A New CEO For KW As It Announces Major Investor
Today, Keller Williams, the Austin based powerhouse real estate franchise, dropped a giant announcement: it has been invested by private equity firm Stone Point Capital. The deal gives Stone Point a major ownership stake in the company and rocks and rolls in a new era of leadership and growth for the brokerage giant.
Under the deal, Christopher Czarnecki, who recently left as CEO of real estate investment trust (REIT) Broadstone Net Lease, Inc., will take over the helm as CEO at Keller Williams. Mark Willis had quit as his leader at the start of this year. In the next phase of expansion and innovation, Czarnecki’s experience in real estate and corporate leadership leaves him ideally positioned to shepherd Keller Williams forward.
The company’s iconic founder and chairman Gary Keller will stay on and maintain a partial ownership stake. Keller framed the partnership with Stone Point as a strategic move to build the company’s growth and reaffirm its commitment to agent success in the announcement.
“We have built such a strong foundation, and as we stay completely focused on each agent’s personal development and sales growth, we are pleased to have the partnership and support from Stone Point Capital team.” Stone Point, which owns CoreLogic and has more proptech stakes, is known for helping companies rise, go to the next level.
Concerning the future, Keller mentioned that he was excited and still very committed to the company. “I’m excited about the most prolific writing, teaching and coaching phase of my 48 year real estate career,” he told The GRIN. “I don’t want to leave this company.”
The announcement stated that Stone Point’s history of partnering with successful businesses to grow and innovate is strong. This partnership should help Keller Williams concentrate more on marketing, branding, education, coaching and on technology. Stone Point’s expertise will allow the brokerage to further empower its agents and franchisees.
Keller also signaled new incentives for top-earning agents and ways to attract talent to the brokerage. With that in mind, he said, “We will be watching for new paths to making sure that the agents and franchisees who are the engine that drives our growth can have a piece of the company’s future.”
Inman was the first to report on news of investment and leadership as Keller Williams seeks to increase its market influence in the real estate market. With a new chief executive Greg Keller Williams poised to accelerate the company’s growth and keeping alive that firm’s tradition of agent centric innovation under its watchful eye, it seems.
