Skip to main content

Keller Williams heads to Cambodia


Keller Williams Worldwide announced on Thursday the launch of a new master franchise in Phnom Penh, Cambodia. This brings the number of master franchises in Asia to eight, including offices in Dubai, UAE; Greater Shanghai, China; Israel; Indonesia; the Philippines; Turkey; and Vietnam.

Regional Operating Principal Kim Heang will lead Keller Williams’ growth strategy across the country, starting with implementing the brokerage’s models and systems at his Phnom Penh-based real estate firm, Khmer Real Estate Co, Ltd.

The firm will officially begin operating as a Keller Williams Worldwide franchisee by year’s end, according to a press release.

“Kim Heang is exactly the type of learning-based, growth-oriented leader that we want to be in business with,” said Keller Williams Worldwide President William E. Soteroff.

“He saw a market opportunity to bring a new model into his country and took action immediately,” he said as a reference to KWW’s master franchisee application process. “The KW Cambodia leadership team is also one of the most dynamic and influential that we’ve seen in international real estate.”

In a prepared statement, Heang said Cambodia’s real estate market has experienced explosive growth over the past five years, but noted that many real estate agents don’t have the professional training or human resource support to create thriving businesses.

How TorchX helps brokerages centralize and automate digital marketing for their agents

One platform to generate, convert and nurture real estate leads READ MORE

“Keller Williams is a company which has a business model that fits the market situation in Cambodia, which has a lot of young people and many untrained or unlicensed real estate agents in business,” he said. “We are very proud to be a part of the Keller Williams family. We will take real estate to the next level leveraging the brand’s value proposition.”

The move into Cambodia marks Keller Williams Worldwide’s third expansion announcement this year — the first being the South American market of Argentina, and the second being the European markets of Belgium and Luxembourg.

With these strategic moves, the franchisor managed to add 4,714 agents to its international headcount during the first half of FY 2018, according to an earnings report released in August.

KW Worldwide agents closed 6,887 transactions for a total of $1.2 billion in sales volume, a 46.9 percent increase year-over-year. During the first half of FY 2018, those same agents closed 12,674 transactions for a total of $2.2 billion — a whopping 68.5 percent increase from FY 2017.

At the same time, Keller Williams has continued to expand its technology offerings for agents back in the U.S., including its AI assistant app Kelle, which won Inman’s Innovator Award for Best Real Estate Technology at Inman Connect San Francisco 2018.

Email Marian McPherson


Keller Williams heads to Cambodia curated from Inman – Real Estate News for Realtors and Brokers

Comments

Post a Comment

Popular posts from this blog

Vacation rental company Vacasa buys Sterling Resorts

Vacation rental management tech startup  Vacasa  isn’t slowing down its ambitions to conquer the market: this week, it announced that it has purchased Sterling Resorts, a vacation management company on Florida’s Gulf Coast. Sterling has changed hands before: it was  bought by Pacifica Companies in 2015 and currently manages 450 homes. Now it will become a part of Vacasa’s effort to expand its presence in vacation destinations such as northern Florida, where Sterling is based. At the time of this latest purchase, Sterling’s home inventory was  down from 585 properties in 2015. Vacasa has raised more than $200 million since its launch ten years ago. Founder Eric Breon said he was motivated to start the company after struggling to find a satisfactory management solution for a cabin belonging to his wife’s family on the Washington coast. Now Vacasa seeks to provide rental property owners with “a seamless experience…through innovative technology and local staf...
Post a Comment
Read more

In An Era Of WeWork, Co-Working Space NeueHouse Sits Above The Fray

NeueHouse CEO Josh Wyatt Seuss Moments In today’s cluttered co-working landscape, it can be hard for companies to makes themselves heard over the din. Elevated co-working space  NeueHouse  wants to create an unparalleled experience for creatives through elevated programming and outstanding design. NeueHouse describes itself as “ a private cultural and collaborative space for prominent creatives, artists and entrepreneurs,” with current locations in Los Angeles and New York. In November, following an announcement of $30 million in funding , the company announced Josh Wyatt as its new CEO. Wyatt is a veteran of the hospitality industry, having co-founded Generator  in 2007, a chain of culture-focused hostels targeted at millennials, before moving on to Equinox to head the fitness brand’s hotel developments in New York City. Forbes interviewed Wyatt to talk about creativity, design, the gun threat incident at NeueHouse New York, and why he i...
Post a Comment
Read more

Could Ken Griffin's Penthouse Purchase Cost NYC Real Estate Buyers Millions?

'The Billionaire's Bunker' at 220 Central Park South is pictured on January 24, 2019, in New York - Hedge fund billionaire Ken Griffin has completed the purchase of a four-story penthouse in the building for $238 millionm- the most ever paid for a home in the US. The building is a residential skyscraper that is currently under construction. (Photo credit: TIMOTHY A. CLARY/AFP/Getty Images) Getty A 2014 bill that aims to impose an additional tax on part-time New York residents—dubbed the “pied-a-terre tax”—has risen from the dead, largely in thanks to the recent record-breaking Central Park penthouse purchase by billionaire Ken Griffin. Griffin, worth an estimated $11.7 billion and No. 45 on the Forbes 400 , reportedly bought the $238 million-dollar apartment “as a place to stay when he’s in town,” according to his representatives. The purchase drew widespread attention to the financial losses that part-time and foreign property owners can cause the city. Bec...
Post a Comment
Read more