100% commission brokerage

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The best 100% commission real estate brokerages let you keep your entire commission and pay the brokerage a flat fee instead of handing over 20–50% of every check. For a producing agent, that can mean thousands more per closing. But here’s what the recruiting pitch won’t tell you: “the best” depends entirely on how many deals you close — and some brokerages marketed as “100% commission” aren’t actually 100% for you until you’ve paid them a hefty annual cap first.

This guide cuts through that. It compares the major national options honestly, by model, real fees, and who each one actually fits. (It’s the commission-model deep-dive; for the broader picture of choosing a brokerage — support, culture, post-settlement changes — see our best brokerages to join guide.)

Why the 100% Model — and the Catch Nobody Mentions

At a traditional brokerage, you split every commission — often 70/30, sometimes as bad as 50/50. Close a $30,000 commission on an 80/20 split and $6,000 vanishes before you see a cent. The 100% model flips that: you pay the brokerage a flat fee per deal (and some monthly/tech fees) and keep the rest. For an agent doing real volume, that math is transformative.

Here’s the catch that trips people up. There are actually two very different “100%” models:

• True flat-fee (100% from deal one): you keep the full commission on your very first closing, paying only a flat per-transaction fee. HomeSmart and Realty ONE Group work this way.
• Capped split (100% only after you cap): you start on an 80/20 or 85/15 split and keep 100% only once you’ve paid the brokerage a fixed annual cap — often $12,000–$16,000. eXp Realty and Real Broker work this way.

So if you close two deals a year, a capped-split brokerage is nowhere near 100% for you — you’ll never hit the cap. Close thirty, and it effectively is (plus you often pick up stock and revenue share along the way). The right brokerage is a function of your volume, which is exactly what the criteria and framing below are built around.

How We Compared These Brokerages — The 5 Criteria

1. The model. True flat-fee (100% from day one), capped split (100% after a cap), or pick-a-plan — this is the single biggest factor.
2. The real fees. Flat per-transaction fee, monthly/desk/tech fees, E&O insurance per closing, and onboarding — the costs that replace the split.
3. The cap (if any). For capped brokerages, how much you pay before you reach 100% retention.
4. Support & tech. Virtual-only or physical offices, and how much mentorship you get — which matters a lot for newer agents.
5. Wealth-building extras. Revenue share, stock awards, and coworking access that go beyond the commission itself.

The Brokerages at a Glance

Pick by Your Deal Volume

• Lower volume (a handful of deals a year): a true flat-fee brokerage (HomeSmart, Realty ONE Group) — you keep 100% from your very first closing, no cap to chase.
• Higher volume (enough to cap out): a capped-split brokerage (eXp, Real Broker) — you’ll hit the cap, keep 100% after, and collect stock and revenue share on top.
• Want to choose or hedge: a pick-a-plan brokerage (Fathom, LPT) — start on whichever plan fits your current volume and switch as you grow.

True Flat-Fee: 100% From Day One

If you don’t do enough volume to chase a cap — or you just want the simplicity of keeping your whole check from your first closing — start here. These two are true 100% commission: a flat fee per deal, no percentage split, ever.

HomeSmart — 100% With Real Support

HomeSmart is one of the nation’s largest true 100% commission brokerages, and its pitch is that you don’t have to trade support to keep your commission. You pay a flat fee per transaction — no split from your very first closing — while still getting state-of-the-art offices, a solid transaction platform, a big library of customizable marketing assets, and a managing broker who’s a phone call away. Agents consistently mention that not paying a split let them reinvest in their business and hit goals faster, and that new agents get real day-one support rather than being thrown in the deep end.

The honest trade-offs: HomeSmart offices are independently owned and operated franchises, so the exact fees, culture, and quality vary by location — you’re really evaluating your local branch. And because you pay flat and monthly fees regardless of production, it shines for agents doing steady volume, not someone closing one deal a year. It also offers less of the stock-and-revenue-share wealth-building that the capped-split brokerages lean on.

HomeSmart

Best for: Agents who want true 100% commission from day one plus offices, tech, and broker support — new and experienced alike.

NOT for: Very-low-volume agents (monthly fees still apply) or those chasing revenue share and stock upside.

Realty ONE Group — 100% With an Office and a Brand

Realty ONE Group runs the same true flat-fee model — you keep 100% from your first deal — but leans hardest into physical presence and culture. It maintains staffed brick-and-mortar offices in many metro areas, so you get a real place to meet clients and a recognizable brand behind you, wrapped in its well-known “coolture.” For an agent who wants the freedom of 100% commission without going fully virtual, that office footprint and identity are the draw.

The trade-offs mirror HomeSmart’s: it’s a franchise, so your experience depends heavily on the local office, monthly/desk fees apply whatever your volume, and the wealth-building extras are lighter than eXp’s or Real’s. You’re paying for office access and brand, so it’s worth it if you’ll actually use them.

Realty ONE Group

Best for: Agents who want true 100% commission plus a physical office and an established brand and culture.

NOT for: Agents happy going fully virtual to cut every fee, or those prioritizing stock/revenue-share upside.

Bottom line: both hand you 100% from deal one, so the choice comes down to your local franchise, how much you value office space and brand, and the tech that comes with it. These are the smart pick for lower-volume or support-minded agents who don’t want to chase a cap. But if you close enough to cap out, the next two brokerages add stock and revenue share that flat-fee shops don’t — which is where volume changes the answer.

Capped-Split: 100% After You Cap (Plus Stock & Revenue Share)

These two are what most people picture when they hear “eXp” or “Real” — cloud-based, agent-owned, wealth-building brokerages. You don’t keep 100% on day one; you split until you hit a cap, then keep everything for the rest of your year. The trade is that you also earn stock and revenue share along the way, which flat-fee brokerages don’t offer.

eXp Realty — The Cloud Giant

eXp is the brokerage that popularized the cloud model, and its scale is the point. You’re on an 80/20 split with a $16,000 annual cap, after which you keep 100% (minus a transaction fee) for the rest of your anniversary year. Everything runs virtually through eXp World, which is how they keep fees low — and they’ve added a hybrid layer, giving agents access to thousands of Regus coworking lounges worldwide for client meetings. The real magnet is the wealth-building: revenue share for agents you sponsor into the brokerage, and stock awards (including up to ~$16,000 for ICON agents who hit production and cultural milestones). For a producing agent who wants to build income beyond their own deals, that combination is genuinely powerful.

The honest trade-offs: at $16,000, eXp has the highest cap of these two, so lower-volume agents pay more before reaching 100%. It’s fully virtual, which not everyone loves. And the revenue-share model draws heavy recruiting energy — great if you want to build a downline, noise if you just want to sell houses.

eXp Realty

Best for: Established, higher-volume agents who want a cloud brokerage with revenue share, stock, and massive scale.

NOT for: Low-volume agents (the $16k cap stings) or anyone who wants a physical home office and no recruiting culture.

Real Broker — The Lower-Cap Modern Challenger

Real Broker (REAL) offers a very similar cloud-based, revenue-share-plus-stock model but sharpens the numbers: an 85/15 split with a lower $12,000 cap. That lower cap makes it, by several head-to-head cost comparisons, the most affordable of the major cap-based brokerages for an agent doing meaningful volume — you reach 100% retention sooner and pay less to get there. It pairs that with a polished, modern app and tech stack that agents rate highly, plus the same revenue-share and stock upside that makes these brokerages attractive for long-term wealth-building.

The trade-offs are the capped-model basics: you still don’t keep 100% until you cap, so it’s not ideal for very low volume, and it’s fully virtual with less brand recognition than eXp (though it’s grown fast). For a tech-forward agent who wants the cap-and-keep model at the lowest cost, it’s a strong pick.

Real Broker

Best for: Producing agents who want the capped-split model at the lowest cap, with modern tech, revenue share, and stock.

NOT for: Low-volume agents who won’t cap, or those who want a physical office and big-brand recognition.

Bottom line: Real Broker usually wins on pure cost thanks to its lower $12k cap; eXp wins on scale, brand, and its established revenue-share ecosystem. Both only become “100% commission” once you cap — so they pay off for agents with the volume to get there, and add stock and revenue share that the flat-fee brokerages simply don’t.

Pick-a-Plan: Choose Your Own Model (Fathom & LPT)

Can’t decide between flat-fee and capped-split? These two let you pick — start on whichever plan fits your current volume, and switch as you grow. It’s the flexible middle ground.

Fathom Realty — Low Cap, Local Support

Fathom is a standout for agents who want a genuinely low cap and a real human broker nearby. Its share plan runs a 7% split with just a $9,000 annual cap, after which you pay a flat $165 per transaction — one of the lowest caps in the industry — and there’s a flat-fee plan option too. What sets it apart from the pure-cloud brokerages is that Fathom operates local market centers with managing brokers, so you get in-person support and mentorship while still keeping most of your commission. Add revenue share, no annual membership fees, an all-inclusive tech platform, and even health-group access, and it’s a lot of value for the money.

The trade-offs: it’s a split model until you cap (so very-low-volume agents don’t reach 100%), and its brand and tech, while solid, don’t carry eXp’s scale or Real’s polish. But for the cost-plus-support balance, it’s hard to beat.

Fathom Realty

Best for: Agents who want a low cap, revenue share, and actual local broker support rather than a purely virtual experience.

NOT for: Agents who want a big national brand or the largest revenue-share ecosystem.

LPT Realty — Flexibility Plus Stock

LPT Realty‘s whole pitch is choice: you pick either a flat-fee plan (keep 100%, pay per transaction) or a traditional split with a cap, depending on your volume and preference. On top of that, it layers in stock awards — hit production milestones and you earn shares (its Gold Award grants 1,400 shares), giving you equity upside alongside your commissions. For an agent who wants to control their own cost structure and build a little ownership, that combination is appealing, and cost comparisons show it can be very competitive at higher production levels once the stock is counted.

The trade-offs: it’s newer and less established than the others, so brand recognition is lower, and — as with every pick-a-plan brokerage — you have to actually run your numbers to choose the right plan, or you’ll leave money on the table.

LPT Realty

Best for: Agents who want to choose their own commission plan and pick up stock awards as they produce.

NOT for: Agents who want a long-established brand or don’t want to think through which plan fits them.

The Fee Fine Print: What “100%” Actually Costs

“100% commission” never means free. Before you sign anywhere, add up all the fees that replace the split, because they’re where brokerages make their money:

• Flat per-transaction fee — charged on every closing (this is the main one).
• Monthly / desk / technology fees — you pay these whether or not you close a deal.
• E&O insurance — a per-closing fee (~$30–50) that often carries an annual cap (eXp caps E&O at $500, for example).
• One-time onboarding fee — and, at franchise brokerages like HomeSmart and Realty ONE Group, possible franchise fees that vary by location.

The only honest way to compare is to run your own numbers at your real deal volume: total every annual fee under each brokerage and set it against what a traditional split would cost you. A flat-fee brokerage can actually cost more than a capped split if you barely close any deals — and far less if you produce. This flat-fee, agent-first wave is only accelerating, too: the 2024 NAR settlement pushed the whole industry toward more transparent, negotiable, alternative commission models — so expect even more options.

A Word for New Agents

Here’s the honest caution the recruiters skip: 100% commission usually means less hand-holding. The fully virtual brokerages (eXp, Real) give you freedom and low fees but expect you to already know how to run your business. If you’re brand new and still learning how to price a listing or work a contract, keeping 100% of zero deals is worse than keeping 70% of deals you actually closed with a mentor’s help. Either choose a 100% brokerage with genuine support built in (HomeSmart’s brokers, Fathom’s market centers), or get your footing at a more traditional shop first — then switch to 100% once you can stand on your own.

The Verdict: Which 100% Commission Brokerage Should You Choose?

There’s no single best 100% commission real estate brokerage — there’s the one that matches your deal volume and how much support you need. Here’s the field matched to you:

For most agents, it comes down to volume: true flat-fee (HomeSmart, Realty ONE) if you close a handful of deals a year, capped-split (Real Broker, eXp) if you produce enough to cap out and want stock and revenue share.

Save This: The 100% Commission Break-Even Formula

Don’t take any brokerage’s “100%” pitch at face value — run this quick calculation with your own numbers before you sign:

Step 1 — Estimate your annual gross commission income (GCI). (Your average commission × deals per year.)

Step 2 — Calculate your all-in cost at each brokerage:

Step 3 — Compare, and mind the break-even:

• If you close few deals, the true flat-fee model usually wins — you keep 100% immediately, and low volume means low total fees.
• If you close enough to hit the cap, the capped-split model wins — you pay a fixed amount, keep 100% after, and collect stock and revenue share.
• The tipping point is roughly wherever your capped-split cap equals your flat-fee total for the year. Below it, go flat-fee; above it, capping pays.

The one-line rule: a brokerage is only “100% commission” for you if you’ll actually reach its 100% tier. Match the model to your real production, not the recruiting pitch.

The Bottom Line

100% commission brokerages can put thousands more in your pocket per deal — but only if you pick the right kind. Choose true flat-fee (HomeSmart, Realty ONE Group) if you keep your volume modest and want 100% from your first closing. Choose capped-split (Real Broker for the lowest cap, eXp for scale) if you produce enough to cap and want stock and revenue share on top. And whatever the pitch says, add up every fee, run your break-even, and — if you’re new — make sure you’re not trading away the support you still need.

What to Read Next

Choose the right home for your business:

• Best Real Estate Brokerages to Join (2026) — the full brokerage picture: splits, culture, support, and post-settlement reality.
• Best Real Estate CRM (2026) — the system to run your business once you own more of it.
• Best Real Estate Coaching for New Agents (2026) — the support a 100% brokerage may not give you.
• Best Pay-at-Closing Real Estate Leads (2026) — fill your pipeline with no upfront cost.
• Best Real Estate Transaction Management Software (2026) — run your deals smoothly, wherever you hang your license.