When a new Market Center is in the process of Launching, MC Leaders will be supported by the Launch Team and led by the Launch Coordinator. The Launch Coordinator will send a link to the Launch Checklist that will be used throughout the Launch process. There will be a weekly Launch Check-In call with the Market Center Leaders (OP, TL, MCA), Regional leadership, and the Franchise Systems department.
NOTE: This guide is not a complete list of steps; please reference the project management tool provided by the Launch Coordinator for additional to-do items for the Launch process. All Launch checklist steps include a link to Knowledge Base articles with how-to steps and best practices. Please reference the links included in the checklist for additional information on specific Launch checklist items.
The MCA must check the firstname.lastname@example.org email account multiple times a day. This will allow the MCA to track their progress on the Launch Checklist as well as receive follow-up or reminder emails from the Launch Coordinator.
Per the Market Center’s Franchise Agreement, the Market Center is responsible for paying a monthly Marketing Fee of $79 and Technology Fee of $83.33 to Keller Williams Realty International. This fee is assessed from the Market Center’s effective date. This fee will be included in the first bank draft after the first transmittal and should be added to the Market Center’s KWRI Invoice for their transmittal month. Additionally, when creating the KWRI Invoice for the transmittal month, the Launching Market Center will include line items for Associate Tech and G-Suite Fees for each month prior to their transmittal month. For information on how to create the KWRI Invoice please see: Create Initial Invoice to KWRI (AccountEdge) or Create Initial Invoice to KWRI (Lonewolf).
WinMORE is date-specific, and because of this it requires that your program be set to the proper date after transmittal has passed for other Market Centers. Launching Market Centers do not transmit for the first 90 days and therefore must “manually” move the period forward in WinMORE. Launching Market Centers will complete the All Associates download as normal on the 21st of each month, including during the first 90 days. They will also email email@example.com at the end of each month during the first 90 days to move the period forward in WinMORE. This process will roll over all Listings, DAs, and Enroll Dates. Please note that all DAs must be in the U (Unposted) status.
At the end of the transmittal month, the Market Center will send in both financial statements (Balance Sheet and Income Statement) to firstname.lastname@example.org when they have completed entering all DAs and expenses. The Market Center must obtain approval from both the Launch Coordinator and their Regional leadership for their financials in order to transmit for the first time. For instructions on how to access the KW Financial Statements, please see: KW Financial Statement - Overview.
When entering Organizational/Start-Up Costs, always refer to the Keller Williams Chart of Accounts and consult with a CPA for best practices on where to code expenses. Organizational/Start-Up Costs should only be for expenses related to the tax ID of the Launching Market Center; expenses related to any other entity are not permitted to be entered. KWRI Guidelines for Organizational/Start-Up Costs, Opening Costs, and True Expenses are:
- Organizational Costs: Anything that occurred prior to the Market Center opening the doors for business, excluding Fixed Assets
- Opening Costs (9-80xx): Anything that occurred after the Market Center opening, such as first large purchases of office supplies, advertising, grand opening, etc.
- True Expenses (6-xxxx): Anything that occurred after the Market Center opening that are true expenses with Regionally-approved budgets
For detailed instructions on entering Organizational/Start-Up costs, please see: US & Quebec - Entering Organizational and Startup Costs and Canada - Entering Organizational and Startup Costs.
Please Review the Following Articles on Launch-Specific Processes: