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Keller Williams Axes Profit Share for Defectors
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Rebels with a loss
People who have decided to play the field and signed up with a competitor are no longer ‘In-crowd’. The executives at Keller Williams have thrown some serious shade their way by slashing their profit share earnings from a healthy 100 percent to a meager 5 percent.
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BiG surprise
Most of these agents were taken unawares at the bold move by the real estate giant. To them, it was like getting a surprise office party, but instead of a cake and balloons, they’re handed a deflated rubber ducky.
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A possible retaliation
Many insiders claim this move is a direct response to the chunk of KW agents who decided to munch up the competition’s offer. It’s like they tried to eat their cake and have it too, but ended up only left with crumbs.
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Tightening the Belt
Keller Williams have decided to tighten the purse strings, asserting the change is purely a business decision. They seem to be saying, “No mooching of our profits if you’re bedding with the competition. Thank you very much!”
And now for my hot take…
Hot Take
The air is surely heavy over at Keller Williams, probably thicker than your grandma’s mystery casserole. It had to be a tough call to make, but then when millions are at stake, I guess sentimentality takes a back seat. You can almost see the corporate giant pulling off a stern teacher move, pointing at the miscreants and announcing, “You can’t have your cake and eat it too.”
But let’s not forget, this isn’t a playground squabble over who gets the bigger slice of the pie but rather a reality of the corporate world. When you’re eating caviar at one table, you can’t expect to have a vintage wine waiting for you at another. The sting of losing a chunk of your beloved profit might feel like a punch to the gut right now, but maybe this serves as a lesson for those agents playing double agents.
As they say in the corporate world, “All’s fair in love, war, and the game of profits”. You can either hop around like a naughty tween and get your lunch money drastically cut, or keep your loyalty badge shiny to rake in the big bucks. Tough love, tough luck, and hopefully, tougher lesson learned.
And while we all collectively sob into our metaphorical money handkerchiefs, Keller Williams seems to be oh-so-firmly stating, “Our pie, our slice!” They might have lost a few agents, but they ain’t risking losing a few more pennies. After all, a penny saved is a penny earned. Let’s just hope that this bold move isn’t a case of penny wise, pound foolish for Keller Williams.
Original article: https://www.inman.com/2023/12/07/kw-begins-notifying-former-agents-of-profit-sharing-cuts/
