Lunch & Learn: The State of Housing

As housing supply dwindles, affordability concerns grow while competition heats up the market. This Lunch & Learn will examine the current state of housing, featuring experts who have an eye on the market.

HousingWire Annual Virtual Summit

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How credit scores impact lenders’ pipelines in a purchase market

When a lender works with a borrower to improve their credit score, they are able to offer the most competitive rate and terms. Learn more here!

Volly’s Grant Moon on challenges facing veterans

In this episode of HousingNews, we are joined by Grant Moon who discusses the difficulties veterans face during the home-buying process and misconceptions about VA loans.

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KW President Marc King on Gary Keller, social unrest

The brokerage executive shares his thoughts on Keller Williams' competitors and work in a virtual, tumultuous world

HW+KW President Marc King
Marc King, president at KW

Is Keller Williams rising or falling — or has it settled into a role of venerable franchise network in a growing ecosystem of international brokerages?

The team’s executive leadership shifts give the appearance that change is afoot. Gary Keller, who founded the Austin, Texas-based company, stepped down last year as CEO. Holding company KWx was created, with Carl Liebert, someone outside the real estate industry, named as its CEO.

Then in February, Josh Team announced on Facebook he was out as company president, replaced by Marc King, the company’s then-director of growth.

King has spent over a decade at Keller Williams, including leading the company’s Branson, Missouri, operation. He speaks reverently of Keller as someone who is obsessed with real estate agents and who, when he dies, “Will have ‘Realtor’ carved on his tombstone.”

How to measure Keller Williams’ success is not always easy. The brokerage is bursting with agents — 173,000 in the U.S. and Canada at last count — and is a traditionally “high-volume, low-margin” enterprise, King said. Other brokerages of such reach — Realogy, RE/MAX, Compass this list goes on — are publicly traded with readily available profit and revenue numbers.

Keller Williams has resisted the initial public offering path. “When everybody runs in one direction, Gary runs in the other,” King said.

HousingWire spoke over the phone with King about what it’s like to work with Keller and leading a company in a time of acute social turmoil. Here’s an edited version of that conversation:

HousingWire: Did becoming president of Keller Williams necessitate a move to Austin?

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