Fathom Realty recently announced its new CAP4 LIFE referral program, which is designed to reward its agents for referring other agents to the company. Fathom agents currently pay a small flat $500 transaction fee on their first twelve sales, at which point they cap. Once a Fathom agent caps, their transaction fee reduces to only $99 per sale. Fathom’s cap works much like other traditional split companies in that the agent remains ‘capped’ for the remainder of the year before the cap resets, and they go back to paying $500 per sale.
With this new referral program, when a Fathom agent refers four other agents to Fathom Realty, they will be capped for life. Their transaction fee will remain at the lower capped fee of $99 for as long as they are with Fathom, even if one of those four agents leaves the company in the future. The CAP4 LIFE benefit is on top of the stock grants agents already receive for each agent they refer.
“Currently, over 35% of our agent growth comes from our own agent’s referrals. So we wanted to say ‘thank you’ by providing them with greater and more permanent benefits for their referrals. We have already seen an increase in agent referrals and look forward to seeing how our agents take advantage of this new program,” explained Josh Harley, Fathom’s Founder and CEO. “We believe an agent should receive the highest commission possible for their transactions and be immediately rewarded for their referrals rather than depend on others.”
This new agent referral program can also improve real estate team recruiting and retention. When a team leader joins Fathom, they immediately receive credit for the agents on their team. That means a team leader with four or more agents will be capped for life from day one, never paying the higher $500 transaction fee.
Many companies provide incentives for agent referrals, but none directly and immediately reward their agents as Fathom does. By offering lower transaction fees and stock grants for referrals, Fathom is significantly improving its agents’ lives. The typical agent who joins Fathom saves an average of over $12,000 per year and increases their business by an average of 49%, thanks partly to the significant savings in their commissions.
If you want to learn more about Fathom Realty and its new CAP4 LIFE referral program, please visit www.FathomCareers.com.
Julie is the Vice President of Marketing for Fathom Holdings Inc. (Nasdaq: FTHM) a national, technology-driven, real estate services platform integrating residential brokerage, mortgage, title, insurance, and SaaS offerings to brokerages and agents by leveraging its proprietary cloud-based software, intelliAgent.
Julie is an international award-winning marketer who has spent her career helping organizations and brands grow their business. You can reach Julie at [email protected].