There are two ways to increase your income: sell more homes or lower your expenses. And the easiest way to reduce your costs is to eliminate broker splits and fees in this shifting market. Fathom Realty’s 100% commission plan, with no monthly fees and an annual cap at 12 transactions, generates the income to take your business to the next level so you can close more homes.
Let’s do the math
Let’s consider a $430,000 sale with a 2.7% commission at a 70/30 split, versus the Fathom flat transaction fee model. The closing would generate $11,610 in commission, leaving the agent with $8,127 after paying the brokerage split. In comparison, a Fathom agent earns $11,110 after a flat transaction fee of $500. That is an additional $2,983 per sale they reinvest in their business or put back in their pocket!
Taking this example beyond Fathom’s twelve transaction cap, while the traditional split still leaves the agent with $8,127 per sale, the Fathom agent now earns $11,511 after paying the reduced $99 capped transaction fee per sale for the remainder of the year. The only additional cost is the $600 annual fee. Fathom has no E&O, franchise, desk, technology, or other hidden fees. How transparent is your brokerage when disclosing fees?
Here’s how 4 + 4 = FREE!
It gets even better with Fathom’s new FREE4Life Agent Referral Program. Refer four agents who join Fathom and become Capped for Life in addition to earning $250 in stock grants per sale. Once you CAP4Life, you will no longer pay Fathom’s $500 transaction fee, only the Capped Transaction Fee.
Then if you refer four more agents, for eight total agents, who join Fathom, you become FREE4Life in addition to the $250 stock grant you earn per agent referral. You will never pay another fee to Fathom once you are FREE4Life! (excludes commercial and 3rd party fees). Referred agents must have completed at least two transactions in the past 12 months and stay with Fathom for a minimum of 60 days to count toward the eight agents referred.
You read that right: When you achieve FREE4Life status at Fathom, you pay NO Annual Fee, NO Transaction Fees, and NO Risk Management Fees, EVER! So how does your brokerage fee schedule compare?
The right brokerage during turbulent times
According to the National Association of Realtors®’ latest quarterly report, most metro markets had home price gains in the third quarter of 2022, even with increasing mortgage rates and declining sales. Also, per NAR, the national median for single-family, existing homes climbed 8.6% from last year to almost $398,500.
What does that mean for you? As home prices rise, so do your commission per sale and the split you pay to your broker. Over the past two years, split commission models have generated huge earnings for brokerages without their agents even realizing it. In contrast, Fathom agents have kept more of their hard-earned commissions by paying the same flat transaction fees that did not increase with escalating home prices. So what would that additional income mean to you during this turbulent market?
At Fathom Realty, we believe in serving our agents. Period. We are transparent in our fees, and we lead with integrity. Isn’t it time for you to get more from your broker? Learn more about how you can say goodbye to commission fees forever at https://fathomcareers.com/free/