Please remember that per the P&G, only employees of affiliated companies
that are owned wholly or in part by the Market Center are eligible to
participate in the Profit Share system, and even then, they may not be
entered into the WinMORE system until the time at which they have been
named someone’s sponsor. Many Market Centers have used the Intranet to
keep vendors “in the loop” in the past, but there is currently no way to
grant them access. If you have mistakenly entered a vendor into your
WinMORE to allow them to access your Market Center’s intranet, please be
sure to remove them immediately to help us maintain the integrity of the
wonderful gift of Profit Share! If you have any questions about this
policy, please feel free to contact email@example.com. You can also find
the most current language in regard to this issue in the P&G, section
We are running out of offices in the Market Center for Agents, does anyone
have any polices or criteria they have put in place for being able to have
an office in the Market Center?
Market Center Administrator
The updated P&G Manual is now available on MyKW for you to download and update with your Market Center policies. Please note there were two important changes voted in at the last IALC meeting. The first is a change to the Administrative Fees Charged to Capped Associates and the second is a change to the amount of Recruiting Incentives a Market Center can expense each month.
To read the minutes from the last IALC meeting and download the new manual please go to MyKW/Resources/IALC and P&G Manual.
As a reminder, at Family Reunion 2013 – the IALC met. They voted on a few items that will create changes in a few sections of the P&G Manual, and there are some action items for MC’s in regards to those changes.
SO…Set up a reminder now, to download the new version of the P&G Manual on 4/1/13.
Make sure to Download it to the desktop of your computer for easy searching, replace any copies in your MC and make sure your agents are aware of the new changes.. It is also a great time to look at all the MC specific items of the P&G manual and make sure that there are none that your MC might need to adjust.
The P and G Manual is available right on the front screen of kw.com. The new one should be available on 4/1 of each year.
Cheers to a great 2013.
KW Approved Trainer and KWMCAngel
Do you ever wonder why you continually get an Action Required flag on your financials for OP Salary and/or Designated Broker Salary, month after month? That’s because you must have approval from both your region and the KWRI Compliance Department to take these expenses above the line. If you have ALC approval and regional approval, you can contact your region and ask that they submit the approval to KWRI. Once you receive approval from KWRI, please keep it with your records and forward a copy to your Angel for their file as well.
Please see the excerpts below from the P&G Manual:
“A.18 Payroll – OP. If the Local ALC votes to allow the OP Salary to be included as a KW Approved Cost (before profit share is calculated) the Market Center must submit their ALC minutes to their Regional Director and the KWRI Commitment Department for written approval. OP Salary above the line cannot exceed $2,000 per month. An OP Salary may only be included as a KW Approved Cost when the Market Center has KW Owner Profit year-to-date for that particular calendar year. A Market Center may not include both an OP salary and a GM Salary above the line.”
“A.17 Payroll-Designated Broker. For states/provinces where the law requires a Designated Broker be on site, the Designated Broker salary may be included in a KW Approved Cost category before profit share is calculated. The salary cannot exceed $2,000 per month without approval from the Regional Director and the KWRI Commitment Department.
The other states/provinces may file a request for the Broker Salary to be an Approved Cost. Their request will be considered by the Region and the KWRI Commitment Department and evaluated based on associate count and Market Center profitability.”
Make it a Great Day!
Market Center Operations Manager
Keller Williams Realty – MC393
Ever wonder who is eligible to be entered into the Winmore System from your Affiliated Partners? Ever wonder what the criteria is? Here is the P&G Explanation
184.108.40.206.8 Employees of Affiliated Companies
Sponsorship into the Profit Sharing Program by an employee of an affiliated company owned in whole or in part by a Market Center/Market Center Owner is encouraged and permissible under the following guidelines:
? Affiliated companies that currently qualify for inclusion are: Mortgage, Title/Escrow, Property Management, Real Estate Licensing Schools, Insurance, Auction and/or Referral Companies. Other companies may be considered for future inclusion in the Profit Sharing Program with recommendations from KWRI and approval by the IALC.
? To be eligible for receipt of Profit Sharing funds, the employee must have recruited at least one person into the Keller Williams Realty system.
? The time requirement for vesting will not start accumulating until the employee of the affiliated company has recruited their first person into the system.
NOTE: The date the first recruit joins Keller Williams Realty will then be considered the anniversary date for the Keller Williams Realty Profit Sharing Program, not the date they first start work for the affiliated company.
· If the affiliated company employee also holds a valid real-estate license, the license must be kept under the sponsorship of the Market Center or the Market Center’s Referral Company to retain eligibility for distributions through the Profit Sharing Pro-gram.
NOTE: The IALC reserves the right to modify these policies at any time.
KW Approved Trainer and KWMCAngel
There is one resource that gets overlooked the most but it has been around the longest! It is the Policies and Guidelines Manual. You can find it on the kw.com Home page after you have logged in. It is under Quick Links on the left hand column. Keller Williams Realty philosophy regarding systems and models really shows with the Policy and Guidelines Manual. The most obvious model is that the Policies and Guidelines manual is formatted so a market center can insert their information into the manual to create its own Market Center Policies and Guidelines manual. MCAs will then want to make sure they give this to all their agents and save it on their MC### website for easy reference.
The Policy and Guidelines manual has a great tool that goes perfectly with the MVVB and WI4CTTS that should be used with your agents however, very few people know about it. This tool is located in Addendum F page F1 and that is “The Keller Williams Realty- Real Estate Professionals Creed.” Have your agents read and sign this document along with signing the Policy and Guidelines manual. You will be surprised at their reactions! It is a great culture builder for the market center! Have you read it?
MCA – Greater Heartland Region
MCAngel – Maryland DC Region
When it comes time to post a personal transaction in WinMORE, go the P & G manual, Addendum H, page H-1 for more information. If the associate has not
capped on royalty, then you need to collect 6% from the associate, even if no commission is due. Take the sales price x 3% and then multiply that by 6%
and that is the amount you need to collect from the associate. If you need assistance in processing the DA, contact firstname.lastname@example.org
Financial Operations Manager, KWMCAngel
2011 Recipient MCA Hall of Fame
Keller Williams Syracuse, MC703
The Launch Angels need your help!
If you are aware of a new MC incubating thru your MC, please let your Angel know. Certain procedures need to be followed and we want to make you aware of these from the start!
Dale M. Schmidt
Market Center Administrator|KWMCAngel
Lincolnshire MC 282
Ph 847-383-6607 | Fax 847-383-6627
Just a friendly reminder that every year on April 1st the updated P&G manual is posted to the intranet. Please log into kw.com – go to Resources – click
on IALC and PG manual and download the current version. I put this on my desktop and use it almost daily. I love being able to use “control F” to
bring up the search function so I can quickly find the subject I am looking for.