Bartlesville Realtor Purchases Keller-williams Franchise

BARTLESVILLE (Sunday, September 07, 2008) - Local realtor Shelley Koster recently purchased a Keller Williams franchise and set up shop at 2114 S.E. Washington Blvd. in Bartlesville.

The new realty company adds another choice for realtors, buyers and sellers in a real estate market headed by local stalwarts Century 21, McAnaw, RE/MAX and Colonial Realtors.

"I was originally approached by Keller Williams to open a market center out of Owasso, but the more I learned about the company, I decided to pursue the franchise," said Koster.

She said after much research about other realty companies she weighed it out and decided Keller Williams would be the one she would want as an associate.

Many companies use a traditional approach in operating the business. In a dependent model, the agent depends upon the broker for leads and commission. An independent agent works solo with little support from the broker, but keeps more of the commission.

According to Koster, the Keller Williams company uses an interdependent business model that supports the agents and brokers in a team atmosphere.

"It's a proven system that works," said Koster. "Everyone shares. I don't know of any other company in the area that shares profits."

Koster said all the associates are true business partners and have a say in how the company is operated.

"The associates all learn the numbers and how to market themselves. If they left tomorrow, each would still have a business."

Koster serves as operating principal and Charity Wooden acts as managing broker, or team leader.

Wooden worked in the Owasso office as an assistant team leader where 180 to 190 associates are the norm. She took a year off before signing on with the new Bartlesville office.

"My job here is to make sure associates are well trained and bring in new associates and teach them our culture and the Keller values. My role is to educate, educate, educate," said Wooden, who doesn't sell real estate so she won't compete with the associates.

So far, several local agents, most notably Brenda and Jerry Pierce, have signed on with Keller Williams.

"We're not here to run other companies out," said Wooden, "but this can be a good business decision for some. Profit sharing is a big reason people change. At Keller, 47 percent of the profits go back to the associates."

Besides company profit sharing and continuous training, associates earn 100 percent of their profits once they reach a cap on commissions paid to Keller Williams.

"We also don't do any national advertising because we try to keep expenses low and profits high," Wooden said. "Everything is word of mouth."

Wooden has been very impressed with the Bartlesville market.

"I didn't know much about Bartlesville and started doing research. I was surprised at how much production there is "" the market is doing really well. Everybody has the opportunity to make money and service the client.

Wooden said the company plans to become very involved with the community.

"It's all about giving back," she said.

Koster said the company remodel, which includes most of the building they occupy, should be finished by Sept. 18. A grand opening date will be announced later.

"It's just exciting," said Koster. "I'm very pleased with the response I'm getting. Clients know the name, the reputation."

Keller Williams in Bartlesville represents about 20 percent of the area real estate market.

"The market is slowing," she said. "It has changed from a seller's market to a buyer's market. With the interest rates still good, it's a great time to buy."

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