Agent Owned Properties / Personal Transactions

Associates are allowed two personal transactions of their own properties (purchase or sale) without having to pay company dollar to Keller Williams Realty, per calendar year. Agent to submit the KW Policy – Sale of Personal Property form [see link below] for Team Leader approval.

KW Policy Sale of Personal Property 083122

• The agents name must be listed as the CURRENT owner of the property on title if for sale and in the case of purchase on the Grant Deed.
• The agent must pay Keller Williams International Franchise Fee (if not capped), market center transaction fee, and transaction coordination fee (if applicable).
• The agent must have paid their Errors & Omissions Insurance in full.
• The agent must have per our Errors and Omissions Insurance policy requirements:
  • A seller disclosure form that is signed by the insured and acknowledged by the Buyer prior to closing,
  • A home warranty policy is purchased prior to closing;
  • A home inspection completed, and a copy is provided to the Buyer prior to closing; and,
  • A state or local board approved standard sales contract is utilized.
• In certain circumstances an agent may not be able to act as the listing agent on their own transaction, check with the Team Leader or Asst. Team Leader for clarification. In this case an agent shall have another market center associate list the property and the two parties can work out any compensation arrangements on their own.
• Any board or MLS fee must be paid by the agent.
• The agent must have closed three sales transactions with Keller Williams Realty, and paid company dollar, prior to personal sale or purchase to receive waiver of paying company dollar in the transaction.
• If litigation arises from a personal transaction, the agent will be responsible for paying and all legal fees and E&O deductible costs.
• In the case of a short-sale on an agent’s personal property, the agent is required to have another associate list he property and handle the transaction. The agent (owner) will not receive any compensation from the sale, including commission or referral fee.
• An agent cannot also represent the buyer in the sale of their own personal property. An agent may, however, refer the buyer to another associate for a regular referral fee.