Summary: Fathom Realty introduced a single commission plan designed for both lower and higher producing agents.
CARY, North Carolina, Nov. 22, 2018 — Fathom Realty Holdings, LLC rolled out a brand new commission structure for their agents in 2019, which includes versions for teams and spouses. This single commission plan replaced Fathom’s previous Gold and Platinum plans, and transitioned to a CAP structure. On this new plan, Fathom agents pay a $450 fee for each of their first 12 transactions, and then $99 per transaction after the CAP. This equates to a $5,400 CAP. Fathom also removed their monthly fee previously charged on their Platinum Plan. Lastly, agents pay a $500 annual fee charged on the first transaction of each anniversary year. Fathom provides errors and omissions insurance, support, technology, and training included in the plan at no extra cost to the agents. Fathom agents are also able to purchase low-cost healthcare through Fathom’s health partner.
“I had a meeting with an agent last February,” said Josh Harley, CEO. “I noticed that she was still on our Gold Plan and yet had consistently closed over 20 homes per year. I asked her why she hadn’t changed over to our Platinum Plan, and told her that she would save over $4,000 per year. I was surprised and saddened by her response. She told me she was a single mother, and while she would love to save that money, she lived paycheck-to-paycheck and couldn’t afford to pay the $300 per month. Over the next several months I met with several high-producing agents who shared the exact same story. They were all single mothers, and none of them could afford to move to the platinum plan even though it ultimately meant paying thousands more each year. I knew we could do better. More importantly it was my duty to serve them as both their CEO and their friend. So today we are taking action. Today we are changing our plans to make sure no other agent finds themselves in that position. Today we are making our plans better.”
Fathom’s new plan is designed to help their agents’ businesses succeed by only charging a single low-cost fee per transaction while incentivizing agents to reach a higher number of closings within a calendar year for even more savings. Fathom encourages agents to reinvest their savings into the growth of their personal businesses.
About Fathom Realty: Fathom Realty is a national, cloud-based, full-service real estate brokerage. Fathom is dedicated to serving agents by providing the industry’s best technology, effective training, and the highest level of support. Agents enjoy a higher net income through Fathom’s flat-fee based commission splits allowing them to invest more money into growing their business. Fathom agents also earn stock grants based on their contribution to revenue and company growth.
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