Residential brokerages and agent platforms
Six brokerages profiled from their SEC filings, and four private firms listed with what their own sites say. The angle: what the filings show about who each model is built for, now that 2025–2026 deals have merged most of the big names.
Last updated: 2026-10-20
Alphabetical, not ranked.
Residential firms are listed unscored. Our published rubric was written for commercial service firms and software, and we have not published how it applies to residential brokerages. Firms are listed alphabetically, not ranked. See methodology.
What the filings reveal
- Four deals in about a year. Rocket bought Redfin (July 1, 2025). Compass bought Anywhere, owner of Coldwell Banker, Century 21, Sotheby’s International Realty, Corcoran, ERA and Better Homes and Gardens Real Estate (January 9, 2026). The Real Brokerage and RE/MAX combined as Real REMAX Group (August 24, 2026). Fathom signed a merger with Neighborhood Intelligence on June 16, 2026 and terminated it on October 5, 2026. Rocket 10-K, Compass 8-K, RE/MAX 8-K, Fathom 8-K.
- Agent growth was uneven. Real’s platform grew 31% to 31,739 agents in 2025. eXp was flat at 83,060, and RE/MAX’s U.S. and Canada count fell 4.6% to 72,977. Real MD&A, AGNT 10-K, RE/MAX 10-K.
- Revenue share is a disclosed regulatory risk. eXp’s 10-K says its plan is “similar in some respects to network marketing” and that regulators have asked about it.
- “Agents” is not one number. Compass and Douglas Elliman both report “principal agents” (teams plus agents not on teams) alongside headcount: Compass about 37,000 agents and 21,190 principal agents; Douglas Elliman about 5,800 agents and 4,492 principal agents.
- Only two firms publish their agent terms in a filing: Real (85/15 to a US$12,000 cap) and Fathom (flat fees with caps). Details on the cloud and revenue-share hub.
By model
Traditional franchise
Independently owned offices license a brand and pay the franchisor fees. Splits are set by each office, so the franchisor rarely publishes them.
1 profiled · Open →Cloud and revenue-share
Few or no physical offices. Agents pay a published split or flat fee up to a cap, and some models pay agents a share of revenue from agents they recruit.
3 profiled · Open →Tech-led and company-owned
The company owns and runs its brokerages and sells its own technology as the reason to join. Splits are negotiated, not published.
3 profiled · Open →Profiled firms (alphabetical)
| Firm | Model | FY2025 revenue | Status |
|---|---|---|---|
| Compass | Tech-led and company-owned | $6,961.6M (2024: $5,629.1M) | Public (NYSE: COMP). Acquired Anywhere Real Estate on January 9, 2026. |
| Douglas Elliman | Tech-led and company-owned | $1,033.1M (2024: $995.6M) | Public (NYSE: DOUG). |
| Fathom Realty | Cloud and revenue-share | $420.5M (2024: $335.2M) | Public (Nasdaq: FTHM). Got a Nasdaq minimum bid-price notice on August 21, 2026. A merger agreement with Neighborhood Intelligence, Inc. (formerly Bed Bath & Beyond, Inc.) was terminated on October 5, 2026. |
| Real REMAX Group (Real and RE/MAX) | Cloud and revenue-share / Traditional franchise | The Real Brokerage (FY2025): revenue $1,968.4M (2024 $1,264.6M); RE/MAX Holdings (FY2025): revenue $291.6M (2024 $307.7M) | Public (ticker REAX in the SEC tickers file). Formed by combining The Real Brokerage Inc. and RE/MAX Holdings, completed August 24, 2026. |
| Redfin | Tech-led and company-owned | Not reported separately | Acquired by Rocket Companies in an all-stock deal effective July 1, 2025. No longer files its own reports. |
| eXp Realty (AGNT, Inc.) | Cloud and revenue-share | $4,772.3M (2024: $4,567.7M) | Public (ticker AGNT). Renamed from eXp World Holdings on June 10, 2026; now a Texas corporation. |
Financials are fiscal 2025, from each company’s annual filing. Corporate events are from 2026 filings. All read 2026-10-20.
Compass
Public (NYSE: COMP). Acquired Anywhere Real Estate on January 9, 2026.
The FY2025 10-K describes one company, and the business it now runs is two.
Profile and filings →Douglas Elliman
Public (NYSE: DOUG).
Fewer deals, more dollars.
Profile and filings →Fathom Realty
Public (Nasdaq: FTHM). Got a Nasdaq minimum bid-price notice on August 21, 2026. A merger agreement with Neighborhood Intelligence, Inc. (formerly Bed Bath & Beyond, Inc.) was terminated on October 5, 2026.
The only firm here that publishes flat per-transaction pricing in its 10-K.
Profile and filings →Real REMAX Group (Real and RE/MAX)
Public (ticker REAX in the SEC tickers file). Formed by combining The Real Brokerage Inc. and RE/MAX Holdings, completed August 24, 2026.
One holding company now sits on top of two opposite models: Real’s capped 85/15 split with revenue share, and RE/MAX’s franchise system, which earns fixed fees per agent.
Profile and filings →Redfin
Acquired by Rocket Companies in an all-stock deal effective July 1, 2025. No longer files its own reports.
Redfin is now one part of a mortgage company’s funnel.
Profile and filings →eXp Realty (AGNT, Inc.)
Public (ticker AGNT). Renamed from eXp World Holdings on June 10, 2026; now a Texas corporation.
The 10-K says plainly that its revenue-sharing plan “pays under a multi-tiered compensation structure similar in some respects to network marketing,” that the company has received regulator requests for information about it, and that it may have to modify the plan in some jurisdictions.
Profile and filings →Private firms we could not profile
Private firms do not file with the SEC. We list only what each firm’s own site says, and we leave out figures we could not read there.
| Firm | Model | What its own site says | Missing | Source |
|---|---|---|---|---|
| Keller Williams | Traditional franchise | Calls itself a franchise company with headquarters (KWRI) in Austin, Texas; each office is independently owned and operated. Leadership listed on its site: Gary Keller (Executive Chairman), Chris Czarnecki (CEO and President). | No agent count, financials or agent fee schedule on the pages we could read. | site · read 2026-10-20 |
| United Real Estate | Traditional franchise | Dallas, Texas address; says it has 100+ offices nationwide (self-reported); each office independently owned and operated; offers franchises. | No agent count, financials or fee schedule on its site. | site · read 2026-10-20 |
| LPT Realty | Cloud and revenue-share | Lake Mary, Florida address. Offers paths for individual agents, teams and enterprise teams, and runs the Ascend Institute training platform. Says its production claims are based on 2026 RealTrends Verified data. | Plan names, splits and caps are not shown on the pages we read; the site says the independent contractor agreement governs. | site · read 2026-10-20 |
| HomeSmart | Cloud and revenue-share | Its join page advertises “no broker splits” and asks agents to request the commission plans and fees for their area. | Fee amounts are not published on the page; no agent count we could verify. | site · read 2026-10-20 |
Left out
Anywhere Real Estate is covered under Compass, its owner since January 2026. Real Estate One and other regional firms: no filing or official page we could verify. Keller Williams, United Real Estate, LPT Realty and HomeSmart are private and publish too little for full profiles, so they appear in the private-firm table with what their own sites say.
Comparisons
- eXp Realty (AGNT, Inc.) vs Real REMAX Group (Real and RE/MAX): two revenue-share models, one flat and one growing.
- Compass vs Douglas Elliman: company-owned brokerages at very different scales.
- Compass vs Real REMAX Group (Real and RE/MAX): the two 2026 consolidators.
Questions
Are these brokerages ranked or scored?
No. Residential firms are listed unscored. Our published rubric was written for commercial service firms and software, and we have not published how it applies to residential brokerages. Firms are listed alphabetically, not ranked. See methodology.
Where do the commission splits come from?
Only from the company’s own filings: Real’s Annual Information Form and Fathom’s 10-K, read 2026-10-20. Where a firm publishes no split, we list none.
What happened to Anywhere, RE/MAX, eXp and Redfin?
Compass completed its acquisition of Anywhere Real Estate on January 9, 2026. RE/MAX Holdings combined with The Real Brokerage under Real REMAX Group on August 24, 2026. eXp World Holdings renamed itself AGNT, Inc. on June 10, 2026. Rocket Companies acquired Redfin effective July 1, 2025.
Last verified 2026-10-20. Figures were re-read from the linked sources that day.
View changelog
- Residential section published: hub, three model sub-hubs, six firm profiles, three comparisons. All firms unscored.
Sources
- Compass, Inc., Form 10-K for FY2025 (filed 2026-02-27) · accessed 2026-10-20
- Compass, Inc., Form 8-K, completion of Anywhere merger (filed 2026-01-09) · accessed 2026-10-20
- Anywhere Real Estate Inc., Form 25-NSE (filed 2026-01-09) · accessed 2026-10-20
- SEC EDGAR XBRL company facts (revenue and net income as tagged in each annual filing) · accessed 2026-10-20
- Douglas Elliman Inc., Form 10-K for FY2025 (filed 2026-03-16) · accessed 2026-10-20
- Fathom Holdings Inc., Form 10-K for FY2025 (filed 2026-03-30) · accessed 2026-10-20
- Fathom Holdings Inc., Form 8-K, termination of NXH merger agreement (filed 2026-10-05) · accessed 2026-10-20
- Fathom Holdings Inc., Form 8-K, Nasdaq bid-price notice (filed 2026-08-25) · accessed 2026-10-20
- RE/MAX Holdings, Inc., Form 8-K, completion of mergers with Real REMAX Group (filed 2026-08-24) · accessed 2026-10-20
- Real REMAX Group Inc., Form 8-K (filed 2026-08-28) · accessed 2026-10-20
- The Real Brokerage Inc., Annual Information Form FY2025 (Exhibit 99.1 to Form 40-F) · accessed 2026-10-20
- The Real Brokerage Inc., MD&A FY2025 (Exhibit 99.3 to Form 40-F) · accessed 2026-10-20
- The Real Brokerage Inc., Form 40-F for FY2025 (filed 2026-03-04) · accessed 2026-10-20
- RE/MAX Holdings, Inc., Form 10-K for FY2025 (filed 2026-02-19) · accessed 2026-10-20
- SEC company tickers file · accessed 2026-10-20
- Rocket Companies, Inc., Form 10-K for FY2025 (filed 2026-03-02) · accessed 2026-10-20
- AGNT, Inc. (formerly eXp World Holdings), Form 10-K for FY2025 (filed 2026-02-24) · accessed 2026-10-20
- AGNT, Inc., Form 8-K, name change and Texas redomestication (filed 2026-06-11) · accessed 2026-10-20
- Keller Williams Realty International, About Us · accessed 2026-10-20
- United Real Estate, home page · accessed 2026-10-20
- LPT Realty, home page · accessed 2026-10-20
- HomeSmart, Join page · accessed 2026-10-20