Keller Williams franchise returns to Springfield

A national player is returning to Springfield's real estate game, and it has attracted the top producing team at Carol Jones, Realtors.

Keller Williams of Greater Springfield is back in business less than a year after the franchise dissolved. Billy Long Keller Williams Realty merged with Murney Associates last summer.

A six-member ownership group, including broker Jeff Bonham and manager Don Klepper, is behind the franchise's return. With them are Rick and Pam Gardner, whose seven-agent team, the Home Gardners, closed $24.8 million last year, tops at Carol Jones.

Other owners are Ron Steffes, who was formerly with Keller Williams and most recently with Murney, and Janet Moyer, who served a brief stint at Carol Jones.

Also leaving Carol Jones are agents Karen Trimble and her partner Debra Lackey. The husband-and-wife team of Kevin and Deb Ledford, partners with Steffes at Murney, also signed on with Keller Williams.

Bonham estimates the 21 transferred agents, who have all joined in the last 30 days, represent $60 million worth of closings. His first-year goal is $140 million and 100 agents on board.

He's banking on $30 million out of the Home Gardners, $17 million from Trimble and Lackey and $8 million of production from the Steffes/Ledford team in the first year. As a Keller Williams broker, Bonham does not sell real estate.

The previous Keller Williams office did roughly $185 million with about 107 agents, according to Bonham.

"In a year and a half or two years, we should be where they were," Bonham said.

Bonham has ties with Keller Williams. He was an agent with the original franchise before venturing out with The Bonham Group brokerage three years ago. Klepper worked with him there.

"It's quite different from the old one," Bonham said, referring to the previous franchise owner, whom Bonham did not consider a good "cultural fit" with the franchise.

The new group is operating under the franchise license of the Lee's Summit office until legal documents arrive from Keller Williams headquarters in Austin, Texas, Bonham said. It has been operating that way since mid-March, he said. Keller Williams of Greater Springfield is temporarily stationed in the Executive Suites at 910 W. Battlefield Road. Bonham is negotiating on a 4,600-square-foot property in the medical mile area, where the firm will likely move when the franchise rights are confirmed, he said.

In the meantime, the agency is trying to recruit agents. Bonham expects to have 30 on board when the company moves into the new office.

The opportunity to become part owner of the franchise enticed Rick and Pam Gardner, who had been at Carol Jones for more than 16 years and completed 157 transactions last year.

"It was the business opportunity that lured me away from Carol," Rick Gardner said. "It allows me to be much more independent in my operation."

Gardner operates a Keller Williams branch office at 4151 N. State Highway NN in Ozark.

The loss of agents is not a big surprise to Jim Bolin, general manager for Carol Jones.

"It's a pretty fluid business," he said. "It's industry-wide. (Agents) transfer left and right."

In most cases, he said, it boils down to a financial decision.

"Keller Williams probably came in and made them an offer that they could not refuse," Bolin said. "I think you'll see more recruiting and transferring throughout the city."

Bonham hopes so; recruiting is a big part of the Keller Williams management philosophy. Through its profit-sharing program, the company rewards agents who recruit other agents, Bonham said.

"After three years, you become completely vested and can retire and receive profit sharing for the rest of your life whether you're with Keller Williams or not," Bonham said.

Profit sharing is based on the recruited agent's contribution to the business and the profitability of the entire office, Bonham said.

As for fees paid into Keller Williams, agents pay a 6 percent franchise fee capped at $3,000 a year to the national organization. Bonham said $18,000 is paid to the local office out of the first $2 million sold, but it's not a monthly desk fee. He said it is paid as commissions come in.

Bonham said agents receive 100 percent compensation on transactions exceeding $2 million annually.

"It's saving (Gardner) over $80,000 a year," Bonham said.

The ownership group paid $25,000 up front for Keller Williams royalties.