The lawsuit filed in June, 2012 against Iowa Realty stems from a policy of Iowa Realty of not paying Commissions to Keller Williams Greater Des Moines when a Keller Williams agent sells a listing of Iowa Realty, and other claims.
To date the amount not paid to Keller Williams Greater Des Moines and their agents
exceeds $600,000. Iowa Realty pays $1 when a Keller Williams agent sells an Iowa
Realty listing owned by an individual consumer, despite collecting the full listing
commission. Iowa Realty adjusted their policy early on and now shares commissions on
new construction and foreclosure properties, but the policy continues to apply to
individual home sellers listed with Iowa Realty.
Keller Williams shares 50% of the listing commission with all cooperating brokers on
properties listed by Keller Williams Greater Des Moines.
“We are succeeding in the market place, and choosing to continue to focus our attention on our agents’ business and meeting the needs of our valuable clients,” said Kacy Bell,
Keller Williams Greater Des Moines launched in April 2012 with 28 agents, and has now
grown to nearly 100 agents servicing the Des Moines area. In July 2013, the month over month comparisons reflect Keller Williams Greater Des Moines outpaced the MLS average by +47% in listings sold and +44% in closed units. KW’s average days on market for a
listing sold for July was 10 clays faster than the average in MLS.
“We still believe the policy by Iowa Realty is not in the best interest of the home sellers
listed with Iowa Realty. We, however, intend to continue to do the right thing for the
buyers we represent and show all properties that meet our buyers needs, regardless of
such commission practices” says Kacy.
Kacy Bell, Operating Principal for Keller Williams Greater Moines has contacted Iowa
Realty leadership to discuss how the two companies can work together in the future and
is awaiting a replay.
“We take our ethical commitment to the consumer seriously. We believe customers
should always come first, operating with integrity and doing the right thing, are guiding
principles for our team. We also believe these values are important to the consumer,” said Brian Wentz, Team Leader and CEO. “Providing the best service to the consumers of
Iowa is our top priority and we look forward to a successful and long lasting presence in the Des Moines real estate community.”
Keller Williams has a culture of treating its agents as stake holders in the company, by
sharing in the decision making and a belief that a great company is built by building
great agents, one at a time. Keller Williams offers substantial training and career
development to guide agents in running successful businesses in the real estate
Keller Williams Mission Statement is: “A career worth having, a business worth owning, and a life worth living”.