Keller Williams Realty review: What it is and how it works

Buying or selling a home can be a bit overwhelming. If you decide to approach these life milestones the traditional way, it helps to work with a real estate agent you feel comfortable with, and who has relevant expertise in your local area. But there are a lot of different real estate agencies out there, particularly in major markets. How do you choose which one to work with?

Keller Williams Realty is a real estate brokerage with agents and locations in all 50 states and across the world. Thinking of working with a Keller Williams agent? Here’s a rundown of what to know about the company, and how it compares to some other major players in the industry.

What is Keller Williams Realty?

Keller Williams Realty was founded in 1983 by Gary Keller and Joe Williams; Keller still serves as Executive Chairman of the Board. The company has since become one of the largest real estate companies in the U.S., with more than 191,000 agents nationwide and locations all over the world. According to a recent study by Ruby Home, it’s the franchise brand with the highest transaction volume in the country, with a total volume of $440 billion in 2022.

How does Keller Williams Realty work?

Keller Williams Realty is primarily a real estate brokerage, helping clients buy and sell properties. But the company also offers mortgage loans and refinancing through Keller Home Loans, and helps users find home insurance through Keller Covered.

Its real estate agents work out of local franchise branches, or “market centers.” Like most agents, they earn a commission on the transactions they close. Keller Williams’ commission structure stipulates that 64 percent of the fee goes to the agent, 30 percent goes to the market center and 6 percent goes to Keller Williams Realty International.

It’s worth noting that Keller Williams was one of several large brokerages named in a major lawsuit about real estate commissions that is currently making its way through federal courts. They have since settled.

Selling your home with Keller Williams

When you hire a Keller Williams agent to sell your home, the process is similar to most traditional home sales. The agent will help you determine the home’s fair market value, based on the current conditions in your area and comparable properties that have recently sold, so that you can set a competitive listing price.

The typical process may include guiding you through the following steps:

• Preparing your house for showing
• Setting the asking price
• Listing the property
• Booking and managing showings
• Reviewing offers
• Drawing up the purchase contract
• Preparing the closing paperwork
• Closing the sale

Where does Keller Williams operate?

Keller Williams is headquartered in Austin, Texas, but it has locations throughout the entire United States. It also has many offices throughout the world, including Canada, South America, Europe, Saudi Arabia, Southern Africa, India and Japan.

Keller Williams alternatives

While Keller Williams is one of the biggest brokerages out there, there are many more. Here are a few other options to consider:

• Real: This brokerage offers cloud-based connection for its agents, rather than physical franchise locations. They also offer mortgages and refinancing for clients, as well as title and escrow services.
• Compass: Compass is another of the largest residential brokerages. While it’s headquartered in New York City, it has more than 300 offices in 72 markets across the country.
• eXp Realty: Another large, cloud-based real estate company, eXp Realty has nearly 90,000 agents spanning all 50 states, plus 23 more countries around the world.
• Redfin: Redfin is well-known as a listings and data platform, but it is primarily a discount brokerage — when you use their agents, you pay a lower commission rate than the traditional 2.5 to 3 percent.
• Opendoor: Opendoor is a different kind of alternative. This online iBuyer will give you a cash offer for your home after you fill out a few questions on their website. Their process lets you sell your house remarkably fast. But because the iBuying business model is to fix up properties and resell them for a profit, you will likely make less from this type of sale than you might with a traditional real estate agent.

Should you work with Keller Williams?

No matter which brokerage you choose to work with, it’s important to find the right real estate agent for your specific situation. If there is a Keller Williams agent in your area with the right local-market knowledge and expertise to help you, then there’s no reason not to work with them. But do your research: Interview several candidates to find someone who you trust and think you will work well with.

FAQs

• When was Keller Williams founded?

  Keller Williams Realty was founded in 1983 by Gary Keller and Joe Williams. The the company now has agents and branches throughout the world, and Keller still serves as Executive Chairman of the Board.
  

• Is Keller Williams a legitimate brokerage?

  Yes, Keller Williams is legit. The brokerage has franchises and agents throughout the United States and the world. It also operates Keller Home Loans, which offers mortgage loans and refinancing, and Keller Covered, which helps users find home insurance.
  

• Does the brokerage I work with impact the home selling or buying process?

  Individual brokerages may have slightly different ways of approaching the home selling and buying process. Agents working with different agencies may use different tools, follow different protocols or get paid with different commission structures. But in general, if you like your agent and feel like they are doing right by you, it shouldn’t matter which brokerage they are affiliated with.