Keller Williams buys ProRealty with eye toward AMD arrival - Birmingham Business Journal:

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The real estate agency has mergedr with inSaratoga Springs, boosting its rostert of agents in the Spa City to 75, with expectation of hitting 100 by Terms of the deal were not Separately, Keller Williams will soon move 100-plue agents out of its headquarterzs at and into more visible space near the SEFCU branchb on Route 9 in Latham. Managing Broker Marc Weiss said Keller Williams expects to close its firstg full year with morethan $75 million in sales and 400 units sold. “At this pointf we have over 300 listingsawith $70 million in inventory,” Weiss “It’s no longer ‘Keller who?
’” He said Kellerd Williams is the fastest-growing real estater agency in the area this year. The , whic tracks sales through the , doesn’tr release mid-year rankings, said James Ader, chiefg executive officer. “It’s very possible,” Ader “Keller Williams has been involved in a number of is aggressively looking for new agents and certainlyh has been building a presence for itselvf in theCapital Region.” The latest deal came about aftet the CEO and principal broket at ProRealty, Cecil Provost, met Weiss over the summer. Provost founded ProRealty four years ago and builyt the agency using a similar busineses model asKeller Williams.
ProRealtyy agents shared in companyrevenuw (Keller Williams has profit sharing) and had input in management decisions. The emphasis was also more on branding the individuap agents than onthe company. “Whejn this opportunity came along it was reallha no-brainer,” Provost said. Merging with Austin, Texas-basefd Keller Williams also gave ProRealty access to a referrapl networkof 80,000 other agents in the U.S. and more opportunitiexs to handlecorporate relocations. Given the growthb of the local high-tech sector and plans in place forthe $4.
6 billion computer-chip fabricatiobn plant in Malta, Provosft expects that end of the business to expand “I’m a recovering software engineer and saw what happenedr in Austin and Silicon Provost said. Janet Besheer, a nine-yearf real estate veteran who joined Keller Williamsin March, will serve as managingf broker of the Saratoga Springs office, located at 3 Maple Dell off Mariojn Avenue. “My role is really to get this market centerd cooking with hungry agents who areout there, workingh it,” Besheer said. “In this time when budgets are tighf you have the opportunity to creats the businessyou want. ...
There’s no one sitting around waiting for the phoneto ring.” The sluggisjh real estate market was good timing for the merger because Keller Williams emphasizes training at a time when weaker residentia agents are getting out of the Weiss said. Keller Williamss agents will be ready to take advantags of the market whenconditions improve. “Wd really teach our agents to go out therse and fish so that in any markeftthey won’t be hungry,” he said.