Is Fathom Realty Legit? My one year anniversary testimonial.

Before I was somewhat forced to find a new RE Brokerage last year I did my research on the options available to me in Oregon. 

It was between a few established brokerages and relationships and the independent models of REAL BROKERAGE, EXP REALTY and FATHOM REALTY. To be perfectly honest, everywhere else was just too expensive! 

My situation is a little unique in that I'm licensed in both Oregon and California. One of the main considerations for me was how the CAP (if any) applied to multiple state brokers. Most had either separate CAP's or different particulars depending on the specific branch you were a part of. I can't afford to operate an elite business on that. 

As a very independent broker I don't require much support. What I do/did necessitate is a fair pay structure that allowed me to invest into my business, staff and marketing layered on a highly efficient and proficient remote transactional model. I personally don't utilize or need a physical office and no brokerages were offering any hard leads. 

Unless you're a very seasoned real estate broker, or on a team, there are likely limited leads coming your way through the brokerage. The major real estate model is antiquated (evident by the recent class action lawsuits) and most succesful independent RE brokers might not be getting the value of paying 15-20-25% per deal to the house even though they're responsible for all the other costs of generating and facilitating the transaction. 

Do not get me wrong, some brokers have a great incentive to stay at Remax, Century 21, Coldwell Banker, Berkshire and Compass. My mentor's mother is a 40 year broker and half of her business is corporate relocation clients through the brokerage. She's earned it and that's a tough funnel to turn off. 

When independent brokers get large enough they either negotiate much more favorable terms or often get their primary brokerage license and launch their own brand. Becoming a business owner comes with its own responsibilities, and the brokerages I explored are somewhat in the middle. You can operate your own business with some support and tools while still providing world class service and branding. 

I won't go into why I didn't go with the above companies so much as why I did go with Fathom and some of the key points and benefits. Beyond the particulars I've found them to be transparent, service oriented and progressive. I tripled my production YTD since I joined in March of 2023, with an anticipated $10M+ in closed and pending sales by the anniversary date. 

- COMMISSIONS - I don't like CAP's. Period. It's too difficult to know when you'll reach them and if you don't then it's essentially the 'introductory' split. Fathom is FLAT FEE on residential transactions. $550/deal for the first 15 deals. You can have a team and their first 5 deals are $550/deal. There is an incremental $150 additional fee introduced for 2024 based on sales price. That's it. Beyond the CAP the transactions are 100% to BROKER. 

Commercial transactions are 90/10% and brokers cannot be dual agents (represent both sides on a commercial transaction). 

Leases are a flat $85 fee. 

And plus the annual fee outlined below. 

- TECH- The systems are very user friendly. Online CRM Portal with lots of user and client features (that I have underutilized) and really simple to use Marketing tools, website builder and deal management system. Easy to set up a user to farm listings, order signs, cards, merchandise, I love their IntelliAgent system. I think they're also the only brokerage that doesn't charge a monthly desk fee? Don't quote me on that.. They do charge a $700 annual fee paid out of the first anniversary deal. So your first deal is the full commission minus the $550+ plus the $700 desk/tech fee. Proportionally, I suppose it's better to start the year off with a larger deal :) 

- SUPPORT - I have to say having 'interviewed' each brokerage named that FATHOM was the most on it. They onboarded me quickly in both states and my primary broker in Oregon was very helpful. We have a husband & wife team that manage WA & OR and they literally helped me save my first deal on board with them. They are responsive when I do have questions and very experienced. The system is built for independence but when you need help is available. 

- CORPORATE & ACCOUNTING- They have a great system. Brokers upload all the docs, the centralized team reviews and approves you have to have the entire file completed and submit for the RE Demand at least 3 days before closing. It can take them 2-3 days to approve and they are very specific and compliant on what is required. It's issued and paid at closing directly to the broker. Fathom's fee is mailed or wired to them directly. Corporate is super communicative with 1099's and they are efficient. 

- SIZE & SCALE - Fathom is definitely smaller compared to many of the companies above and does very little recruiting if any. They rely on referrals, although that's not how I found them. I liked the fact I was one of a handful of brokers in my area and could possibly get internal company referrals from other Fathom broker/agents with clients moving to Oregon from out of the area. That's exactly what happened month one, when a Fathom broker from ID sent a referral from her friend for her son in Eugene. 

- OTHER - I'm not going to dive into a lot of the other benefits/advantages as if you're interested they are available online. But here are incentives for being part of the team:

- CAP4LIFE - If you refer four broker that each reach their 15 CAP you pay $0 in brokerage fees forever. 

- STOCK OPTIONS - 

- SCHOLARSHIPS - 

- SPOUSE PLANS - 

- BRANDING - 

- CULTURE - 

If you have any questions about FATHOM REALTY and my individual experience feel free to connect anytime. It can be difficult to find reliable unbiased information on organizations and personally my business has exploded, partially as result of reinvesting the typical brokerage portion of my commission into my business. 

If you do happen to need a reference for who put you on or how you heard about us.. Anthony Wong, Oregon & California. I'm always looking for teammates throughout California refer clients or partner with, especially in vacation rental friendly areas. 

Cheers.