Fathom Holdings is deepening its Western presence and doubling down on first-time homebuyers with its acquisition of Colorado-based START Real Estate.
The deal provides 70 brokers and a first-time purchaser program that not too long ago entered Utah, bolstering Fathom’s community following its purchases of Arizona’s My Home Group and Texas-based Elite Financing Group.
“START Real Estate’s development and excessive mortgage connect fee are an ideal match with our technique to extend agent productiveness and margins,” mentioned CEO Marco Fregenal.
Fathom, headquartered in North Carolina, selected START particularly for its first-time homebuyer program. START, which not too long ago expanded to Utah, has a confirmed mannequin for guiding first-time patrons by the homeownership course of, the discharge mentioned.
Fathom expects the first-time purchaser program to increase to new markets throughout the nation, aided by its proprietary intelliAgent platform, built-in mortgage and title companies.
Fathom’s roughly 15,000 brokers function in 43 states and Washington D.C. START’s 70 brokers are anticipated to shut about 400 transactions this 12 months with a mortgage connect fee of greater than 70%.
A major variety of START brokers are additionally anticipated to affix Fathom’s Elevate teaching program, a concierge-level service. Launched in April, this system is designed to assist actual property brokers scale by advertising and marketing, lead technology, transaction help and recruiting help, the corporate mentioned in an earlier launch.
“With a lot of START Real Estate’s brokers anticipated to affix Elevate, this acquisition not solely enhances our capacity to serve a essential section of the market, but in addition strengthens our platform with new recurring, high-margin alternatives that help long-term worthwhile development,” Fregenal mentioned.
