, and Donate”)—on which associates close their offices to volunteer in their local communities. In 2014, Keller Williams associates donated hundreds of thousands of hours of service.

9 Keller Williams Realty (A), loc. cit.

10 Interview with the authors.

11 For more on the organizational benefits of the open books system, see: Anne Claire Broughton and Jessica Thomas, “Embracing OpenBook Management to Fuel Employee Engagement and Corporate Sustainability,” UNC Kenan-Flagler Business School (2012).

12 Lorri Freifeld, “Keller Williams Is at Home at No. 1,” 2015 Training Top 125, Training (January/February 2015).

13 Interview with the authors.

David Larcker is Director of the Corporate Governance Research Initiative at the Stanford Graduate School of Business and senior faculty member at the Rock Center for Corporate Governance at Stanford University. Brian Tayan is a researcher with Stanford’s Corporate Governance Research Initiative. They are coauthors of the books A Real Look at Real World Corporate Governance and Corporate Governance Matters. The authors would like to thank Michelle E. Gutman for research assistance in the preparation of these materials.

The Stanford Closer Look Series is a collection of short case studies that explore topics, issues, and controversies in corporate governance and leadership. The Closer Look Series is published by the Corporate Governance Research Initiative at the Stanford Graduate School of Business and the Rock Center for Corporate Governance at Stanford University. For more information, visit: http:/www.gsb.stanford.edu/cgri-research.

Copyright © 2015 by the Board of Trustees of the Leland Stanford Junior University. All rights reserved.

stanford closer look series

5

how important is culture?: an inside look at keller williams realty

Exhibit 1 — Real Estate Brokerage Productivity Metrics (U.S.) Agents per office 2010 Keller Williams

2011

2012

Volume per office ($ in millions) 2013

2010

2011

2012

2013

117

125

140

165

144.4

172.3

228.0

299.8

Sotheby’s

31

32

37

37

93.0

90.4

132.4

161.4

RE/MAX

34

32

29

32

106.9

96.7

107.3

136.8

Prudential

46

44

38

33

85.2

80.6

74.9

73.0

Coldwell Banker

33

28

31

33

62.4

52.6

70.4

84.1

Century 21

37

30

34

37

56.2

42.7

60.9

73.4

ERA

38

32

36

45

48.8

44.4

54.7

76.2

Sides per office 2010

2011

2012

Sides per agent 2013

2010

2011

2012

2013

Keller Williams

689

859

1068

1245

5.9

6.9

7.7

7.5

RE/MAX

500

475

492

555

14.7

15.1

16.8

17.5

Coldwell Banker

332

291

369

414

10.1

10.3

11.8

12.6

ERA

300

260

311

368

7.9

8.2

8.6

8.3

Prudential

284

274

314

314

6.2

6.2

8.2

9.6

Century 21

272

209

290

302

7.3

6.9

8.5

8.1

Sotheby’s

121

158

211

243

3.9

4.9

5.8

6.5

Note: Sample includes select companies among the top 500 brokerage offices in the United States, based on number of sides. The term “sides” refers to transactions done by either the selling or buying agent. Because there are usually two agents on each real estate transaction, the industry reports approximately twice as many sides as home sales each year.

Source: REAL Trends 500 Survey

stanford closer look series

6

how important is culture?: an inside look at keller williams realty

Exhibit 2 — Keller williams performance metrics agent count

market center count 700

100,000

600

80,000

500

60,000

400 300

40,000 200 20,000

100 0

0 96 98 00 02 04 06 08 10 12 14

profit share

5,000

100

4,000

80 $ in millions

$ in millions

agent gross commission

96 98 00 02 04 06 08 10 12 14

3,000

2,000

1,000

60

40

20

0

0 96 98 00 02 04 06 08 10 12 14

96 98 00 02 04 06 08 10 12 14

Source: Keller Williams Realty

stanford closer look series

7

how important is culture?: an inside look at keller williams realty

Exhibit 3 — keller williams market center economic model Distribution of gross commission income

100%

5% Owners Profit 3% Profit Share 7% Expenses

80%

3% Royalties

8% Owners Profit 0% Profit Share 20% Expenses

6% Royalties

60%

82% Agent Commissions

66% Agent Commissions

40%

20%

0% Keller Williams

Top U.S. Companies

Note: Based on performance of top 25 percent of Keller Williams market centers versus top 500 real estate companies as reported by REAL Trends. Estimate royalties for top 500 real estate companies for those national companies that charge 6 percent on all GCI (may vary from office to office and company to company). Percentages reflect effective rates based on actual dollar amounts distributed.

Source: Keller Williams Realty

stanford closer look series

8

Stanford Closer LOOK series

how important is culture? a second look at keller williams realty

By David F. Larcker and Brian Tayan april 21, 2016 introduction

which emphasizes “win-win” solutions and success through

Keller Williams is the largest real estate franchise in the world,

the efforts of others.5 The belief system summarizes the values

with over 139,000 agents in 780 market centers globally. The

according to which organizational and customer-facing

company has enjoyed considerable growth since inception,

decisions are expected to be made.

with agent count doubling in the last four years alone. It is also

• Profit sharing. Almost half of the operating profits of each

highly profitable, with gross commission income and operating

market center are shared with individual agents in an elaborate

profit per market center largely exceeding those of its nearest

profit-sharing formula that takes into account the cash profits

competitors. The leaders of Keller Williams attribute the

of the market center and the productivity of the other agents

company’s success to the combination of an economic model built

that the agent has recruited to the company. This practice

on economies of scale and a cultural model that emphasizes profit

ensures that the financial success of the office is shared with

sharing, interdependence, and success through the efforts of

agents and that the incentives of owners and agents are aligned.

others. They believe the focus on culture helps resolve disputes by

• Shared leadership. All financial and operating decisions in

creating common expectations and provides a strong emotional

a market center are made jointly by the owner (operating

connection to the company, which encourages retention.1

principal), team leader, and select agents (chosen among the

Keller Williams, however, is not alone in identifying culture

top 20 percent measured by productivity) who together serve

as an important factor in its success. Many companies emphasize

jointly on the Associate Leadership Council (ALC). This

the quality of their culture. Still, the impact of culture on overall

practice ensures that agents have a voice in the decision-

performance remains an open question.2 To date, researchers

making process.

have not been able to agree on how or whether culture influences

• Open-books policy. All agents have access to view detailed

organizational outcomes, or the role that leadership plays in

revenue and expense information in the market center and the

establishing and promulgating culture.

minutes of ALC meetings. This practice ensures transparency.

• Training. Keller Williams offers extensive training to agents,

the culture of keller williams

team leaders, and operating principals through courses that

In 2015, we conducted a large-scale survey of Keller Williams

document best practices for business building, leadership,

team members to understand how associates of Keller Williams

and personal development. Extensive training reflects the

view the company’s culture and whether perceptions of culture

company’s commitment to help its associates reach their full

are associated with performance. Keller Williams lends itself

potential.

3

to analysis because of its unique organizational features that its leaders believe contribute directly to culture, and because the

Our survey found evidence of an exceptionally strong culture

company operates across independent market centers, which

with little variation across market centers.6 Associates of Keller

allows for observation of how variations in the perception of

Williams describe the company culture as ethical and one that

culture relate to variations in economic outcomes within the same

fosters collaboration. Ninety-two percent of respondents believe

company. The company’s prominent organizational features are

the word “ethical” very much describes the company’s culture.

summarized as follows:4

Eighty-nine percent believe that the company “will help me in a time of need.” The same percentage describes the company

• Belief system. The company’s culture is encapsulated in the

as having a “family-like culture,” while 87 percent believe very

belief system WI4C2TS (pronounced “why four see two tees”),

strongly that the company “does the right thing.” Less than one

Stanford Closer LOOK series

1

How Important Is Culture?

percent do not agree with these descriptions (see Exhibit 1).

leadership, and their place in the organization.

The survey also found that associates have a very positive

Still, it is difficult to measure in economic terms the

view of the company and its culture. Almost all (96 percent)

contribution that culture has made to Keller Williams’s growth

respondents agree or strongly agree that the culture of Keller

and profitability. This impact likely shows up in nonfinancial

Williams is unique among large real estate agencies; less than 1

measures that are hard to quantify but nevertheless translate

percent disagree. Ninety-six percent also agree or strongly agree

into future performance—such as recruiting engaged and loyal

that the company’s culture is very important in accounting for its

associates.8 To test this association, we measured whether market

success; only 1 percent disagree. Respondents cite the values of

centers that score favorably on cultural perception exhibit higher

integrity, teamwork, and “win-win” as most important to Keller

overall profitability and higher profits per agent than market

Williams’s success. Ninety-two percent believe that it is the best

centers that score unfavorably. We found no relation between

real estate agency to work for in their area. Ninety-one percent

these variables. However, given the consistently high favorability

are extremely likely to recommend the company as a workplace

ratings across market centers in our sample, it is not clear whether

to a close personal friend.

there is sufficient variability in perceptions to provide a reliable

The leaders of Keller Williams have stated that agents join the

measurement. It might be the case that the most important unit of

company for its training and education but stay for its culture.

analysis is how Keller Williams performs in each market relative

Survey data supports this claim. The top three reasons respondents

to competitors rather than how performance varies across market

claim to have originally joined the company include its educational

centers.

7

opportunities, culture, and compensation structure. Culture, however, is by far the most frequently cited reason why associates

Why This Matters

stay (see Exhibit 2).

1. Keller Williams is an example of a company with a clearly

Commentary and follow-up interviews with selected survey

defined culture that is widely understood and embraced by

participants underscore this point. According to an agent in a

its team members. It is also an example of a highly successful

market center in the Midwest, “The culture is what grabbed me.

company in terms of long-term growth and profitability. In

… It really is a vehicle to get to the person to help them achieve

general, how important is culture as a driver of economic

their dreams, achieve their success.” According to another from

outcomes? Does a company with a strong business model

the East Coast, “It is not only a great example of a real estate

perform better if it also has a strong culture?

operation, it is a shining example to all businesses that a symbiotic

2. A company with a strong culture is not a fit for everyone. A

do-the-right-thing culture that is followed from the top down

strong culture can lead to higher than average turnover and the

wins and wins big.” In the words of an agent from the West Coast,

loss of qualified associates who feel alienated by the company’s

“We are a company that is very proud of our culture. … People on

work practices. What is the cost of a strong culture? How can

the outside don’t understand who we are, and how we operate.

a company determine whether it has a healthy or excessive

… Once they see us from the inside, they completely get it.” (See

level of turnover? How does culture influence the employee

Exhibit 3.)

selection and hiring process?

We also find positive evidence that the company’s principles,

3. Keller Williams scores favorably among many positive cultural

including its profit-sharing model, open-books policy, system of

attributes, in particular having a family-like culture, willingness

shared leadership, and training and coaching are important both

to help in a time of need, and caring about the personal success

as reflections of the company’s culture and as contributors to the

of its associates. How important is it that associates feel their

company’s success. There is some evidence that leadership at the

company “cares” about them personally and professionally?

market-center level and company-wide are important contributors

Does this perception provide additional motivation to work at

to the company’s culture, although we did not explore this issue in

a higher standard?

sufficient detail to make a definitive assessment.

4. What role does leadership play in shaping culture? What

In summary, the evidence suggests that Keller Williams has

role does the average associate play? Which would do more

a clearly defined culture that is positively viewed and widely

damage to an organization: leaders who do not emphasize the

accepted by its associates. The company has succeeded in

company’s culture, or employees who do not embrace it?

embedding this culture into its organizational practices, and

5. If a company has an extremely strong culture, does it make

associates have a positive perception of the company’s culture, its

the company operationally or strategically inflexible? What

Stanford Closer LOOK series

2

How Important Is Culture?

happens when the competitive marketplace changes in a way that challenges the culture?  For more detail on the Keller Williams operating model and comparative

1

metrics, see David F. Larcker and Brian Tayan, “How Important Is Culture?: An Inside Look at Keller Williams Realty,” Stanford Closer Look Series (April 16, 2015).

2 Empirical evidence on the relation between culture and performance is mixed. Sørensen (2002) finds no association, while O’Reilly et al.

(2014) find a positive association. See Jesper B. Sørensen, “The Strength of Corporate Culture and the Reliability of Firm Performance,” Administrative Science Quarterly (2002). Charles A. O’Reilly III, David F. Caldwell, Jennifer A. Chatman, and Bernadette Doerr, “The Promise and Problems of Organizational Culture: CEO Personality, Culture, and Firm Performance,” Group & Organizational Management (2014).

3 This study was conducted for research purposes only at the request of the authors. Keller Williams did not commission, influence, or seek to influence any aspect of the study, including design, collection of data, analysis, presentation of results, or the information contained herein. Keller Williams did not provide financial assistance, nor did it compensate the authors or Stanford University for any part of this work.

The results of the study and this Closer Look represent entirely the work of the authors. Information provided by individual respondents has been kept strictly confidential, and no information has been shared with Keller Williams that would compromise the privacy of any participant in the study.

4 These features are discussed more fully in Larcker and Tayan, “How Important Is Culture?: An Inside Look at Keller Williams Realty.”

5 The elements of WI4C2TS include the following: Win-win—or no deal; Integrity—do the right thing; Customers—always come first; Commitment—in all things; Communication—seek first to understand; Creativity—ideas before results; Teamwork—together everyone achieves more; Trust—starts with honesty; Success—results through people.

6 The final sample includes 3,802 associates, team leaders, operating principals, coaches/trainers, and other administrators in 662 market centers in the United States and Canada. Forty-nine of the 50 United States are represented plus the District of Columbia, and five Canadian provinces. Respondents have been in the real estate industry for an average of 13 years (11 years median), and associates of Keller Williams for an average of 6 years (5 years median). A third of respondents (32 percent) are members of the Associate Leadership Council in their market center.

7 Measured as a score of 9 or 10 on a 10-point scale.

8 Keller Williams’s extremely positive net promoter score suggests that the company might have such an advantage. For more on nonfinancial performance indicators, see Christopher D. Ittner and David F. Larcker, “Coming Up Short on Nonfinancial Performance Measurement,” Harvard Business Review (November 2003).

Governance Matters. The authors would like to thank Keller Williams for the company’s cooperation in this study and Michelle E. Gutman for research assistance in the preparation of these materials.

The Stanford Closer Look Series is a collection of short case studies that explore topics, issues, and controversies in corporate governance and leadership. The Closer Look Series is published by the Corporate Governance Research Initiative at the Stanford Graduate School of Business and the Rock Center for Corporate Governance at Stanford University. For more information, visit: http:/www.gsb.stanford.edu/cgri-research.

Copyright © 2016 by the Board of Trustees of the Leland Stanford Junior University. All rights reserved.

David Larcker is Director of the Corporate Governance Research Initiative at the Stanford Graduate School of Business and senior faculty member at the Rock Center for Corporate Governance at Stanford University. Brian Tayan is a researcher with Stanford’s Corporate Governance Research Initiative. They are coauthors of the books A Real Look at Real World Corporate Governance and Corporate

Stanford Closer LOOK series

3

How Important Is Culture?

Exhibit 1 — descriptors of keller williams culture

To what extent do the following words or phrases accurately describe the culture of Keller Williams?

ETHICAL WILL HELP ME IN A TIME OF NEED FAMILY-LIKE CULTURE DOES THE RIGHT THING FAIR TEAM-ORIENTED CARES ABOUT MY PERSONAL SUCCESS RESULTS-ORIENTED OPEN TO NEW IDEAS PROCESS-ORIENTED FAST-PACED EFFICIENT FLEXIBLE TOLERANT BUREAUCRATIC CARES MORE ABOUT PROFIT THAN PEOPLE RIGID 0%

20%

40%

60%

80%

100%

VERY MUCH Note: As measured on three-point scale: very much, somewhat, not at all.

Source: Proprietary study conducted by the authors (October 2015).

Stanford Closer LOOK series

4

How Important Is Culture?

Exhibit 2 — top reasons to join and stay with keller williams

what are the reasons you... ... originally joined keller williams? (select all) EDUCATION CULTURE COMPENSATION (CAP STRUCTURE) THE BUSINESS MODEL GROWTH AND SUCCESS OF KELLER WILLIAMS 0%

20%

40%

60%

80%

40%

60%

80%

... have stayed at keller williams? (select all) CULTURE EDUCATION GROWTH AND SUCCESS OF KELLER WILLIAMS THE BUSINESS MODEL COMPENSATION (CAP STRUCTURE) 0%

20%

Note: Top five responses only.

Source: Proprietary study conducted by the authors (October 2015).

Stanford Closer LOOK series

5

How Important Is Culture?

Exhibit 3 — Perceptions of keller williams culture

on mission “We are very clear about the mission: to build careers worth having, businesses worth owning, and lives worth living.” – Leader, Southwestern region “Keller Williams is first and foremost a business and business-building organization. But the personal enrichment and the culture of personal development, caring, and giving are the most rewarding benefits.” – Leader, Northeastern region

On Culture “People often come to make more money or to save money, and then they stay for the culture. I stayed for the culture.” – Agent, Western region “We have attracted a lot of people who wanted to come to us just for the money, and you see them wash out when the market shifts. The people who remain are here for the values and the core beliefs.” – Leader, Northwestern region “We are a company that is very proud of our culture. … People on the outside don’t understand who we are, and how we operate. Once they see us from the inside, they completely get it.” – Agent, Western region “The culture is what grabbed me. … It really is a vehicle to get to the person to help them achieve their dreams, achieve their success, inspire them to wholeness and to a mindset of success, of helping and contributing to others. … The culture means that I can be in business in alignment with my values.” – Agent, Midwestern region “It is not only a great example of a real estate operation, it is a shining example to all businesses that a symbiotic do-the-right-thing culture that is followed from the top down wins and wins big. Creating a corporate structure that encourages mutually assured success for the ownership, leadership, workers, and clients leads to a truly amazing and sustaining result.” – Agent, Eastern region “[Outsiders] will say, ‘It is like you scripted everybody.’ There is that consistency. I think that to people who have values, our values matter. And I think that people who aspire to our values are attracted to our company.” – Leader, Northwestern region “Keller Williams is a different real estate company. It is certainly not a fit for everyone.” – Administrator, Midwestern region

On Values “There is no finer real estate company in the world, and I am blessed to be a part of a company that clearly states their values in the lobby of each office: ‘Family then business.’” – Agent, Southwestern region “I think the most powerful message that Keller Williams has for its agents, for a customer, is that we are always going to do what’s right, what makes their situation the right situation. We’re going to do what we can with integrity and honesty and commitment.” – Agent, Northeastern region

Stanford Closer LOOK series

6

How Important Is Culture?

Exhibit 3 — continued

“WI4C2TS is really a system of how we display our values and beliefs. … One of my challenges is to make sure our people really know what that is, not just if they pick it up and read it, but know it and can say it and understand it, and learn to live it every day.” – Leader, Southeastern region “I was at an event and someone from another Market Center stood up, not someone we knew, and said that someone in their office had been diagnosed with Stage IV cancer and was given only a few weeks to live. It wasn’t a matter of, ‘Let’s help them out with medical bills.’ It was a matter of her having things that she would like to do with her family before she dies, and she did not have the financial means to do them. She asked if anybody in the room could help out. Several thousands of dollars were raised. There was someone in need, and we wanted to help them. They are part of our family.” – Administrator, Western region

On Leadership “I can honestly say the leadership has changed my life, and I feel the leaders care about me and my family.” – Agent, Southwestern region “I always know that the people in our company have my best interest at heart.” – Agent, Southeastern region “I’ve been in the work force for 40-plus years, in three major professions. None has come close to seeing employees as vital to the corporate outcome as Keller Williams. … We at Keller Williams are here for them now and will be in the future.” – Agent, Eastern region “Agents are astounded when they join and find we have a real interest in them, not just their productivity. …

Newly joined agents who encounter a personal problem or illness are blown away by the fact that the office cares.

Food delivered to those who are ill, offers to help run their business until they are able to come back, etc. It just isn’t found elsewhere.” – Leader, Eastern region “If you’re going to have a profit-share system, there really needs to be transparency and say-so in the way things are done.” – Leader, Northeast region

On Training “I wouldn’t be where I am professionally or personally without the education, coaching, and mentoring my company has provided me.” – Agent, Western region “It is more than just real-estate skills acquisition. It’s about growing as individuals. The most powerful coaching and training events have nothing to do with real estate specifically. They are about mindset and big picture thinking.” – Administrator, Midwestern region “I developed the belief that the only difference between top performers and me was my mindset. The other critical point for me is something Gary Keller said. He said in order to be successful you need to succeed in all areas of your life. So if I am successful in my career and fail as a father or with my health, then I am not successful.

It is important to me that our leadership cares about our lives.” – Leader, Midwestern region Source: Proprietary study conducted by the authors (October 2015). Edited for clarity.

Stanford Closer LOOK series

7

Top-performing leaders and agents in KW MAPS Coaching sell 281% more homes than those not in coaching.

Go from where you are to where you intend to be.

The award-winning mastery program provides personalized one-on-one coaching, business planning and high-level accountability for agents pursuing personal evolution and committed to growing their business’s bottom line. » Receive an individual assessment of your business’s productivity and profitability » Propel your business forward with a personalized action plan and customized strategies for achieving your vision » Master running your business like a business » Learn the power of leverage and begin building out an effective team » Enjoy elite privileges and VIP access to KW events

Enroll at mapscoaching.kw.com/mastery

“The biggest surprise from coaching has been working on my thinking, which has helped me become a better leader. To be a great client you have to be open to possibility.”

Ashley Wilson, Raleigh, N.C.

TRAINING MAGAZINE RANKS 2017 TRAINING TOP 125 ORGANIZATIONS These are the organizations that excelled at employee training and development in the last year.

Posted: January 31, 2017

Article Author:

By Lorri Freifeld

Excelsior, MN (January 31, 2017) - Keller Williams Realty, Inc., was welcomed into the No. 1 spot on the 2017 Training Top 125 and earned induction into the Training Top 10 Hall of Fame in 2018 after ranking in the Top 10 for four consecutive years. Four companies landed Top 5 spots for the first time: New York Community Bancorp, Inc., at No. 2; Leading Real Estate Companies of the World at No. 3; BNSF Railway at No. 4; and Sonic Automotive, Inc., at No. 5.

Some 23 new companies broke into the Top 125 this year. The majority of the companies are in the finance/banking, health/medical services, insurance, business services, and hospitality industries. See the end of this article for the full list of winners.

Training magazine recognized the 2017 Training Top 125 winners with crystal awards and revealed their rankings during the Gala by the Sea held last night during the Training 2017 Conference & Expo at the San Diego Convention Center in San Diego, CA. The black-tie gala was sponsored by Brella Learning, CEB, Godiva, Pelucida, SAP, Seiko, the Training Top 10 Hall of Fame, and Turning Technologies. Seiko served as the official timekeeper of the event, and Pelucida provided the crystal awards.

Now in its 17th year, the Training Top 125 is the only report that ranks companies unsurpassed in harnessing human capital. Some overall statistics from the quantitative analysis of the winning 2017 Training Top 125 applications include:

•

The mean revenue was $7.9 billion U.S. and $7.7 billion worldwide. The mean training budget was $35.5 million, representing 4.53 percent of payroll. The mean amount of training cost savings was 12 percent.

•

The mean number of total employees trained per organization (including independent contractors and franchisees) was 34,815, with 25,160 trained in the classroom and 64,516 trained online. A mean of 641 courses were offered as instructor-led sessions; 3,853 were offered as online self-paced modules; and 215 were offered as virtual instructor-led classrooms. All of the 2017 Training Top 125ers have a technology infrastructure.

•

The average number of full-time and part-time trainers was 147 and 316, respectively.

•

Some 95 percent of Top 125 winners have a tuition reimbursement program. A mean of 11 percent of eligible employees made use of tuition reimbursement programs in the last year. Median spend on tuition reimbursement programs was $352,915.

•

Some 99 percent of winners use employee satisfaction surveys, while all use competency maps and personal/individual development plans. Some 76 percent tie managers’ compensation directly to the development of their direct reports.

•

On the evaluation side, 91 percent of applicants utilize Return on Value; 94 percent utilize Return on Investment; 82 percent utilize Balanced Scorecards; and 71 percent utilize Six Sigma. The Kirkpatrick Levels of Evaluation are more widely used: Level 1 (100 percent), Level 2 (99 percent), and Levels 3 and 4 (98 percent).

During the gala, Training inducted Jiffy Lube International, Inc.; CHG Healthcare Services; and Capital BlueCross into the Training Top 10 Hall of Fame after they ranked in the Top 10 of the Training Top 125 companies for four consecutive years. Two Top 125 winners—Keller Williams Realty, Inc., and Blue Cross Blue Shield of Michigan—met the criteria in 2017 and will be inducted into

the Hall of Fame in 2018. Members remain in the Top 10 Hall of Fame for a minimum of three years. After that, they can choose to remain in the Hall of Fame by adhering to specific guidelines or they can opt to reapply for Training Top 125 consideration.

In addition, yesterday afternoon, Training recognized innovative and successful learning and development programs and practices utilized by the Training Top 125 winners. Best Practice and Outstanding Training Initiative winners received crystal trophies during a ceremony on the Expo Stage. They were (in alphabetical order):

• • • • •

BEST PRACTICE AWARD WINNERS BB&T Corporation General Motors Sales, Service & Marketing Division Mastercard Nationwide Mutual Insurance Company Ricoh USA, Inc.

• • • • •

OUTSTANDING TRAINING INITIATIVES ADP, LLC Best Buy BNSF Railway Pacific Gas & Electric Company Paychex, Inc.

“The 2017 Training Top 125 winners are beacons of light for the training industry,” notes Lorri Freifeld, editor-in-chief of Training magazine. “We salute their unwavering dedication to employee training and development and their passionate belief in continuous learning. We hope they will continue to ride the wave of their training success and expand their learning and development horizons!”

The Top 125 ranking is determined by assessing a range of qualitative and quantitative factors, including financial investment in employee development, the scope of development programs, and how closely such development efforts are linked to business goals and objectives.

Companies that wish to be considered for Top 125 ranking complete a detailed application, which is scored both quantitatively (70 percent of total score) by an outside research and statistical data company and qualitatively (30 percent of

total score) by Training magazine editors and Top 10 Hall of Fame representatives.

For a profile of each of the Top 5 companies on the Training Top 125, additional information about the training efforts of all 125 companies, details on the programs receiving Best Practice and Outstanding Training Initiative awards, and the Hall of Fame inductees, see the January/February 2017 issue. The digital edition can be found online at http://www.trainingmag.com.

About Training magazine Training is a 53-year-old professional development magazine written for training, Human Resources, and business management professionals in all industries that advocate training and workforce development as a business tool. Training also produces world-class conferences, expositions, and digital products that focus on job-related, employer-sponsored training and education in the working world. Training is published by Lakewood Media Group.

2017 TRAINING TOP 125 WINNERS 1.

2.

3.

4.

5.

6.

7.

8.

9.

10.

11.

12.

13.

Keller Williams Realty, Inc. New York Community Bancorp, Inc. Leading Real Estate Companies of the World BNSF Railway Sonic Automotive, Inc. Best Buy Blue Cross Blue Shield of Michigan Dollar General Corporation Wequassett Resort and Golf Club Nationwide Mutual Insurance Company WellSpan Health Tata Consultancy Services ABF Freight

14.

15.

16.

17.

18.

19.

20.

21.

22.

23.

24.

25.

26.

27.

Pacific Gas & Electric Company Ascend Federal Credit Union MasTec - Utility Services Group Western Union Company OptumRx ESL Federal Credit Union Paychex, Inc. Birmingham Water Works Board First Horizon National Corporation Janssen: Pharmaceutical Companies for Johnson & Johnson Gables Residential ADP, LLC DPR Construction New York Life Insurance Company

28. Buckman Laboratories International, Inc. 29. Edward Jones 30. Northwestern Mutual 31. DaVita, Inc. 32. Genentech, Inc. 33. Aon plc 34. Haskell 35. Anthem Inc. 36. Allianz Life Insurance Company of North America 37. Ferguson Enterprises, Inc. 38. PAREXEL INTERNATIONAL LLC 39. Gilbane Building Company 40. Crown Resorts Australia 41. Iron Mountain 42. PPD 43. Vistage Worldwide 44. United Shore Financial Services 45. Valvoline Instant Oil Change 46. SinglePoint Inc. 47. Carilion Clinic 48. Hagerty Insurance 49. Vi 50. Miami Children’s Health System 51. Mastercard 52. Enterprise Holdings 53. SpawGlass 54. Aetna Inc. 55. Blue Cross & Blue Shield of North Carolina 56. FORUM Credit Union 57. G4S Secure Solutions (USA) Inc. 58. One Nevada Credit Union 59. Ricoh USA, Inc.

60. VSP Global 61. BKD, LLP 62. General Motors Sales, Service & Marketing Division 63. Sacramento Municipal Utility District (SMUD) 64. CarMax, Inc. 65. Navient 66. Mohawk Industries, Inc. 67. Bass & Associates, P.C. 68. TD 69. Avanade, Inc. 70. BB&T Corporation 71. Tandus Centiva, A Tarkett Company 72. Florida Blue 73. Afni 74. Bankers Life 75. Shaw Industries, Inc. 76. Paycor 77. United Services Automobile Association (USAA) 78. TIAA 79. Quicken Loans, Inc. 80. AT&T Inc. 81. U.S. Security Associates, Inc. 82. MTM, Inc. 83. ConServe 84. Johns Hopkins Community Physicians 85. AMN Healthcare 86. CVS Health 87. Dominion Enterprises 88. University of New Mexico Hospitals 89. Norton Healthcare 90. Penn Station, Inc. 91. Choice Hotels International

92. Cartus 93. Office of the Comptroller of the Currency 94. Empire Wealth Strategies 95. Navy Federal Credit Union 96. BayCare Health System 97. Bright Horizons Family Solutions 98. Eaton 99. Bell and Howell 100. Special Response Corporation 101. Specialist Staffing Group 102. Mariner Finance, LLC 103. Rent-A-Center 104. La Quinta Holdings Inc. 105. Federal Deposit Insurance Corporation 106. Van Meter, Inc. 107. Microchip Technology Inc. 108. Sitel 109. National Commercial Bank Jamaica Limited

110. Holman Automotive Group, Inc. 111. Health Decisions, CRO+ 112. Red Roof Inn Inc. 113. U.S. Postal Service 114. Signature Consultants 115. American Fidelity 116. Miami Cerebral Palsy Residential Services, Inc. 117. NYC Health + Hospitals Corporation 118. PPL Electric Utilities 119. Total Quality Logistics 120. Scottrade Inc. 121. Guckenheimer 122. NIIT 123. Workiva Inc. 124. The Guardian Life Insurance Company of America 125. Persistent Systems Ltd

N

o companies were eligible to be inducted into the Training Top 10 Hall of Fame in 2019.

However, next year, Leading Real Estate Companies of the World will join the ranks of the current 16 companies named to the hall since its inception in 2008. These 16 companies held top 10

BLUE CROSS BLUE SHIELD OF MICHIGAN: No. 7 in 2017, No. 5 in 2016 and 2015, No. 9 In 2014. Representative: Laura Byars, Vice President, Human Performance, Blue Cross Blue Shield of Michigan

JIFFY LUBE INTERNATIONAL, INC.: No. 1 in 2016 and 2014, No. 2 in 2015 and 2013. Representative: Jessie Cutler, Manager, Learning and Development, Jiffy Lube International, Inc.

BOOZ ALLEN HAMILTON: No. 9 in 2007, No. 1 in 2006, No. 2 in 2005, No. 4 in 2004, No. 6 in 2003. Representative: Tina Claure, Senior Learning Strategist, Booz Allen Hamilton

KELLER WILLIAMS REALTY, INC.: No. 1 in 2017 and 2015, No. 2 in 2016 and 2014. Representative: Stacia Thompson, Director, Keller Williams University

CAPITAL BLUECROSS: No. 4 in 2016, No. 3 in 2015, No. 3 in 2014, No. 10 in 2013.

Representative: Steve Krupinski, Senior Vice President, Human Resources and Facilities, Capital BlueCross

KLA CORPORATION: No. 9 in 2006, No. 5 in 2005, 2004, and 2003. Representative: Glenn Hughes, Senior Director, Learning and Development, KLA Corporation

CHG HEALTHCARE: No. 3 in 2016, No. 4 in 2015, No. 4 in 2014, No. 5 in 2013.

Representative: M. Quin Harward, Manager, Learning & Development, Talent Management, CHG Healthcare

KPMG LLP: No. 5 in 2010, No. 2 in 2009, No. 5 in 2008, No. 7 in 2007. Representative: Corey Muñoz, Ph.D., Chief Learning Officer, KPMG Business School – U.S.

DELOITTE LLP: No. 6 in 2004 and 2005, No. 8 in 2003, No. 9 in 2002. Representative: Nicole Roy-Tobin, Managing Director, Talent Development Strategy & Innovation, Deloitte Services LP ERNST & YOUNG: No. 6 in 2007, No. 3 in 2006, No. 7 in 2005, No. 8 in 2004, No. 7 in 2003.

Representative: Tal Goldhamer, Chief Learning Officer - Americas, Ernst & Young

88

|

spots in the Training Top 50, Top 100, and now Top 125 rankings for four consecutive years. Members remain in the Top 10 Hall of Fame for a minimum of three years. They can choose to remain in the Hall of Fame by adhering to specific guidelines or they can opt to reapply for Training Top 125 consideration.

MCCARTHY BUILDING COMPANIES, INC.: No. 7 in 2015, No. 6 in 2014 and 2013, No. 10 in 2012. Representative: Robin Renschen, Director, Learning and Development, McCarthy Building Cos., Inc. PRICEWATERHOUSECOOPERS: No. 1 in 2010, 2009, and 2008; No. 2 in 2007. Representative: Katrina Salem, Chief Learning Officer, PricewaterhouseCoopers

FARMERS INSURANCE: No. 4 in 2013, No. 2 in 2012, No. 1 in 2011, No. 6 in 2010.

Representative: Rae Tanner, Head of Learning & Development, University of Farmers

SCC SOFT COMPUTER: No. 4 in 2011, No. 9 in 2010, No. 3 in 2009, No. 8 in 2008. Representative: Myra Pettis, Director, Educational Service, SCC Soft Computer

IBM: No. 2 in 2006, No. 1 in 2005 and 2004, No. 2 in 2003. Representative: Gordon Fuller, Global Design & Development Leader, IBM Center for Advanced Learning

VERIZON: No. 1 in 2013 and 2012; No. 3 in 2011, No. 4 in 2010. Representative: Lou Tedrick, Vice President, Global Learning & Development, Verizon

MARCH/APRIL 2019 training

www.trainingmag.com

FUND THE LIFE YOU ENVISION

Designed to provide you an unprecedented view into your business, the Career Growth Initiative (CGI) helps you determine EXACTLY

for Yourself and Your Family

what needs to be accomplished in order to achieve all-new levels of PRODUCTION and PROFITABILITY.

“This [the CGI Calculator] gives us a very easy snapshot, where you plug in your goals and it tells you what needs to be done. It’s another tool to allow us to run this as a business.”

Thomas Bassler San Antonio, Texas

“These tools are actually timesavers. They save me time because they centralize all the numbers I was already tracking and help me be more accountable.”

Alex Fenske Orland Park, Ill.

“It’s a phenomenal tool for any agent. I track my goals, my team tracks theirs and we have a conversation on a weekly basis.

We look at the reality.”

Ken Wimberly KW Commercial Fort Worth, Texas

“Real estate is a lag business. We can look back at the listing numbers and adjust it. If I’m not hitting income, I go back to my activities.”

Jay White Charlotte, N.C.

“Know your numbers, know your business.”

Gary Keller KW Co-founder and Chairman Austin, Texas

SPEAK A COMMON LANGUAGE The CGI creates an environment where the common language among leaders and agents is productivity and taking more listing appointments is everyone’s top priority!

FOCUS ON THE NUMBERS When you have a predictable business, you’re much more likely to have a profitable business. The CGI centralizes the numbers that you should be tracking so that you can make informed decisions.

IMPLEMENT WITH EASE Use the CGI Calculator to determine your annual goals and learn exactly how many listing appointments you’ll need to achieve them. Then, get to work using the CGI’s suite of seven interconnected tools.

SHARE YOUR SUCCESS Show your clients and your sphere that you’re a leader in your market using your numbers and our templates.

KEEP LEARNING AND GROWING Our robust training and coaching programs help you achieve your business goals by focusing only on the proven activities that lead to results.

CGI Calculator

Ignite

BOLD

Learn more at kwconnect.com/page/cgi

Mastery Coaching

Mega Agent Expansion

THE FOUR CONVERSATIONS Pipeline Tool (Buyers/Sellers)

Listing Management Listings (Monthly)

1

2

3

4

Listing Appointments

Listings Taken

Closings (Listings/Buyers)

Profit

GCI

Agent Trend Tool Agent LORE Tool Local Expert

YOUR CGI TOOLS

Listing Management

Agent Trend

Listings (Monthly)

Pipeline

GCI

(Buyers/Sellers)

Agent LORE

Local Expert

WEALTH BUILDING Profit Share Explained Opportunity Map

Profit Share Explained $

$

NON-CAPPER Non-cappers pay in Company Dollar (CO$) to the Market Center through their commission split

The Market Center pays out for expenses such as sent, utilities & staff, among other things.

48%

PROFIT

The amount leftover after all expenses have been paid is Profit

This profit is split between the investors who took the risk in opening the business and the associates who have helped it grow

5%

ASSOCIATE PROFIT SHARE POOL

52%

5%

7.5%

10% 12%

10% ASSOCIATE’S SPONSOR’S SPONSOR 50% ASSOCIATE’S SPONSOR

KWRI then calculates how much of the profit share pool an associate contributed to (PS Pool / CO$ x Assoc. CO$)

ASSOCIATE PROFIT SHARE POOL

Opportunity Map Market Center Expansion

KWRI Regional Operating Partner

Mortgage Company

Title Company

Property Management

MAPS Coaching KW University

Leadership Mastery KWRI Regional Director

Market Center Operating Partner

Master Faculty Approved Faculty

Transformational

BOLD

Market Center Faculty

The ONE Thing

Market Center Team Leader

Agent Leadership Council

Market Center Productivity Coach

Market Center Investor

Title Co. Investors

Mortgage Co. Investors

Mega Agent Expansion Team

Mega Agent Team

Agent

Agent Profit Share