"In the third quarter, we continued to build on the momentum achieved in the first half of the year, Fathom CEO Marco Fregenal said. Despite a challenging housing market, we delivered year-over-year revenue growth and achieved adjusted EBITDA profitability. We also expanded our agent base and advanced multiple initiatives across our platform. Ancillary services again played a central role in the company's growth plans led by 29% year-over-year growth in title revenue. The company highlighted momentum within Elevate, its productivity-focused agent program. Elevate continues to scale, with over 165 agents onboarded and another 45 in the pipeline, Fregenal said."
"Elevate remains one of our most exciting initiatives, providing agents with greater time and support to close more transactions while driving higher productivity, retention and profitability for both our agents and the company. During the quarter, Fathom strengthened its training and onboarding capabilities through a partnership with leadership expert J'aime Nowak and added 70 new Elevate agents. Agent licenses across the company totaled roughly 15,371 at the end of September."
"Expansion efforts remained a priority with Verus Title entering Arizona and Alabama. That move brought its total footprint to 34 states as well as the District of Columbia. In October, Fathom acquired START Real Estate gaining about 70 agents and a first-time homebuyer program that the company plans to scale nationally. By integrating START Real Estate's first-time homebuyer model with Fathom's proprietary technology, we aim to accelerate growth in one of the most underserved segments of the housing market, Fregenal said."
Fathom delivered year-over-year revenue growth and achieved adjusted EBITDA profitability in the third quarter despite a challenging housing market. The company expanded its agent base, bringing total agent licenses to roughly 15,371 by the end of September, and continued to scale its Elevate productivity-focused agent program with over 165 onboarded and 45 in the pipeline. Title revenue grew 29% year over year, and Verus Title expanded into Arizona and Alabama, reaching 34 states plus D.C. In October, Fathom acquired START Real Estate, adding about 70 agents and a first-time homebuyer program for national scaling. Strategies remain focused on agent attraction, productivity, attachment rates and technology-driven innovation.
Read at www.housingwire.com
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