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Real Estate

Keller Williams reports 25.4% increase in Q3 volume

Agents closed $127.5 billion in the quarter

Keller Williams released its numbers for home searches, agents and transactions for the third quarter on Thursday, revealing that as of Sept. 30, Keller Williams agents in the U.S. and Canada closed 374,824 transactions, up 16% over Q3 2019. Agents closed $127.5 billion in sales volume, up 25.4% over Q3 2019 and up 49.47% over Q2 volume.

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

The privately held company is home to 161,885 agents in the U.S. and Canada, as well as an additional 11,442 agents operating around the world.

The earnings report said that there were 120.8 million home searches conducted across the KW app, and market center, and agent websites in Q3, down 0.9% from Q2.

“Our agents have positioned themselves to continue to grow and capture more market share,” said Gary Keller, executive chairman of KWx and co-founder of Keller Williams. “And, our commitment to work hard and innovate on their behalf has never been stronger.”

Early last month, Keller Williams reorganized and formed KWx, its new holdings company. Gary Keller stepped down, and Keller Williams President Josh Team has assumed all duties and responsibilities previously held by Keller. Carl Liebert was named CEO of KWx.

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

As for what’s next, Keller Williams’ Chief Economist Ruben Gonzalez told HousingWire that although 2020 has been a hard year to predict because of the COVID-19 pandemic, the brokerage is looking forward to a strong Q4 and a strong start to 2021.

“I think October is gonna be pretty good looking at the numbers I’ve seen,” Gonzalez said. “I expect that existing home sales probably grew year over year close to the pace they did last month, probably a little bit slower.”

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