What is the cost for joining Keller Williams as a new agent? Everything you need to know!

Introduction

The cost for joining Keller Williams as a new agent may vary depending on the office location and the commission model. For individuals aspiring to become new real estate agents at Keller Williams Realty Partners, Inc., the average start-up costs include a pre-license class fee of $250. Depending on packages and course approvals, real estate school classes can cost anywhere from $600 to as much as $6,000. Keller Williams Real estate’s fees at Desk are not obligatory, and only a small percentage of agents opt to rent a desk within the office market center. On average, KW agents pay monthly fees ranging from $85 in the US to $139 in specific locations.

Keller Williams New Agent Costs

Cost Description	Amount
Start-up costs	$1,500
Monthly agent fees	$85
Franchise fee	Capped at $3,000
E&O fee	Around $60-80 per month
Training opportunities	New agents receive unique training

Please note that these costs are subject to change and can vary by office location and commission model.

Keller Williams startup fees in 2024

Key Details About Keller Williams Startup Fees and Costs for New Agents

• Initial/One-Time Fee: $200
• Monthly Fee: $68
• Commission Split: 64% to the agent, 36% to Keller Williams (30% to the local market center, 6% to KW corporate)
• Commission Cap: $18,000 per year (can vary by location, with some offices having caps up to $36,000)
• Pre-License Class Cost: Approximately $250 (varies by state)
• Additional Startup Costs: On average, new agents can expect to spend $1,000 to $1,500 on various startup expenses
• E&O Insurance: Typically included in the fees

Commission Split and Cap Structure:

• Before Cap: Agents keep 64% of their gross commission until reaching the annual cap (e.g., $18,000).
• Franchise Fee Cap: After reaching the $3,000 franchise fee cap, the split changes to 70/30.
• After Total Cap: Once the total cap is reached (both market center and franchise fees), agents keep 100% of their commissions for the remainder of their anniversary year.

Training Programs

Keller Williams is renowned for its extensive training programs, which are often cited as a justification for the fees and commission splits. New agents should consider the value of this training when evaluating the cost structure.

Note: Some of these costs can vary by location, as Keller Williams operates on a franchise model.

Keller Williams Commission Calculator

Is the Keller Williams commission split appropriate for you?

Whether the Keller Williams commission split is right for you depends on your individual goals, preferences, and business needs. If you value flexibility and a supportive community, KW offers a great fit to negotiate your split based on performance. However, it’s important to thoroughly research and compare different commission structures and brokerages to determine the best fit for your specific circumstances.

Here are some key points to help you decide if the Keller Williams commission split is appropriate for you:

• The commission split offered by Keller Williams is 70/30, with the agent receiving 70% of each transaction and the brokerage receiving 30% and the competitive commission split tries to increase agent earnings while lowering broker commissions.
• They operate on a franchise model, and agents have to give another 6% as part of the franchise fee. Desk fees vary based on location and technology, adding an additional cost for agents.
• Keller Williams offers agents a chance to maximize take-home pay and minimize broker commissions.
• The KW commission structure ensures that agents keep all additional earnings once they reach the commission cap.
• KW operates on an anniversary year, not a calendar year, ensuring agent retention.
• The KW training program is another factor for which Keller Williams has garnered such a huge name for itself in recent years.
• The KW commission structure is beneficial for new agents as they receive the same commission as all the other agents and are provided with training facilities.
• Keller Williams is a worldwide name and attracts top-producing agents.

Ultimately, it’s critical to balance the commission structure’s benefits and drawbacks to see if it suits your demands and those of your firm. When selecting a brokerage, take into account elements like training, assistance, costs, and commission splits.

Does Keller Williams pay for real estate classes?

• Keller Williams offers financial assistance for real estate classes to new agents through the Keller Successful Career Opportunities in Real Estate (KSCORE) initiative.
• KSCORE provides access to Kaplan Real Estate Education’s pre-licensing and continuing education courses at no cost to students.
• Additionally, KW Prep is a specially curated curriculum designed to set individuals up for success in their real estate career, available at no cost to students.
• Keller Williams also provides live and on-demand classes, coaching programs, and a platform for community building to help new agents improve their skills, develop their business, and achieve their goals.

What does Keller Williams offer new agents?

1. Ignite: a comprehensive new agent training program designed to help new agents hit the ground running.
2. KW MAPS Coaching: tailored coaching programs for agents and teams to master their market, develop skills, and achieve their goals.
3. Live and on-demand classes: an unprecedented number of award-winning live, local, and on-demand education opportunities to improve skills, uncover new streams of income, and unlock personal and professional potential.
4. KW Communities: a platform for like-minded individuals to connect, gain inspiration, learn new ideas, and receive support for their business growth.
5. KellerINK: Keller Williams Realty’s publishing arm that delivers world-class books written to provide readers with practical tools and instruction that turn inspiration into action.

Does Keller Williams pay salary?

Keller Williams does not pay a salary to its agents. Instead, agents earn commissions on the real estate transactions they complete. 

The estimated total pay for a real estate agent at Keller Williams is $171,553 per year, which represents the median, or midpoint, of the total pay range. However, this pay is not a salary but rather the commission earned by the agent.

See More: Top 15 Tips How To Buy A Home

Does Keller Williams provide leads?

Although Keller Williams does help its agents with lead creation, the level of assistance varies depending on the specific Market Centre and team. The business provides a variety of tools, materials, and training courses to assist agents in generating leads, including the Keller Williams Command platform, a thorough real estate CRM and marketing tool. It’s crucial to remember that agents are typically expected to generate their own leads through networking, marketing, and other business development initiatives. To ensure long-term success in the real estate profession, Keller Williams stresses the value of developing a strong personal brand and referral network.

Conclusion

In conclusion, if you are Considering joining Keller Williams, New agent costs vary by location. Keller Williams offers a supportive community, resources, and a commission system designed for financial success. The company values agents, fostering a supportive environment. The commission split’s suitability depends on goals and preferences. Research different brokerages for the best fit. Keller Williams’ split is attractive to those valuing flexibility, transparency, and higher earnings. With training and networking, agents can thrive under the Keller Williams model.

FAQs