What is Keller Williams Mission Statement How it has Evolved

What is Keller Williams Mission Statement? (How it has evolved)

In Blog, Branding, Business, Career, Keller Williams, KW Worldwide, Why KW? by Robert Earl

Keller Williams, also known as Keller Williams Realty has become the world’s fastest-growing real estate company. Anyone in the real estate business world will admit that Keller Williams is one of the most successful companies in the world. Many wonder about the success of the company and how the company has reached such a height. 

Keller Williams has always been honest about its mission, and it is clear in its mission statement. The company has gathered like-minded agents to fulfill the mission. Both the company and the agents are working together to make the company and the career of the agents successful. 

So, you might ask, “What is Keller Williams Mission Statement?” In this article, I will talk about Keller Williams Mission Statement, and analyze each of their statements part by part with examples for better understanding. 

The History of Keller Williams and How It Has Evolved

The history of Keller Williams will show you how the company has become so successful and how it is different from other companies. Before that, you might want to know about the history of Keller Williams to see how the company has evolved. 

Keller Williams Realty was established in 1983. The founder Gary Keller and Joe Williams started their business in a small office in Austin with a few folded chairs and tables. They had very few agents working for them back then. Gary Keller used his experience as being an agent to direct the company. 

In two years of establishment, the company got over 70 agents and became Austin’s largest single office real estate company. It was also listed in the top ten real estate companies in the market overall. 

Unfortunately, the market crashed in 1986. Like many other real estate companies, Keller Williams also went through a lot of crises. The company lost many of its agents and came down to less than 40 agents from 70 agents. However, KW was still able to make profits with half of the agents gone.

The main problem started when new competitors came to the market and the company started to lose its top agents. It is then; Gary Keller and Joe Williams had to think about bringing a change in the company’s business policies. 

From the very beginning of his career, Gary Keller always believed that the agents are the main power source of a company. He also believes that the company should work for the agents. Only then a company can thrive in the market. 

With this vision in mind, the founders started to take interviews of their agents. The agents are free to say whatever they want and what they expect to achieve from the company. After that, the company used insights from the agents to rebuild it. 

Today, the company has reached this position because it has listened to its agents. It still has its main office in Austin, Texas. But now the company has more than 900 offices and more than 180,000 associates working with the company.

Many renowned publications like Forbes and Times have recognized the company many times as one of the best real estate companies in the world. The company is not successful just in terms of making a profit, but also in terms of keeping the associates satisfied. 

To add to its glory and success, the company has launched its own real estate app known as the KW app in early 2020. This app helps to create a network of agents and clients. Both agents and clients can connect to the huge information system of Keller Williams. 

With this app, clients can find their dream house, and agents can communicate with clients faster and easier than before. 

The MVVBPs of Keller Williams

Both the company and the agents have to work based on principles that must be followed at every cost. The company understands that without written rules and plans, it is impossible to succeed in this competitive world. This is why, based on the insights of the agents, Keller Williams has made a set of principles to run its business. 

Following these principles, Keller Williams has created a culture in the company. The agents of the company cannot just follow the rules for only business; they have to live by these rules and apply them every day.  

Keller Williams insists every agent and their teams follow the MVVBPs which stand for Mission, Vision, Values, Beliefs, and Perspective. These terms have made Keller Williams different from the other companies in real estate. 

Now, I will explain each of these terms so that you can understand the aim or mission of Keller Williams. 

Mission

First, the agents have to understand why the company is in the business. Every successful company has a mission. Similarly, Keller Williams Realty has a mission that the agents are following together with KW. As you will go through the mission statement of KW, you will also see how it is different and evolved from traditional real estate companies. 

The mission statement of Keller Williams has changed because the company has changed a lot and they have added more to its mission and vision. 

Now, the mission statement of Keller Williams is “To build careers worth having, businesses worth owning, lives worth living, experiences worth giving, and legacies worth leaving.”

So, what does this statement mean? If you analyze the statement phrase by phrase, you can fully understand what the aim of the company is.

The part “to build a career worth having” means to work in a job or business that inspires you to grow and provides you support. This support is not only financial but also positive motivations. The career you will have must be worth your time and hard work. 

In most of the traditional real estate companies, agents are not given full support to begin their careers. Moreover, the companies leave everything to the agent. The companies do not care about the building agents’ careers. On top of that, the companies keep pressuring the agents to share a huge amount of commission with them. 

At Keller Williams, the agents have this support. They are treated as business partners. The company provides training for new agents and equips them with technological tools for starting a business. The agents get the opportunity to build a career that brings them financial and social stability.

The second phrase, “Business worth owning” means your business has to be profitable. A career where you cannot make any profits is useless. In traditional real estate companies, agents have to work on a 50/50 commission rate or 60/50 rate. As a result, the agents have to struggle a lot to make a good amount of profit.  

At Keller Williams, agents can make that profit. The company has a commission structure of 70/30. The agents get 70% from the commission and give the other 30% to the company. This works best for the agents. 

Moreover, once the agent pays the cap money of a year, they enjoy 100% commission during the whole year. Agents even get a share from the company’s profit once they become sponsor agents. 

‘Lives worth living’ meansto live a life full of ambition and working with passion to fulfill those ambitions. If you work in a field where you have no interest, you will not succeed in your career or help the company to succeed. 

Keller Williams Realty is always open for passionate agents who are ambitious. The agents work under KW not only for building their own careers but also achieve the goals of the company. Moreover, the support and motivation they get from the company inspire them to do more and better in their career.

 The phrase ‘experiences worth giving’ refers to sharing experience with others in the company. Experienced agents can help and train new agents to begin their careers in the real estate business. At KW new agents are warmly welcomed by other agents. Many experienced agents are happy to monitor other agents.  

Finally, you see the phrase ‘legacies worth leaving’. When you work in a company for ages, the company treats you as a valuable partner. Similarly, at Keller Williams, there are agents who have worked with the company for ages and helped the company grow by bringing more agents. The company does not forget them. It shares its profit with the agents.

The KW has a system known as profit share. Through this system, the company gives the worthy agents a share of the company’s profit. The agents can get this profit every month. Moreover, if the agents name an heir to their profit share, their heirs will keep getting the profit share.

The phrase also has deep meaning for the KW. The company started in 1983 and went through a lot of changes. However, one thing that never changed about the company is its relationship with its agents. There have been changes in management or business strategy. But the company makes sure to hand over the values it has been following since the beginning to its newcomers.  

Vision

So, what is the vision of a company? A vision or vision statement of a company shows what a company wants to accomplish in a certain time frame. It also shows how a company might look into the future. A mission or set of values is created to fulfill that vision of a company and everyone in the company works together to achieve the vision. 

The vision of Keller Williams is what it believes the world would look like when it accomplishes its mission. The vision is “To be a real estate company of choice for agents and their customers.” 

Keller Williams emphasizes on the choices of agents and the customers. It shows how much the company cares and respects its agents and customers. The company has committed to developing itself by using technology that can gather insights from both agents and customers. KW listens to its associates to build a company where agents and clients have the power. 

Values

Now, let us talk about the values of Keller Williams Realty. The company values are what it believes in. It says, “God, Family and then Business.”

In the company, every agent is encouraged to treat each other as community members or family. So, the company makes sure its agents are satisfied first and then it thinks about making business.

The first step to treat the agents as family members is being honest. Keller Williams is open with its agents. It shares what is going on in the company and openly discusses the profits or losses it makes. So, a clear conscience is at the core of the company. 

The best part about Keller Williams is that it supports diversity. Agents come from different social backgrounds. They have different beliefs and cultures in their personal life. The company believes that this diversity makes the company even stronger. Therefore, it supports the agents and their individual beliefs and faiths.   

Beliefs

 Every successful company has its own set of rules or beliefs that the associates of the company must follow. This set of beliefs and maintaining them is actually what leads the company to success. 

The unique belief system of KW is called WI4C2TS. This term may look meaningless or gibberish, but once you know the meaning of it, you can see why Keller Williams has created so many successful real estate agents. 

Keller Williams Realty’s belief system actually elaborates on the mission statement of the company. If you break down the term, the elements mean win-win, integrity, customers, commitment, communication, creativity, teamwork, trust, and success.

Each of these terms has to be strictly followed by the company and the agents. In the company, the belief system unifies the agents and makes them work toward the same goal. 

However, to fully understand the belief system of Keller Williams you need to know the principles of the term WI4C2TS. Their principles are:

Win-Win: KW does not only think about making a profit for itself, but also thinks for everyone else involved in the company. If you do not make associates happy, they will not sincerely work for the company.

KW wants to make a profit but not without sharing. Similarly, the agents have to work for KW. So, it has to be a win-win situation for the company and the agents.  

Integrity: It is one of the core values and beliefs of KW. You have to be honest. The company has to be honest with its agents and the agents have to be honest with their customers. An agent has to remember that he is in the business of helping clients to buy and sell houses. The best way to do business is to have honest and open conversations with the other party. 

Customers: One of the Cs in the belief system refers to customers. The agents of Keller Williams must remember that they are not there to sell only properties and make money. They have to respect the people and the clients related to selling and buying properties. It is a business dealing with people and making happy customers. 

A happy customer will return to the company if they need to sell or buy more real estate properties or recommend the companies to other people. Therefore, KW puts a lot of importance on customer satisfaction.

Commitment: Commitment is very important for an agent. If he decides to build a career in real estate, he has to pledge himself to the company’s rules and policies. He also has to completely dedicate himself to the business. 

The agents have to make the mission and vision of the company their own. Moreover, he has to be committed to every client he comes across.

Communication: KW believes in communication. It understands that the world is big and people can be different from one another. The company brings in agents from different backgrounds and cultures to have diversity in the company. These agents learn from each other. 

As the agents learn and know how to communicate with people, they can understand the customers. Communication with clients can help to understand what they want from a real estate property. So, an agent can help them to find out their ideal houses for them.

Also, the company has a close communication system with its agents. Through communication, the agents and the company owners decide how to run the company or what changes they should make to bring more profits.    

Creativity: One of the reasons why Keller Williams is so successful is that the company evolves with time. It encourages its associates to think about innovative ideas that can change the company for the better. The company welcomes new ideas first and then thinks about the results.

KW is not afraid of trying new ideas. This is why the company’s technology department has been able to come up with new ideas like Command (an advanced management system) and the new KW app.

Trust: A company cannot go far without trust and honesty. This is why KW encourages trust and honesty in the company. If an agent is not trusted, worthy and honest, the customers do not feel assured to buy properties. So, agents have to incorporate these values in themselves. 

Teamwork: At KW, agents do not work alone. They can build up a team and work together to make their business successful. It becomes easier to reach a goal if people work together. This is why KW added teamwork as one of its core beliefs. 

Success: Your success in life often depends on the environment and the people around you. So, it is better to surround yourself with people who are successful and ambitious. Live in a place where you find motivation and support to fulfill your dreams.

This is exactly what Keller Williams Realty offers to its agents. The agents are welcomed to a place where he gets support and advice from experienced agents. The environment of KW inspires the agents to be better and more skilled so that they can become successful in their careers. So, KW believes success can bring more success. 

Perspective

What is the company’s perspective? Perspective is how a company sees its current position in the business world, the reality of the company and how it is operating.   

According to the statement of KW, their perspective is “A technology company that provides the real estate platform that our agents’ buyers and sellers prefer. Keller Williams thinks like a top producer, acts like a trainer-consultant, and focuses all its activities on service, productivity, and profitability.” 

Now, what do you understand about KW from this perspective? 

A Technology Company: By calling itself a technology company, KW is saying that the company is now based on technology. It has created a CRM system known as Command. 

This Artificially Intelligent system helps the agents and customers to connect. The agents get more access to KW’s database system. Thus, they get more control over the business.

To make things easier for both agents and clients, the company has also created a new KW app in 2020. In this app, customers can browse houses and find agents easily. The agents can communicate with clients from anywhere or anytime. 

Furthermore, users can see customer insights, comments, and local information about places where they want to buy property in this app. The whole process of searching for houses, buying, and selling can be done from this app. 

No other company in the real estate world has such technologies as KW. Therefore, calling itself a technology company is justified for KW. 

 A trainer -consulted company: In the perspective, KW mentions to be a trainer-consultant company. As you have read in this article before KW provides support like training and mentorship to its agents. You can be a new or an experienced agent, KW will always help you with the training and conciliation you need. 

The company insists on training its agents with the help of experienced agents. These experienced agents can share their experiences as working as agents in the real estate business with the new agents. Agents are encouraged to share their knowledge and skills to help each other in the company.

Again, there is a skill assessment system of KW for the agents in the company. Agents can take these assessment tests and find out their skills and experience. This system helps agents to make teams according to the member skills and ability.

Furthermore, the company agents work as consultants for the customers too. Customers take the agents’ support and they consult with their agents before buying or selling any property. It is also one of the responsibilities of the agents to find a suitable house for their clients. For this, they have to advise their clients if needed. 

So, like this, the company is currently working as a trainer-consulted for both agents and customers. 

Focusing on service, productivity, and profitability: The main focus of the company is providing quality service to its customers. The company is always trying to keep in communication with its customers. The customers are the top priority for any real estate business. 

By attracting customers and providing them great services, the company is increasing its productivity. The agents are also happy. As a result, they are more active and getting more clients for their agencies which represents KW. 

To boost its productivity, the company has opened many new offices all around the world. As you know currently the company has offices in more than 940 locations and the number of agents is 180,000. 

With productivity and hard work, the company is making more profits. Again, this profit is only for company owners. The profit is shared with the agents and the local community. The culture of the company is all about people and how to make the life of people around them happier and more comfortable. 

What is The Purpose Of A Mission Statement? 

The sole purpose of a company’s existence is fulfilling its mission statement. Keller Williams has set up all these values and belief systems to achieve its mission. For this, the agents need to believe and follow the same beliefs and ideals of the company. Thus, rules and principles are created. 

The company has a mission statement, but it does not mean that the company will stop working hard once it reaches its mission. As you can see, the company has added new statements like “Experiences worth giving and legacies worth leaving” in their new mission statement.

So, with time and necessity, the company changes its mission and vision so that it can keep moving forward. With the passage of time changes are required in the company from time to time. Consequently, Keller Williams also has to change its system of operation. 

Conclusion 

By now, you must have got an in-depth answer to “What is Keller Williams Mission Statement?” The company values its customers and agents. Therefore, they are always involved in every step of the company. So, if you think you have the same MVVBPs as Keller Williams, you should consider joining the company.