Fathom Realty Introduces New Agent Referral Program

Rhea-AI Summary

Fathom Holdings Inc. (Nasdaq: FTHM) announced an expanded agent referral program designed to enhance its growing network. Agents will receive $500 in stock grants for each referred agent, increasing to $1,000 for the second through fifth referrals, $1,500 for the sixth through tenth, and $2,000 for eleven or more. This initiative builds upon the previous year’s program and aims to reward existing agents while driving more referrals. Fathom Realty, with over 5,000 agents across 27 states, leverages a cloud-based platform to support its business model.

Positive

• Expanded agent referral program could attract more agents, enhancing growth.
• Agents rewarded with stock grants, incentivizing referrals and loyalty.
• Proprietary cloud-based technologies offer competitive advantages and cost savings.

Negative

• None.

CARY, N.C., Feb. 25, 2021 /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 it has introduced a new and expanded agent referral program, as the company continues to grow its agent network.

The new program builds off Fathom's 2020 program, giving agents $500 in Fathom stock grants for each referred agent who joins the company. The new program encourages additional referrals, offering $1,000 in stock grants for the second through fifth agent referral; $1,500 for the sixth through tenth agent referral; and $2,000 per agent for eleven referrals or more. The stock grants have three-year vesting periods.

"We want to reward our agents for their contributions to our growth, while encouraging them to help us grow even faster," said Josh Harley, Chairman and CEO of Fathom Holdings. "With positive Fathom agent reviews on sites like Glassdoor and Facebook, our company has benefited from high referral rates.

"Referrals have represented a large percentage of our agent growth historically, and we believe this expanded program will encourage even more agents to share Fathom, its culture, and all of its benefits with others. Referrals are our greatest compliment, and we also want to say, 'thank you' as a way to express our gratitude," Harley added.

Fathom offers its agents distinct competitive advantages through its proprietary cloud-based platform-as-a-service model, intelliAgent, which allows them to operate virtually and provides all of the major functions that they would otherwise receive from a traditional brick-and-mortar company. Fathom agents are charged a fixed fee per transaction, rather than the industry's typical large commission splits, helping them reinvest in their businesses and earn more money.

Fathom currently has more than 5,000 agents in 27 states. For more information about joining Fathom as an agent, visit www.fathomcareers.com.

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 increasing the number of Fathom 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; reliance on key personnel; risks associated with making and integrating acquisitions; 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 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 Fathom Holdings' new agent referral program as of February 2021?

Fathom Holdings introduced an expanded agent referral program offering stock grants for referrals, incentivizing agents to attract new talent.

How much stock can agents earn through the new referral program?

Agents can earn up to $2,000 in stock grants per referred agent, depending on the number of referrals.

How many agents does Fathom currently have?

Fathom currently has over 5,000 agents operating in 27 states.

What is the stock symbol for Fathom Holdings?

Fathom Holdings is traded under the stock symbol FTHM.

What business model does Fathom Realty use?

Fathom Realty operates a cloud-based, technology-driven model providing agents with a platform-as-a-service.