Quarterly earnings reports are trickling in, giving us an inside look at just how strong of a start brokerages and real estate companies are having in this new year. Despite a dip in overall transactions, Keller Williams posted big revenue gains in Q1.
According to its earnings report, Keller Williams agents closed $108.4 billion in sales volume, up 10.5 percent from Q1 of 2021. Agents closed 258,400 transactions last quarter, down 5.2 percent year-over-year, while also taking on 154,000 new listings, also down 5 percent over Q1 of 2021.
“The appreciation of home prices has resulted in agents’ commissions far outpacing the rate of inflation,” said Marc King, president, KW. “We’re continuing to lean into our world-class training, coaching and technology to ensure our agents are poised to face the headwinds of higher mortgage rates and ongoing housing supply constraints.”
Last quarter, KW added 1,523 net agents across the U.S. and worldwide regions.
“In Q1 ’22, we continued building and revamping our KW business communities and segments. We’re enabling our agents to focus on business growth through more connection, empowerment and impact,” said Sajag Patel, head of coaching, communities and learning, KW. “We expect to continue aggressively attracting agents across the full spectrum of their real estate careers. Our training and coaching are second to none, and continue to boost agent production, leveraging the best practices and lessons learned of our top real estate producers.”