Policies & Guidelines Manual

1 Policies & Guidelines ManualRevision 3/30/07 Keller Williams Realty International Policies & Guidelines Manual , Rev. 3/30/07iiiContentsTable of ContentsSECTION 1: HOW TO USE YOUR Manual : Definition of Interdependent .. : About this Manual ..1-1 SECTION 2: THE KELLER WILLIAMS STORY AND : The Keller Williams Story: A Convergence of Ideals .. : Solving a Riddle .. : No Compromise : Combining the : Unexpected Demand .. : The Keller Williams Philosophy .. : An End to Compromise Between Broker and : A Clear Mission .. : Our Relationship.

2 : The : Compensation For The Next Generation .. : High Commission No Risk Concept .. : Profit Sharing Unexpected : The Benefits of a Full Loop .. : World Class : Tailor-Made Education .. : Local and Regional .. : A True System .. : Get Involved ..2-7 SECTION 3: THE KELLER WILLIAMS BELIEF SYSTEM IN 3-1 SECTION 4: Policies AND Guidelines FOR LOCAL, CITY, REGIONAL AND INTERNATIONAL : Structure .. : Mission, Vision, Values, Beliefs, and Perspective: Associate Leadership Councils ..4-1 Mission ..4-1 Vision ..4-1 Values (What is Important to ALCs).

3 4-1 Beliefs (The Rules We Live By) ..4-2 Perspective .. : Keller Williams Realty Cares .. : ALC Issues .. : Local ALC : Local ALC Standing Committees ..4-5 Financial Planning Committee ..4-6 Recruiting Committee ..4-6 Keller Williams Realty International Policies & Guidelines Manual , Rev. 3/30/07ivContentsCareer Development Committee ..4-6 Technology Cares Committee ..4-6 Core Services : Local ALC Rules of Order ..4-8 Time Limit ..4-8 Agenda ..4-8 Discussion ..4-8 Council Member Contribution ..4-8 Decisions ..4-8 Monetary Assessments.

4 4-9 Published Minutes ..4-9 Attendance ..4-9 Meetings/Occurrence ..4-9 Husband/Wife Teams, Other : City ALC Structure .. : City ALC Rules of Limit ..4-11 Agenda ..4-11 Discussion ..4-12 Council Member Contribution ..4-12 Decisions ..4-12 Published Minutes ..4-12 Attendance ..4-12 Meetings/Occurrence .. : Regional ALC Structure .. : Regional ALC Rules of Limit ..4-14 Agenda ..4-14 Discussion ..4-14 Council Member Contribution ..4-15 Decisions ..4-15 Published Minutes ..4-15 Attendance ..4-15 Occurrence .. : International ALC Structure.

5 : International ALC Standing Committees .. : International ALC Rules for Passing Votes .. : International ALC Rules of Order For Meetings ..4-19 Time Limit ..4-19 Agenda ..4-19 Discussion ..4-19 Council Member Contribution ..4-19 Decisions ..4-20 Published Minutes ..4-20 Attendance ..4-20 International Staff Contribution ..4-20 Meetings/Occurrence .. : International ALC Teleconference : The Associate Leadership Council Input Organizational Chart ..4-22 Keller Williams Realty International Policies & Guidelines Manual , Rev. 3/30 : Policies And Guidelines .

6 : Local Policies and Guidelines ..4-23 Administrative Checklist ..4-23 Administrative Staff Holidays ..4-23 United Policy ..4-23 Agency Policy ..4-23 Bonuses Paid Policy ..4-24 Business Meetings (Team Meetings - Sales Meetings) ..4-24 Closings Policy ..4-24 Commission Schedule ..4-24 Commission Splits ..4-24 Commission Transaction Fee for 100% Associate ..4-25 Complaints/Disputes Involving other Associates ..4-25 Conduct ..4-26 Contracts ..4-26 Presentation to the and Omissions (E&O) ..4-26 Equipment/Software ..4-27 Copy Machine.

7 4-27 Fax Deposits ..4-27 Keeping in Contact with Your Market Center ..4-27 Legal Fee Policy ..4-28 Listings ..4-28 Open/Exclusive Right to with Sellers ..4-28 Listing/Sales Files ..4-28 Changes on Center Hours ..4-29 Market Center Tidiness ..4-29 Negotiating Commissions ..4-29 Personal Real Estate (Buying, Selling and Leasing) ..4-29 Phone Caravan (Tour) Policy ..4-30 REALTOR Associations ..4-31 National (US).. Procedures ..4-31 Outside Referrals ..4-31 Inside Referrals ..4-31 Seller's Net Statement ..4-32 Square Footage.

8 4-32 Keller Williams Realty International Policies & Guidelines Manual , Rev. 3/30/07viContentsSupplies ..4-32 Termination of Associate Relationship ..4-32 Time Off - Associate ..4-33 Transferring ..4-33 Unpaid Bills .. : City Policies and .. : Regional Policies and : International Policies and Guidelines ..4-34 Antitrust Compliance Policy ..4-35 Associates Representing Our Firm ..4-35 Attitude ..4-35 Authorization to Use Company Name ..4-36 Business Cards ..4-36 Closed Transactions ..4-36 Dispute Settlement Through Arbitration.

9 4-37E&O Insurance ..4-37 Equal Employment Opportunity ..4-37 Equal Housing Opportunity ..4-37 Ethics ..4-38 United Associate ..4-38 Fiscal Year ..4-39 Harassment Policy ..4-40 Harassment Remedies Available Under State and Federal Law ..4-40 Harassment Changes ..4-41 Husband and Wife Teams, Other Teams/Groups ..4-41 Insurance ..4-41 Legal and Trial Expense ..4-42 Marketing Items Policy ..4-42 Open Door Policy ..4-42 Personal Real Estate: Buying, Selling and Leasing ..4-42 Policies and Guidelines Review ..4-43 Profit-Sharing Program.

10 4-44 Profit Share Calculation ..4-44 Profit Share Distribution ..4-46 Profit Sharing Program: Operating Policies and Procedures ..4-47 Distribution of Profit Sharing Checks ..4-47 Personal ..4-48 Termination or Amendment of the Profit Sharing or Bankruptcy of Keller Williams Realty ..4-49 Real Estate Associates Tracking System (RATS) Fee ..4-49 Husband and Wife Teams, Other Teams/Groups ..4-49 Employees of Affiliated Companies ..4-49 Ownership Cap ..4-49 Ownership Royalty Cap ..4-50 Profit Sharing Residual Account ..4-50 Keller Williams Realty International Policies & Guidelines Manual , Rev.