Fathom Holdings Enters Michigan Market

Rhea-AI Summary

Fathom Holdings Inc. (NASDAQ: FTHM) announced its entry into the Michigan market, now operating in 27 states and 113 local markets. With a new license, Fathom will focus on 17 communities, including major cities like Dearborn and Livonia. The company appointed Kay Ready as Southeast Michigan District Director, bringing over 25 years of sales experience. The CEO, Joshua Harley, emphasized that this expansion aligns with the company's goals and is expected to capitalize on Michigan's anticipated population growth and housing demand.

Positive

• Expansion into the Michigan market enhances geographic footprint.
• Strong focus on populous communities could drive growth.
• Appointment of a seasoned District Director adds expertise to local operations.

Negative

• None.

CARY, N.C., Dec. 17, 2020 /PRNewswire/ -- Fathom Holdings Inc. (NASDAQ: FTHM), a holding company that primarily operates through its wholly owned subsidiary, Fathom Realty, LLC, a national, cloud-based, technology-driven, residential real estate brokerage, today announced that it has entered the Michigan market. The company now operates in 27 states and 113 local markets.

With a newly obtained license to operate in Michigan, Fathom initially is focusing on 17 communities, comprising five of the most populous cities in the state, including Dearborn, Livonia and Farmington Hills.

Fathom also announced it has hired Kay Ready as its Southeast Michigan District Director. Ready has more than 25 years of sales experience, including eight years in residential real estate. Earlier in her career, she was a District Sales Manager at Avon. As a manager, Ready uses her expertise to educate agents on how to transform their lives by building relationships, realizing their value, elevating their thinking, and living purposefully.  

"Entering Michigan brings us another step closer to our goal of serving every state in the country," said Fathom CEO, Joshua Harley. "Expected growth in Michigan's population over the next five years should contribute to continued increased housing demand in the state.  We're excited to have Kay leading the charge, and we welcome her to the Fathom family.

"Our ability to enter new markets efficiently gives us a strong platform for geographic expansion.   We plan to continue identifying new markets, while also using our unique commission structure and strong culture to recruit new agents and residential real estate brokerage firms. Our team is successfully executing our long-term plan, and we believe we remain on the right track to deliver increasing value to all of our stakeholders," Harley added.

About Fathom Holdings Inc.

Fathom Holdings Inc. is the parent company of Fathom Realty Holdings, LLC, a national, virtual, full-service real estate brokerage that leverages proprietary cloud-based software called IntelliAgent to operate a Platform as a Service model (PaaS) for the residential real estate industry.  Fathom offers real estate professionals 100% commission, small flat-fee transaction costs, support, technology, and training, all powered by best in class operational efficiencies. 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, geographic growth and the ability to deliver increasing value to all of the Company's stakeholders.  No assurance can be given that the Company will grow geographically or be able to attract new agents.  Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including: risks in effectively managing rapid growth in our business; risks associated with making and integrating acquisitions; reliance on key personnel; technology risks; competitive risks; and the others set forth in the Risk Factors section of the Company's registration statement for its initial public offering filed with the SEC.  Copies 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

 

 

 

View original content to download multimedia:http://www.prnewswire.com/news-releases/fathom-holdings-enters-michigan-market-301194751.html

SOURCE Fathom Realty

FAQ

What markets has Fathom Holdings recently entered?

Fathom Holdings has recently entered the Michigan market.

What is the significance of Fathom's expansion into Michigan for investors?

The expansion into Michigan represents a growth opportunity that could increase housing demand and stakeholder value.

Who has been appointed as the District Director for Southeast Michigan?

Kay Ready has been appointed as the Southeast Michigan District Director.

How many states does Fathom Holdings operate in now?

Fathom Holdings now operates in 27 states.

What cities in Michigan is Fathom focusing on?

Fathom is focusing on 17 communities, including Dearborn, Livonia, and Farmington Hills.