Fathom Holdings Completes Epic Realty Acquisition

Rhea-AI Summary

Fathom Holdings Inc. (Nasdaq: FTHM) has successfully acquired Epic Realty, a regional brokerage based in Meridian, Idaho, which has over 350 agents. The acquisition enhances Fathom's market presence, placing it as the third-largest broker in Idaho. CEO Joshua Harley highlighted that the company has added over 500 agents across two markets in the last four months. Fathom aims to operate in all 50 states and leverages its cloud-based software, intelliAgent, to support agents in growing their businesses while enjoying higher incomes due to commission savings.

Positive

• Acquisition of Epic Realty enhances Fathom's market position in Idaho.
• Fathom now operates in over 30 states, progressing towards nationwide coverage.
• Integration of Epic Realty increases the company’s agent base significantly.

Negative

• None.

CARY, N.C., July 1, 2021 /PRNewswire/ -- Fathom Holdings Inc. (Nasdaq: FTHM), 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 that through its wholly-owned subsidiary, Fathom Realty Holdings, LLC, it has completed the acquisition of Epic Realty.  Terms of the transaction were not disclosed. 

Based in Meridian, Idaho, near Boise, Epic is a fast-growing regional brokerage with more than 350 agents, providing full-service residential real estate services for buyers and sellers.  Epic is being re-branded under the Fathom name.

"This acquisition clearly demonstrates our ability to add growing and profitable brokerage operations to Fathom," said Fathom CEO Joshua Harley.  "In addition to expanding our footprint organically, we have acquired more than 500 agents in two dynamic and growing markets in the last four months alone.  With Epic, we now have the third largest market position in Idaho, solidifying our strategy and objective of occupying the first, second or third spots in the states in which we operate.

"We now have operations in more than 30 states and are well on our way to meeting our goal of operating in all 50 states, as we methodically and strategically add new markets by identifying excellent leaders and/or acquiring profitable brokerages and teams that exemplify our culture of service and putting agents in charge of their own businesses.  Through our proprietary cloud-based software, intelliAgent, and our vertically integrated platform that now includes mortgage, title, insurance and SaaS offerings, we plan to continue helping all our agents grow their businesses, while enjoying higher incomes through significant savings on their commissions."

Epic co-founders Chad McCloud and Sheridan Hodson said, "We couldn't be more excited to join the Fathom family and fly the Fathom flag, which is rapidly becoming one of the nation's leading brands.  With an agent-centric focus, best-in-class technology that makes agents' jobs easier and more profitable, and related services that make the home buying and selling process better for consumers, we now have an even better value proposition for our current agents and those we expect to attract, as we continue to grow throughout our great state."

McCloud and Hodson will manage Fathom's day-to-day brokerage operations in Idaho.

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, Real Results, and Verus Title.  For more information, visit www.fathomrealty.com. 

Cautionary Note Concerning Forward-Looking Statements
This press release contains "forward-looking statements," including, but not limited to, additional planned geographic expansion.  Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including: risks associated with making and integrating acquisitions; technology risks; risks in effectively managing rapid growth in our business; reliance on key personnel; 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 Relations and Media Contacts:

Roger Pondel/Laurie Berman
PondelWilkinson Inc.
investorrelations@fathomrealty.com
(310) 279-5980

Marco Fregenal
President and CFO
Fathom Holdings Inc.
investorrelations@fathomrealty.com
(888) 455-6040

 

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SOURCE Fathom Realty

FAQ

What is the significance of Fathom Holdings' acquisition of Epic Realty?

The acquisition strengthens Fathom's market position in Idaho, making it the third-largest brokerage in the state.

How many agents did Fathom Holdings acquire with the purchase of Epic Realty?

Fathom Holdings acquired over 350 agents from Epic Realty through this transaction.

What is Fathom Holdings' goal regarding state operations?

Fathom aims to operate in all 50 states and is expanding its footprint strategically by acquiring profitable brokerages.

What technology does Fathom Holdings use to support its agents?

Fathom employs a proprietary cloud-based software called intelliAgent to aid its agents in managing their businesses.