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Fathom Realty files for IPO

Following competitor eXp realty who went public last May

Fathom Realty CEO Josh Harley (Credit: RealTrends)

Residential brokerage Fathom Realty announced plans to file for an IPO. The cloud-based company operates on a commission model.

Broker’s perspective: On the first 12 transactions an agent closes in a year, Fathom Realty receives $450 per deal, and $99 for every subsequent transaction. Agents also pay a $500 annual fee, and earn company stock based on their success, according to TRD and Inman.

Worth Noting: Fathom’s competitor eXp Realty went public last May, and has a market cap of nearly $600 million. At the end of 2018, Fathom had 2,724 agents.

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