KW reports modest growth in agent count, lower sales volume in 2022
The franchise is approaching 200,000 agents worldwide and reported gains in its global markets, as U.S. and Canada numbers dipped.
Keller Williams released its year-end results today, reporting an increase in agent count and global growth in 2022.
The franchise is approaching 200,000 agents worldwide, far surpassing any other franchise brand in agent count. KW reported ending the year with just over 174,000 agents in the U.S. and Canada, and close to 18,000 elsewhere for a global total of 191,877, a 2% increase over 2021.
"As a company, we are well-positioned as the place for entrepreneurs to thrive," said Gary Keller, executive chairman of KW.
While overall transactions and sales volume were down from 2021, the company's global arm, Keller Williams Worldwide (KWW) posted annual gains. KWW encompasses all markets outside the U.S. and Canada.
"Ten years since the launch of KWW, our continued rapid pace of multinational growth showcases how entrepreneurs globally are thriving at Keller Williams," said William E. Soteroff, president of KWW. "In 2022, our international agent count jumped more than 20 percent and we experienced double-digit percentage increases across most of our growth indicators."
Key numbers
Transactions: 1.1 million in 2022, down 17.5% year over year. KWW closed nearly 78,000 transactions, an increase of 22.5% from 2021.
Sales volume: $472.9 billion, down 11.1% from the previous year. KWW brought in $15.7 billion, up significantly — more than 29% — year over year.
Agent count: 191,877 globally, a 2% increase from 2021.
What KW had to say
The company focused on its growth relative to 2019, a year "which reflected a housing market not influenced by historically low mortgage rates and COVID-19 economic conditions," said Marc King, president of KW.
Comparing 2019 to 2022, the company reported a 9.2% increase in agent count and a 34.7% increase in sales volume.
"Looking ahead, we are pleased with our long-term growth path as our agent partners move to take additional market share through the market shift — as we have throughout our history," said King.
The company is also doubling down on supporting agent business growth in a market with fewer listings. "We're singularly focused on enabling our agents through training, coaching, masterminding, modeling, technology, and more to charge the storm and position their businesses to continue to grow over time, no matter the market," King said.
Notable moves
Keller Williams, like many real estate companies, reduced their workforce in 2022 with layoffs at their Austin headquarters and at Keller Mortgage, which was acquired in February by Mutual of Omaha.
In October, the company announced its expansion into Switzerland, representing its 16th European franchise.
KW capped off the year by rolling out an updated version of its agent app, Command, with improvements to the agent contact database and lead generation features. According to Chief Technology Officer Chris Cox, more than 120,000 KW agents use the app each month.