When Robin Haynes left Keller Williams after five years in the team leader role, she took a couple thousand dollars a year in profit share with her. It wasn’t much, she thought, but it was a good parting gift.
Time passed. She was managing a local office for Berkshire Hathaway when she connected with Marc King, team leader in Chesterfield, Missouri. He invited her back to Keller Williams. She was eager to return, and one of the factors was profit share. Even while she was managing working for a competing brokerage, she had continued to receive, like clockwork, her monthly checks from Keller Williams.
What Is Profit Share?
Profit share is an entirely unique system that treats associates as business partners in the company. Since its inception, Keller Williams has distributed over $1 BILLIONin profit share to associates.
The Keller Williams wealth-building platform is different – and revolutionary – for two reasons. First, agents and brokers became interdependent, sharing a mutual interest in success and working together to achieve financial goals. Second, although associates do not assume financial, legal or management responsibilities, they are rewarded for growth with a portion of the revenue, as if they were an owner.
When associates are part of the growth trajectory of any Keller Williams office, they can literally be rewarded with passive, potentially long-term income without putting up any capital.
“By rewarding the associates who help our company grow, we create more opportunities for them – and more opportunities for their families,” says President and CEO John Davis.
Build Your Wealth!
Now a popular agent and productivity coach, Haynes’ profit share has more than doubled in the two years she’s been back. For her and her husband Dan, the passive income is a boon. “Our pocketbook is looser now,” she explains. “The extra money is helping us invest back in our business to continue growing.”
She has her sights set on making $100,000 in profit share in the next five years. And, though she has nearly 300 people in the seven levels of her profit share tree, she regrets not seizing the opportunity to grow her downline sooner. She reminds herself, “Since I didn’t do it sooner, the next best time is today.”
To help YOU get there faster, Robin shares some key strategies and insights she’s learned about profit share:
Build relationships and expand your network.
Have a target list of 20 agents that you’d like to do business with. Preview properties, compliment a listing, ask a question, and show their properties again and again. Be a courteous agent and give them feedback on their properties so that they’re inclined to take your calls when you reach out.
After you’ve shown a property a few times, your name becomes familiar. After a little while, call the agent and tell them you noticed they are a strong listing agent. Invite them to attend a training session, like Win with Sellers, at your local market center. When it comes to relationship building, keep inviting the people you meet to events and classes. They may say no a lot, but they’ll appreciate the invitation. And, one day, they’ll say yes.
If you would like to grow a vast network like Haynes, begin by getting involved in your local Board of REALTORS®. Haynes recommends you take a step further and join a committee. She sits on the Women’s Council of REALTORS® herself. “Take advantage of your exposure in those places!” she exclaims.
Lean on your market center – your leadership is here to help you build wealth.
Unlike any other brokerage, Keller Williams has two roles in the market center focused solely on helping you build your wealth and grow your profit share tree: the team leader and the productivity coach. Our job is to make it easy for you to do your job, so you can get into higher production and grow your downline. In addition to constant training and education opportunities that help agents grow their businesses, we frequently offer wealth-building seminars that give agents a front row seat to the ins and outs of the profit share program.
Look to the future – you can’t be in production forever.
When you access profit share, you experience a compounding factor. Going by 2017’s numbers for three of us on the team, looking to retirement, I see nearly $300,000 per year. And that’s without doing another thing. When you think about the compounding power of passive income, you can’t help but share the opportunity with others. Not only is this for your future, it’s transferable to your kids and grand kids.
For helping an office grow, associates are rewarded with long-term, passive income that’s will able to future generations.
For over three decades – and several upturns and downturns in the market – associates have never missed a profit share check. Profit share has and will continue to stand resolute.
Haynes continues, “The way profit share is set up so that we all win together is genius. For a mere $25 annual KWRI administrative fee, agents in the profit share program are getting enormous returns – simply by sharing with their network just how much they love the company they’re with. The monthly profit share reports may take time to understand, but let your eyes jump down to the bottom line. That’s real money in your account.”