Oklahoma City Market for February 2009

Oklahoma City Recognition

• The metro area’s average sales price for 2008 was $151,700, an
increase of 0.84% compared with 2007. Statewide, the average sales
price for the year was $149,482, an increase of 0.52% compared with
2007 (The Oklahoman, 02/21/2009)
• Oklahoma home builders are bracing for a rush of buyers now through
November 30 when the first time home buyer credit expires.
Oklahoma’s market, because it’s relatively strong, could respond to
the stimulus faster than areas where housing values have plummeted,
said Steven R. Plaisance, president of the Oklahoma Mortgage Bankers
Association and executive vice president of secondary marketing for
Arvest Mortgage Company in Tulsa. “Our affordable home prices and
the historically great mortgage rates make this a good deal for
Oklahomans,” he said. (www.NewsOK.com, 02/18/2009)
• Oklahoma State University’s School of Architecture has earned a
place among the top 20 in a nationwide survey of architectural
undergraduate programs. (The Oklahoman, 02/07/2009)
• Oklahoma’s two largest counties both had above-average employment
and wage growth in the second quarter of 2008. Among 334 large
counties in the U.S., Oklahoma County ranked ninth in rate wage
growth with an over-the-year increase of 6% to $777 a week. Wages in
Tulsa County rose 3.2% to $766, also above the 2.6% national
average. (www.NewsOK.com, 02/03/2009)
• Oklahoma City based Paycom, an online payroll processor, grew its
revenues 89% in 2008 despite a slumping economy. (The Oklahoman,
02/24/2009). Courtesy of Opubco.

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Keller Williams Realty surpasses Remax in 2008!

Keller Williams Realty Inc., announced last week at its annual convention in Orlando, Fla. that it is now the third-largest real estate franchise in the United States, surpassing RE/MAX® International. “The success of Keller Williams Realty can be directly attributed to the hard work and perseverance of our associates and the soundness of our economic and organizational models,” said Mark Willis, CEO of Keller Williams Realty, Inc. “While others might be looking at this market and seeing fear and uncertainty, we have always approached it as our opportunity to shine and grow. And that mindset has paid off.”

The company has been gaining ground for the last three years, outpacing pervasive downward trends in the real estate industry. From 2006 to 2008, Keller Williams Realty increased its associate count by 52 percent, market share for its offices increased 83 percent and agent gross commission income went up 35 percent. Currently, the company has 679 offices operating in the United States. The company also shared more than $30 million in profits with its associates in 2008 through its company-wide profit sharing program.

“Through profit share, our phenomenal coaching and training and our technology offerings, we are offering agents their own ‘bailout plan’ for this market,” Willis added.

The company also announced that after years of searching for a partnership to provide its associates with affordable health insurance, they are moving forward with a solution.

The soon-to-be-launched Keller Williams Health Providers Program will include options for major medical, limited medical, catastrophic coverage and a separate cancer plan. The health insurance coverage is the first step toward a total wellness program for associates.

“We have always been very aware that as independent contractors, our agents face barriers to obtaining health coverage,” said Mary Tennant, president and COO of Keller Williams Realty. “We know that for many, this new option may alleviate some of the stress that they face in today’s economy. After all, our associates are not just our partners – they are our family.”

Last fall, the company also announced the launch of KW Commercial, a new division of the company dedicated to providing commercial real estate associates with specialized technology, marketing tools and resources. KW Commercial already has more than 220 active brokers across the U.S. and Canada.

“Our growth in the last year and now becoming the third-largest real estate company in the United States was a true team effort and a company-wide win. We are so grateful for all of the leadership and commitment our associates have shown to power through this shift,” added Willis.

About Keller Williams Realty Inc.:

Founded in 1983, Keller Williams Realty Inc. is the third-largest real estate franchise operation in the United States, with more than 690 offices and 74,000 associates in the United States and Canada. The company, which began franchising in 1990, has an agent-centric culture that emphasizes access to leading-edge education and promotes an economic model that rewards associates as stakeholders and partners. For more information, visit Keller Williams Realty online at (www.kw.com).

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