RISMedia's Real Estate Magazine

SEP 2018

Real Estate magazine is the industry's leading source for real estate news and information since 1980. Published monthly by RISMedia, Real Estate magazine offers timely and relevant real estate news to the industry's top brokers and agents.

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100 September 2018 RISMedia's REAL ESTATE once we found our footing, we knew we were unstoppable. In 2014, we acquired the Arlington and Tysons offices, and it was the merging of the three agencies that created KW Metro Center Realty. BP: How many agents does the firm have today, and how would you char- acterize your positioning in your market? SM: We are among the leading resi- dential brokerages in our market- place, with 635 agents in our three offices closing nearly 3,000 trans- actions and $1.5 billion in 2017. And I'm pleased to report that we're trending toward a 14 percent increase this year, expecting to hit $1.7 billion in 2018. BP: What has been your approach to growth over the years, and what are your goals for expansion? SM: I am bullish on the market both short- and long-term, due to our hyper-local positioning and the ex- panding job market in our area. With the military, baseline business com- panies and the federal government right across the river in D.C.—which has never seen a housing decline— we have plenty of opportunity to grow. More recently, Facebook and Amazon have put Northern Virginia on their short list of locations to house their eastern expansion, cre- ating another frenzy of activity and pushing housing into the forefront of the conversation. We are current- ly launching another office, and we plan to acquire two more by the end of this year. BP: Given the current state of your markets, what are your greatest challenges and opportunities? SM: Our markets are very robust, as I explained, and I believe that trend will continue, given the low interest- rate environment. Job opportunity has our unemployment rate at 3.2 percent, where it's been hovering for some time. Our challenges have to do mostly with the inventory short- ages, given low construction rates for some years. Fortunately, we are seeing new construction pick up, which is timely since we are expe- riencing an explosion of millennials taking jobs in D.C. and migrating into the Arlington area. As a group, these young people are very savvy about the buying process, and they come well prepared financially, which makes our job as a consultant a bit easier in some respects. BP: What are you doing differently to set your firm and its agents apart from the competition? SM: For openers, I credit the Keller Williams brand, which currently leads the field in terms of closed volume, closed units and agent count, de- spite the fact that we do no advertis- ing. Our success comes largely from Keller Williams' agent-centric model and a training system that is sec- ond to none. We lead the industry in technology, pushing the limits by allocating $1 billion toward techno- logical advances, including artificial intelligence. Our goal is to equip our agents with the best in technology so they can stay focused on know- ing their local markets and being a full-service advocate for their clients. Also, at KW Metro Center, we offer mandatory productivity coaching, with dedicated multimillion-dollar agents mentoring new agents. It's a program designed to have high ac- countability mixed with real-world, real-time information. BP: What most aracts agents to your firm, and why do they stay? SM: Our world-class training and capped commission structure at- tracts them, but our culture is what keeps them loyal. We believe that be- ing the largest comes with a respon- sibility to raise the standards for pro- fessionalism. No one person, no one transaction, is worth the reputation of our firm—ever. We also believe we should take care of those in need within our company—a belief that is executed through our KW Cares pro- gram at the national level, and also in each of our offices at the local level. With the approval of our Agent Leadership Council, we can respond within hours to provide help to any of our agents and their families—as we did in a very massive way after Hur- ricane Katrina, when so many were "Our success comes largely from Keller Williams' agent-centric model and a training system that is second to none. We lead the industry in technology, pushing the limits by allocating $1 billion toward technological advances, including artificial intelligence. Our goal is to equip our agents with the best in technology so they can stay focused on knowing their local markets and being a full-service advocate for their clients." - SHANE MCCULLAR Principal Broker/CEO KW Metro Center Realty

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