AgentBrokerage

No office, 100% commission: How an 18-state virtual brokerage makes money

100% commission brokerages can be little more than license warehouses. This is not the model Fathom Realty is going for.
  • Fathom Realty is a 100-percent commission brokerage that gives staff equity ownership.
  • Founder Josh Harley says the 100-percent commission brokerage is the model of the future.
  • When choosing such a brokerage, Harley says to make sure it has a good reputation and accounting practices.
  • When researching such brokerages, find out what other fees the company will add for services.
  • With the money saved from being in a 100-percent commission brokerage, agents should invest in their personal sphere with time and money.

Learn the New Luxury Playbook at Luxury Connect | October 18-19 at the Beverly Hills Hotel

Josh Harley Fathom Realty founder and CEO, Joshua Harley, doesn't like to use the term "100-percent commission brokerage" to describe his fast-growing firm because these companies have reputations as simply "license warehouses," he says. He prefers to describe Fathom, which started in Dallas-Fort Worth in 2010, as a full-service brokerage that offers the industry’s best commission plans. The beginnings of Fathom Harley had the idea to launch Fathom after being a real estate agent for a relatively short time in 2009 with Keller Williams, followed by an underwhelming experience with a 100-percent commission brokerage. A lead generator at Keller Williams, he had built a team of 10 (plus himself) at the Keller Williams Realty McKinney office. Though he thinks very highly of the franchisor, after a year he felt he was providing all the leads and was beginning to resent the commission split. So he decided he would try the team with a 100-percent commission brokerage based ...