Fathom vs Real vs LPT: Public Facts Side by Side
Short answer. Fathom Realty, Real Brokerage and LPT Realty are often grouped as lower fee, cloud style brokerages. Each publishes different details. Fathom and Real list fees in SEC filings. LPT lists none on its site. This page sets the public facts side by side, with questions to ask each company. It does not pick a winner.
The short version
New agents often compare these three brokerages because all three describe lower fees and a revenue share program. They are not the same company, and they publish different amounts of detail.
We do not give an opinion on any of them. We use SEC filings and company pages, and we label each fact with its source and check date. The Bauer Group is also a brokerage, so we compete with all three. Read with that in mind.
Education only, not legal, tax or financial advice. Confirm licensing rules with TREC.
Side by side
We checked these rows on October 14, 2026. Fathom and Real rows come from their annual filings. LPT rows come from its website and one news article. Nothing here is our estimate.
| Topic | Fathom Realty | Real Brokerage | LPT Realty |
|---|---|---|---|
| Type of company | Public. Fathom Holdings Inc. | Public. The Real Brokerage Inc. | Private. No SEC filings found |
| Headquarters | Cary, North Carolina | Miami, Florida | Lake Mary, Florida (company website) |
| Agents | The 10-K says "approximately 14,135 agent licenses" as of December 31, 2025 | The form says 31,739 real estate agents at December 31, 2025 | Reported as nearly 15,000 as of 2024 (Real Estate News, Nov 5, 2025) |
| Texas | Texas is on its list of states | The form says Real began operations in Texas in 2014 | Website links Texas TREC brokerage service notices |
| Fees as published | Per transaction fee with a yearly cap, or a percentage fee with a higher cap, plus an annual fee, per the 10-K | A set share of each commission with a yearly cap, then per transaction fees, per the annual information form | No fees listed on the website we checked |
| Revenue share | Described in the 10-K | Described in the annual information form | Reported as tied to one of its two plans |
Where the fee details are
Exact amounts are in the profile pages, each with its source. Read them there rather than relying on a summary.
How to use this page
Start with the table. Pick the rows that matter most to you, such as cost in year one or who answers questions. Then open the profile for each company and read the source it cites.
Next, call or write to each company with the same questions. Keep their answers in one place so you can compare them later. If an answer is vague, ask again and ask for it in writing. A clear written answer is worth more than a verbal one.
Last, talk to agents in your own market. Ask what the first year was like and what they would ask differently today.
A change to know about
A filing dated August 24, 2026 says Real Brokerage merged with RE/MAX Holdings and names the new parent as Real REMAX Group Inc. The filing we read does not say what changes for agents. Ask for current written terms.
What agents and reviewers say
Review data was limited when this page was written. We could not load a public review source that allows reading, so we are not reporting review counts, scores or quotes. We will not guess what agents think.
To hear from real agents, ask each company for two or three agents in your market who joined in the last year. Ask each what surprised them.
How this type of brokerage works
All three are usually grouped with lower fee or cloud brokerages. Agents often work from home with online tools and keep more of each commission up to a yearly cap. Features vary by company, so check each one.
In a revenue share program, an agent who brings other agents to the company may earn a share of what the company keeps from those agents' sales. The company sets the terms. Read them in writing.
Our guide on types of brokerages and their trade-offs compares this model with others.
Questions to ask each company
These are our planning questions, not TREC rules. Ask all three the same ones.
- What is every fee I would pay in my first year, and when is each due?
- What happens after I reach the yearly cap?
- Who answers my Texas contract questions, and how fast?
- Who is my sponsoring broker, and how do I reach them?
- Are leads included, and if not, what does the company provide?
- How does revenue share work, and what do I owe to join it?
- What training is there in my first 90 days?
- What happens to my deals if I leave?
A side by side worksheet
Fill in this table for each of the three and for any other brokerage on your list. Use written answers from the company. This is our own planning tool, not a TREC form.
| Question | Fathom | Real | LPT |
|---|---|---|---|
| Every fee I would pay in year one | |||
| Yearly cap and what happens after it | |||
| Who my sponsoring broker is | |||
| How revenue share works and what it costs to join | |||
| Training in my first 90 days | |||
| Who answers Texas contract questions | |||
| What happens to my deals if I leave |
Why the numbers are not comparable one to one
Each company counts agents in its own way. Fathom reports agent licenses. Real reports affiliated real estate agents. LPT has no filing, so its count is a news report from a year earlier. Do not treat the three counts as the same measure.
Fee plans also differ in shape. One plan may charge a fee per deal. Another may charge a share of each commission. A yearly fee may sit on top. Add up your own expected deals and ask each company to show your total cost in writing.
How we wrote this
Sources: Fathom Holdings and Real Brokerage filings on SEC EDGAR, the LPT Realty website and Real Estate News (Nov 5, 2025), all checked October 14, 2026. We left out any fee we could not read from the company itself.
Experiences vary by office and team. If you see an error, write to agents@joinbauergroup.com. We apply corrections within 2 business days.
Comparing options?
Ask any brokerage the same questions. Our guides on choosing a brokerage in Texas and what a sponsoring broker does can help you set up your list.
Common questions
Are Fathom, Real and LPT the same kind of brokerage?
They are often grouped together as lower fee, cloud style brokerages with revenue share programs. Each company sets its own terms.
Which one publishes its fees?
Fathom and Real list fee terms in SEC filings. The LPT Realty website we checked lists none.
Do all three operate in Texas?
Fathom lists Texas among its states. Real says it began operations in Texas in 2014. LPT links Texas TREC notices on its website.
What is a revenue share program?
It lets an agent who brings other agents to a company earn part of what the company keeps from their sales. Terms are set by each company.
Which should a new agent choose?
We do not rank brokerages. Compare written fee terms, support and who your sponsoring broker is.
Sources
- Fathom Holdings Form 10-K for 2025, SEC EDGAR (checked October 14, 2026)
- The Real Brokerage Inc. filings, SEC EDGAR (checked October 14, 2026)
- LPT Realty website (checked October 14, 2026)
Education only. Not legal, tax or financial advice. Confirm licensing rules with the Texas Real Estate Commission. Results vary and depend on effort, market and lead performance.