CARY,
N.C., Nov. 27, 2023 /PRNewswire/ -- Fathom
Realty, a wholly owned subsidiary of Fathom Holdings Inc.
(Nasdaq: FTHM) ("Fathom" or the "Company"), a national,
technology-driven, end-to-end real estate services platform
integrating residential brokerage, mortgage, title, insurance, and
SaaS offerings for brokerages and agents, today announced a
revision to its real estate agent fee structure, effective
January 1, 2024.
"Fathom Realty offers one of the best industry commission
structures that recognizes our agents' hard work and dedication
while providing them with the necessary resources to excel,"
explained Marco Fregenal, Fathom's Chief Executive Officer. "We
believe that this small increase to agent fees will have a minimal
impact on our agents, while helping Fathom achieve our objectives
and provide our agents with an ever-improving agent offering. We
expect this change to add an estimated $3.1
million in EBITDA for 2024."
The revision to Fathom Realty's agent fee structure includes two
changes. The first is an increase of the agent's annual fee which
is charged on an agent's first transaction of each anniversary
year. The fee will increase from $600
to $700.
The second change includes a new fee which affects sales of
properties for over $600,000 and will
be in addition to the agent's transaction fee of $550. This new 'High-Value Property Fee' will
consist of an additional $200 on
properties priced between $600,000
and $999,999. Then, there will be an
additional fee of $250 charged for
each $500,000 over a $1,000,000 property price.
Samantha Giuggio, Fathom Realty's
Chief Operations Officer added, "We remain committed to providing
the highest level of support and resources for our agents, and as
the real estate industry evolves, we will continue looking for new
ways to help our agents achieve their best. This change is designed
to help us accomplish exactly that."
About Fathom Holdings Inc.
Fathom Holdings Inc. is 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. The Company's
brands include Fathom Realty, Dagley Insurance, Encompass Lending,
intelliAgent, LiveBy, Real Results, and Verus Title. For more
information, visit www.FathomInc.com.
Cautionary Note Concerning Forward-Looking
Statements
This press release contains "forward-looking
statements," including, but not limited to, the company's ability
to significantly bring more mortgage business to its loan officers.
Forward-looking statements are subject to numerous conditions, many
of which are beyond the control of the Company, including: reliance
on key personnel; risks related to acquisitions; risks related to
general economic and real estate industry conditions, including
interest rates and litigation; risks in effectively managing rapid
growth in our business; competitive risks; and the other risk
factors set forth from time to time in our SEC filings, copies of
which are available on the SEC's website, www.sec.gov. The Company
undertakes no obligation to update these statements for revisions
or changes after the date of this release, except as required by
law.
Investor Contact:
Alex
Kovtun and Matt Glover
Gateway Group, Inc.
949-574-3860
FTHM@gateway-grp.com
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SOURCE Fathom Realty