Keller Williams Realty, The Marketplace, Rick & Teri Brenkus Team Failed to up hold the Duties of a Real Estate Licensee, and made unauthorized transactions for the Seller Las Vegas Nevada

I have seen many negative postings regarding Keller Williams Realty here and as a KW agent, I feel compelled to shed some light on some of the comments I've read.

In general, just about every real estate agent including myself is an independent contractor running their own business and essentially paying a fee to affiliate with the corporate franchise name, logo, etc (just as each McDonalds is owned by a different owner). This is true (at least in my region) of just about every real esate firm and not just KW. With the unbelievably large number of licensed agents out there, I'm sure there are some bad apples and some have had legitimate bad experiences with particular individuals. Therefore, it is not fair to speak badly about an entire franchise simply because you had a bad experience with one "employee / contractor". If you search this site for Remax, Century 21 or any other large brokerage, you'll see an equal number of bad experiences that clients have had with individual agents of these companies. Bottom line: there are good and bad agents at every firm.

1. One poster complained that since all KW agents are independent contractors (their own companies) your ability to "go after them" is limited. This is true; but it is also true for just about every real estate agent out there (not just KW agents). That's just how the industry is set up. This is not a unique set up that Keller Williams crafted to take advantage of you.

2. Many seem to be misunderstanding the recruiting incentive and likening it to a "pyramid scheme". I have been an agent with KW for almost 2 years and I have never recruited a single person or received a penny from recruiting. My PRIMARY focus and the primary focus of anyone who joins KW or any other company is and should be to sell real estate and keep my client's interests in mind to encourage repeat and referral based sales. I make the same commission at KW that I would make at most other nationally franchised agencies without recruiting at all. It is so important for people to realize that the recruiting bonus is just that: a BONUS and not by any means the primary form of compensation or focus. It is simply a referral bonus similar to a company paying employees for referring potential new employees to their HR department. Afterall, since good producing agents are profit-centers for the business then why shouldn't the company share a small piece of that profit with me if I was directly or indirectly responsible for giving the company that revenue stream? Is it more fair for the owners to simply keep it all? That's what most other companies do.

This is the response to the report made by Kathy about The Brenkus Team with Keller Williams Realty the Marketplace. There are several inaccuracies with her report.

During the listing presentation, Kathy mentioned she was interested in possibly becoming a Real Estate Agent. Rick offered to meet with her regarding the benefits Keller Williams Realty has to offer.

This property was on the market with another Real Estate Company asking 244,900 and failed to sell. 15 days after it was officially taken off the market with the other company, The Brenkus Team listed this property for 240,000. Due to The Brenkus Team's marketing efforts, they generated several offers and sold this property in 2 days!!

During this transaction, The Brenkus Team represented the Seller and the Buyer was represented by a different Real Estate Company.

The contract stated that the property was going to close on July 14, 2004. The buyer's agent informed The Brenkus Team that the lender needed some more time to close escrow. We discussed several options with Kathy including canceling this transaction. Kathy decided to agree to extend until the end of the month, if the Buyer released $2,000 of their earnest money and paid an additional $500 for the delay. This money was to be forfeited by the Buyer if the property failed to close by the new agreed upon date. An addendum to the contract was prepared with these terms and signed by all parties. The $2000.00 was released to Kathy from the title company.

The day before the transaction closed, the buyer and buyer's agent did their final walk through. They noticed a leak with the piping in the backyard. They sent an addendum to hold $1000 of Kathy's proceeds in escrow until leak is fixed. Kathy agreed to the addendum in writing and the property closed.

Every extension and addendum was agreed to by both parties. There were not any agreements made without the written and signed consent of the seller. Kathy signed every amendment and extension with this transaction.

When Kathy vacated the property, she failed to cap off the water lines for the washer and refrigerator. When the buyer gained access, the property had water damage. The buyer's agent presented The Brenkus Team with an addendum stating that the $1000 being held in escrow for the piping repairs in the backyard, shall be credited to the Buyer for the water damage done to the property. The buyer's agent informed us the repairs included water damage to the drywall, carpet, vinyl flooring and baseboards and the costs would exceed $1000.

The Brenkus Team presented Kathy with the addendum. Kathy acknowledged not capping the lines; however, she refused to contribute to the expense of the water damage. The Brenkus Team recommended she seek legal advice. Kathy informed The Brenkus Team she was seeking legal advice.
At no time did The Brenkus Team represent the buyer. Keller Williams Realty did not charge Kathy any additional fees to represent the Buyer. A cost sheet was done at the time of the listing, and another at the time of the offer describing all the fees Kathy would be paying upon closing.

The Brenkus Team's goal is to provide service beyond excellence and represent our client's interests to the fullest. We are in hopes Kathy is doing well and looking back realizes The Brenkus Team did everything possible to represent her. The Brenkus Team has represented THOUSANDS of families with successfully closings and has received thousands of referrals from their past clients. The Brenkus Team has averaged selling over 300 homes every year for the last 5 years and has been in business for approximately 20 years! Rick and Teri Brenkus are instructors for the Greater Las Vegas Association of Realtors and are approved CE instructors for the state of Nevada. If you have any Real Estate needs please contact us anytime at 702-456-5959 or visit our Website at www.Brenkus.com... God Bless You...

I have been doing extensive research of Keller Williams realty here in Northern California. My findings suggest it is nothing more than a glorified Pyramid Scheme. In California this is resulting in neophyte agents, many who are still on probation with the California Department of Real Estate, to be "recruited" by other agents to work in a business they have very little if any knowledge of.

Here's how the Keller Williams plan works: Agents are paid as agents, but they have a second revenue stream as recruiters. Agents are paid a percentage of the production of their recruits and ther recruits' recruits. The profits generated by the recruits can help pay agents beyond retirement and to the agent's heirs after death. This is why you will see every Keller Williams Realty website to focus mainly on the recruiting of new agents.

Keller Williams places no emphasis on the sellers or buyers, they have no real estate tools for their agents such as advertising, insurance, re-location, anything that would benefit the consumer. It is only about the agents themselves becoming "rich", "mega agents" and "millionaires", all at the expense of the consumer.

Every agent is on their "own", so your ability to recoup expenses due to their "ripoffs" or recoup revenues due to liability for their actions, is only as good as the agent's own worth. In fact here in California, agents are setting up Corporations which are against the law of the California Real Estate Commissioner. They are also violating many of the California Business codes.

The only way consumers will be able to stop this incredible ripoff, being perpetuated on the Real Estate Market Victims, is by exposing this company for what it really is. The fact that Keller Williams agents are out of control,(there is absolutly no Corporate guidance as to ethics, etc.) they have total disregard to the consumer and are using the real estate business only for their own riches, at the expense of the unknowing consumer.

Unfortunately it is extremely difficult to investigate real estate agents, in fact here in California the Department of Real Estate is backed up for about three years with complaints.
Besides, average consumers have a difficult time in learning how to navigate these goverment departments. Meanwhile, Keller Williams Realty is pulling an incredible scam on the public, riding the "real estate tidal wave" until it will all come crashing ashore, drowning it's many victims.