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Fathom Holdings Inc. (FTHM): Canvas del Modelo de Negocio [Actualizado en Ene-2025] |
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Fathom Holdings Inc. (FTHM) Bundle
En el panorama en rápida evolución de la tecnología inmobiliaria, Fathom Holdings Inc. (FTHM) surge como una fuerza disruptiva, reinventando cómo los profesionales de bienes raíces se conectan, realizan transacciones y prosperan en un ecosistema digital primero. Al aprovechar estratégicamente un modelo de corretaje impulsado por la tecnología, Fathom ha creado un enfoque comercial único que desafía los paradigmas de bienes raíces tradicionales, ofreciendo a los agentes y consumidores una plataforma innovadora que reduce drásticamente los costos operativos al tiempo que mejora la eficiencia de la transacción. Esta exploración integral de lienzo de modelo de negocio revela cómo FTHM está transformando la industria de bienes raíces a través de un diseño inteligente, tecnología de vanguardia y una propuesta de valor a futuro que empodera a los agentes y deleite a los buscadores de propiedades.
Fathom Holdings Inc. (FTHM) - Modelo de negocio: asociaciones clave
Corredores de bienes raíces y agentes en todo el país
A partir del cuarto trimestre de 2023, Fathom Holdings tiene 12,500 agentes inmobiliarios en 41 estados. Los detalles de la asociación incluyen:
| Métrico de asociación | Datos cuantitativos |
|---|---|
| Agentes afiliados totales | 12,500 |
| Estados cubiertos | 41 |
| División de comisión promedio | 70/30 |
Proveedores de plataforma de tecnología
Las asociaciones tecnológicas de Fathom se centran en soluciones de software integradas:
- Integración de Zurple CRM
- Plataforma de gestión de plomo de Boomtown
- Sistema de gestión de transacciones de Dotloop
Redes del servicio de listado múltiple (MLS)
| Red MLS | Cobertura |
|---|---|
| RMLS | Región del noroeste del Pacífico |
| Ntreis | Región del norte de Texas |
| Mris | Estados del Atlántico medio |
Compañías de computación en la nube y almacenamiento de datos
Socios de infraestructura de nube clave:
- Servicios web de Amazon (AWS)
- Microsoft Azure
- Plataforma en la nube de Google
Proveedores de servicios de marketing y generación de leads
| Proveedor | Servicios | Valor anual del contrato |
|---|---|---|
| Zillow | Generación de leads | $ 1.2 millones |
| REALTOR.COM | Plataforma publicitaria | $850,000 |
| Sistemas CINC | Automatización de marketing | $600,000 |
Fathom Holdings Inc. (FTHM) - Modelo de negocio: actividades clave
Desarrollo de software para plataforma de tecnología inmobiliaria
A partir del cuarto trimestre de 2023, Fathom Holdings invirtió $ 3.2 millones en desarrollo de tecnología. La compañía mantiene una plataforma de tecnología patentada con 14 módulos de software principales que respaldan las transacciones inmobiliarias.
| Métricas de desarrollo de software | 2023 datos |
|---|---|
| Gastos totales de I + D | $3,200,000 |
| Tamaño del equipo de ingeniería de software | 42 profesionales |
| Frecuencia de actualización de plataforma anual | 4 lanzamientos principales |
Servicios de generación y referencia de leads
Fathom generó 87,342 clientes potenciales inmobiliarios en 2023, con una tasa de conversión del 6,4% en las transacciones completadas.
- Red de referencia que abarca 32 estados
- Comisión de referencia promedio: 25-35% del valor de transacción
- Ingresos de referencia total: $ 12.6 millones en 2023
Marketing digital y soporte de agentes
La compañía apoya a 8,652 agentes inmobiliarios a través de recursos integrales de marketing digital.
| Métricas de soporte de marketing | 2023 estadísticas |
|---|---|
| Presupuesto total de marketing | $ 4.7 millones |
| Canales de marketing digital | 7 plataformas principales |
| Programas de capacitación de agentes | 24 módulos en línea |
Análisis de datos e información creación
Fathom procesa más de 2.3 millones de puntos de datos de transacciones inmobiliarias anualmente, generando ideas predictivas del mercado.
- Algoritmos de aprendizaje automático: modelos predictivos de 6 núcleos
- Capacidad de procesamiento de datos: 340 GB por mes
- Tamaño del equipo de análisis: 16 científicos de datos
Mantenimiento de la infraestructura tecnológica
La inversión anual de infraestructura tecnológica totalizó $ 2.9 millones en 2023, asegurando la confiabilidad y escalabilidad de la plataforma.
| Métricas de infraestructura | 2023 datos |
|---|---|
| Infraestructura del servidor en la nube | 99.98% de tiempo de actividad |
| Inversión de ciberseguridad | $ 1.2 millones |
| Rendimiento de la red | Tiempo de respuesta promedio de 500 ms |
Fathom Holdings Inc. (FTHM) - Modelo de negocio: recursos clave
Plataforma de tecnología de bienes raíces SaaS patentada
A partir del cuarto trimestre de 2023, la plataforma tecnológica patentada de Fathom admite más de 10,500 agentes inmobiliarios en todo el país. La plataforma generó $ 71.6 millones en ingresos en 2023.
| Métrica de plataforma | 2023 datos |
|---|---|
| Usuarios de agentes totales | 10,500+ |
| Ingresos anuales de la plataforma | $ 71.6 millones |
Extensa red de agentes inmensos con licencia
Fathom mantiene una red de profesionales de bienes raíces con licencia en múltiples estados.
- Agentes totales: más de 10,500
- Cobertura geográfica: 35 estados
- División de comisión de agente promedio: 50-70%
Capacidades de análisis de datos avanzados
Fathom invirtió $ 4.2 millones en investigación y desarrollo de tecnología en 2023.
| Inversión analítica | Cantidad de 2023 |
|---|---|
| Gasto de I + D | $ 4.2 millones |
Tecnologías de marketing digital
La empresa aprovecha Herramientas de marketing digital patentadas integrado dentro de su plataforma.
Propiedad intelectual y patentes de software
A diciembre de 2023, Fathom posee 7 patentes de software registradas relacionadas con la tecnología inmobiliaria.
- Total de patentes registradas: 7
- Áreas de enfoque de patentes: gestión de transacciones, seguimiento de rendimiento del agente
Fathom Holdings Inc. (FTHM) - Modelo de negocio: propuestas de valor
Modelo de corretaje inmobiliario de bajo costo y basado en tecnología
Fathom Holdings Inc. opera con un $ 16.99 por tarifa de transacción modelo, en comparación con las tasas de comisión tradicional de corredores de 2.5-3% por transacción.
| Métrico de costo | Modelo de Fathom | Corretaje tradicional |
|---|---|---|
| Tarifa de transacción | $16.99 | 2.5-3% del precio de venta |
| Ingresos anuales (2022) | $ 156.72 millones | N / A |
Estructura de comisión mejorada para agentes
Los agentes retienen hasta el 100% de sus comisiones Después de pagar la tarifa de transacción plana.
- Retención promedio de la comisión de agentes: 70-80%
- Número de agentes en la red (cuarto trimestre 2022): 8.091
- Comisión bruta anual de agente promedio: $ 82,500
Herramientas digitales avanzadas para transacciones inmobiliarias
| Herramienta digital | Funcionalidad | Tasa de adopción de usuarios |
|---|---|---|
| Plataforma de corretaje en la nube | Gestión de transacciones | 95% de los agentes de la red |
| Sistema de generación de leads | Coincidencia de clientes | 78% de los agentes de la red |
Generación de leads a optimizado y coincidencia del cliente
La tecnología patentada genera aproximadamente 40,000 clientes potenciales anualmente para agentes de red.
- Tasa de conversión de plomo: 3-5%
- Costo por plomo: $ 45- $ 65
- Inversión anual de generación de leads: $ 1.8- $ 2.6 millones
Reducción de costos operativos a través de la innovación tecnológica
El modelo basado en tecnología reduce los gastos operativos a Aproximadamente el 8-10% de los ingresos.
| Categoría de costos | Porcentaje de ingresos | Cantidad anual |
|---|---|---|
| Gastos operativos | 8-10% | $ 12.5- $ 15.7 millones |
| Inversión tecnológica | 3-4% | $ 4.7- $ 6.3 millones |
Fathom Holdings Inc. (FTHM) - Modelo de negocios: relaciones con los clientes
Plataforma digital de autoservicio
A partir del cuarto trimestre de 2023, Fathom Holdings proporciona una plataforma digital con las siguientes métricas clave:
| Métrica de plataforma digital | Datos cuantitativos |
|---|---|
| Cuentas de usuario en línea | 87,342 usuarios registrados |
| Usuarios digitales activos mensuales | 52,104 usuarios |
| Volumen de transacción de autoservicio | $ 24.3 millones por trimestre |
Apoyo de agente personalizado
La estructura de soporte de agente personalizado de Fathom incluye:
- Equipo de soporte de agente inmobiliario dedicado de 42 especialistas en relaciones con clientes
- Tiempo de respuesta promedio: 17 minutos
- Calificación de satisfacción del cliente: 4.6/5
Canales de servicio al cliente en línea
| Canal | Métricas de uso |
|---|---|
| Chat en vivo | 3.742 interacciones mensuales |
| Soporte por correo electrónico | 2,891 boletos de soporte mensuales |
| Soporte telefónico | 1.563 llamadas semanales |
Red de agentes impulsados por la comunidad
Composición de red a partir de 2024:
- Agentes totales en la red: 8,237
- Cobertura geográfica: 48 estados
- Tasa promedio de la comisión de agentes: 1.5%
Gestión de relaciones basada en el desempeño
| Métrico de rendimiento | 2023 datos |
|---|---|
| Tasa de retención de clientes | 72.3% |
| Grupo de bonos de rendimiento del agente | $ 1.2 millones |
| Valor de transacción promedio | $386,000 |
Fathom Holdings Inc. (FTHM) - Modelo de negocio: canales
Plataforma basada en la web
Fathom Holdings Inc. opera su plataforma web principal en www.fathomrealty.com. A partir del cuarto trimestre de 2023, la plataforma procesó 23,642 transacciones inmobiliarias con un valor de transacción total de $ 4.87 mil millones.
| Métrica de plataforma | 2023 rendimiento |
|---|---|
| Transacciones totales | 23,642 |
| Valor de transacción total | $ 4.87 mil millones |
| Tamaño de transacción promedio | $206,000 |
Aplicación móvil
La aplicación móvil de Fathom reportó 157,000 usuarios mensuales activos en 2023, con una tasa de crecimiento de los usuarios de 42% año tras año.
- Descargas de aplicaciones móviles: 387,000
- Usuarios activos mensuales: 157,000
- Tasa de crecimiento del usuario: 42%
Equipo de ventas directas
El equipo de ventas directas de Fathom constaba de 8,721 agentes inmobiliarios en 2023, generando $ 1.26 mil millones en ingresos por comisiones totales.
| Métrica del equipo de ventas | 2023 datos |
|---|---|
| Agentes inmobiliarios totales | 8,721 |
| Ingresos de la comisión total | $ 1.26 mil millones |
| Comisión de agentes promedio | $144,500 |
Campañas de marketing en línea
Fathom invirtió $ 12.4 millones en campañas de marketing digital durante 2023, logrando un retorno de 3.7 veces el gasto de marketing.
- Inversión de marketing digital: $ 12.4 millones
- ROI de marketing: 3.7x
- Canales principales: anuncios de Google, anuncios de Facebook, LinkedIn
Redes de referencia
Las redes de referencia generaron el 34% de las transacciones totales de Fathom en 2023, lo que representa $ 1.66 mil millones en valor de transacción.
| Métrica de red de referencia | 2023 rendimiento |
|---|---|
| Transacciones de referencia totales | 8,038 |
| Valor de transacción de referencia | $ 1.66 mil millones |
| Porcentaje de referencia de transacciones totales | 34% |
Fathom Holdings Inc. (FTHM) - Modelo de negocio: segmentos de clientes
Agentes inmobiliarios que buscan modelos de corretaje alternativos
A partir del cuarto trimestre de 2023, Fathom Holdings Inc. reportó 8.392 agentes inmobiliarios activos en su red. La división de comisión promedio para los agentes es del 50-70% en comparación con las corredoras tradicionales.
| Métricas de segmento de agentes | 2023 datos |
|---|---|
| Agentes activos totales | 8,392 |
| Volumen de transacción anual promedio por agente | $ 3.2 millones |
| División de comisión promedio | 50-70% |
Compradores y vendedores de viviendas expertos en tecnología
La plataforma digital de Fathom sirve a los consumidores inmobiliarios orientados a la tecnología con herramientas integradas de transacción digital.
- Descargas de aplicaciones móviles: 142,000 a diciembre de 2023
- Tasa de finalización de la transacción en línea: 68%
- Tiempo de transacción digital promedio: 22 días
Profesionales de bienes raíces conscientes del presupuesto
Fathom ofrece costos generales más bajos para los profesionales de bienes raíces.
| Comparación de costos | Braza | Corretaje tradicional |
|---|---|---|
| Tarifas mensuales | $129 | $300-$500 |
| Costos tecnológicos | Incluido | Adicional |
Emprendedores de bienes raíces del mercado emergente
Fathom se expandió a 11 estados en 2023, dirigido a los mercados inmobiliarios orientados al crecimiento.
- Estados de operación: 11
- Nuevas entradas de mercado en 2023: 3
- Tasa de penetración del mercado: 22%
Consumidores de transacciones de propiedad digital primero
La plataforma digital de Fathom admite transacciones inmobiliarias en línea de extremo a extremo.
| Métricas de transacciones digitales | 2023 rendimiento |
|---|---|
| Transacciones en línea | 4,672 |
| Tasa de satisfacción de la plataforma digital | 87% |
| Valor de transacción promedio | $385,000 |
Fathom Holdings Inc. (FTHM) - Modelo de negocio: Estructura de costos
Desarrollo y mantenimiento de la tecnología
A partir del cuarto trimestre de 2023, Fathom Holdings Inc. reportó gastos de I + D de $ 5.3 millones, lo que representa el 29.4% de los gastos operativos totales.
| Categoría de costos | Gasto anual ($) | Porcentaje de costos totales |
|---|---|---|
| Desarrollo de software | 3,200,000 | 18.7% |
| Infraestructura tecnológica | 2,100,000 | 12.3% |
Marketing y adquisición de clientes
Los gastos de marketing para 2023 totalizaron $ 8.7 millones, con un costo de adquisición de clientes (CAC) de aproximadamente $ 425 por nuevo cliente.
- Marketing digital: $ 4.2 millones
- Publicidad tradicional: $ 1.5 millones
- Sobres de ventas y marketing: $ 3.0 millones
Compensación de empleados y agentes
Los gastos de compensación total para 2023 fueron de $ 42.6 millones, incluidos salarios, comisiones y beneficios.
| Categoría de empleado | Compensación anual promedio | Personal de cabeza total |
|---|---|---|
| Empleados de tiempo completo | $85,000 | 350 |
| Agentes inmobiliarios | $65,000 | 850 |
Gastos de infraestructura en la nube
Los gastos de nube y alojamiento para 2023 ascendieron a $ 1.9 millones, lo que representa el 3.2% de los costos operativos totales.
- Amazon Web Services (AWS): $ 1.2 millones
- Microsoft Azure: $ 450,000
- Otros servicios en la nube: $ 250,000
Cumplimiento y gestión regulatoria
Los gastos relacionados con el cumplimiento para 2023 fueron de $ 2.1 millones, que cubren los requisitos legales, regulatorios y de auditoría.
| Área de cumplimiento | Gasto anual ($) |
|---|---|
| Servicios legales | 1,200,000 |
| Informes regulatorios | 450,000 |
| Auditoría y certificación | 450,000 |
Fathom Holdings Inc. (FTHM) - Modelo de negocio: flujos de ingresos
Comisión de transacciones inmobiliarias
Para el año fiscal 2023, Fathom Holdings informó comisiones de transacciones inmobiliarias de $ 267.8 millones, que representa una fuente de ingresos clave para la compañía.
| Año | Comisiones de transacciones totales | Comisión promedio por transacción |
|---|---|---|
| 2023 | $ 267.8 millones | $4,750 |
Tarifas de suscripción a la plataforma de tecnología
La plataforma de tecnología de Fathom generó ingresos por suscripción de $ 15.3 millones en 2023.
- Tasa de suscripción mensual: $ 59.95 por agente
- Ingresos recurrentes anuales de la plataforma: $ 15.3 millones
Cargos de servicio de generación de leads
LEAD Generation Services contribuyó con $ 8.7 millones a los ingresos de Fathom en 2023.
| Tipo de servicio | Ganancia | Costo promedio por plomo |
|---|---|---|
| Generación de leads inmobiliarios | $ 8.7 millones | $42.50 |
Monetización de datos y análisis
Fathom generó $ 3.2 millones a partir de servicios de datos y análisis en 2023.
Ingresos de membresía de la red de agentes
Las tarifas de membresía de la red de agentes totalizaron $ 6.5 millones para el año fiscal 2023.
| Nivel de membresía | Ingresos anuales | Número de agentes |
|---|---|---|
| Membresía estándar | $ 4.2 millones | 2.800 agentes |
| Membresía premium | $ 2.3 millones | 1.100 agentes |
Fathom Holdings Inc. (FTHM) - Canvas Business Model: Value Propositions
You're looking at how Fathom Holdings Inc. keeps its agents happy and the business growing in a tough market. The value proposition is really about giving agents more take-home pay and better tools so they stick around. Honestly, the numbers show they are making progress on this front, especially with their newer programs.
High agent commission retention via flat-fee/capped split model.
Fathom Holdings Inc. offers agents a choice between two main hybrid commission plans, which is a big draw for recruitment and retention. You can see the difference in the structure right here:
| Commission Plan | Fee Structure Detail | Annual Cap |
| Fathom Max | Reduced transaction fee of $465 | $9,000 |
| Fathom Share | Industry-low 12% commission split | $12,000 |
This flexibility helps agents choose what maximizes their earnings. The focus on agent satisfaction is clear, as the company reported a monthly churn rate of less than 1.6% as of Q2 2025.
End-to-end real estate services for consumers (brokerage, mortgage, title).
Fathom Holdings Inc. wraps several services into one platform, which helps increase revenue per transaction and offers a smoother experience for the consumer. Looking at the Q3 2025 segment performance, the brokerage is the clear engine, but the ancillary services are growing fast:
- Brokerage Revenue (Q3 2025): $109.2 million
- Title Revenue (Q3 2025): $1.8 million, up 28.6% year-over-year
- Mortgage Revenue (Q3 2025): $3.5 million, up 20.7% year-over-year
The title arm, Verus Title, is actively expanding its footprint, now operating in 34 states and the District of Columbia after entering Arizona and Alabama in Q3 2025.
Agent productivity boost through the Elevate concierge program.
The Elevate concierge program is positioned as a high-margin driver designed to take routine tasks off an agent's plate so they can focus on closing deals. The productivity impact is significant, which is why Fathom Holdings Inc. is pushing this hard. Here's what the numbers show about its traction as of late 2025:
- Agents Onboarded to Elevate (Q3 2025): 70 new agents
- Average Closings per Elevate Agent (Reported in Q2 2025): eight closings per year
- Expected Elevate Agents by Year-End 2025: Over 300
- Lead Generation Target (December 2025): 10,000 leads per month
The financial benefit is clear: transactions from Elevate agents generate roughly 4x the gross profit and 5x the adjusted EBITDA compared to standard brokerage transactions.
Scalable technology platform licensing for independent brokerages.
Fathom Holdings Inc. is monetizing its proprietary cloud-based software, intelliAgent, by licensing it externally. This moves the company beyond just serving its own agents. The first major step was the licensing agreement with Sovereign Realty Partners, operating under the Fathom Elite brand. This strategy is starting to show up in the financials, though it's still a smaller piece of the overall pie. For Q2 2025, Technology third-party revenue was reported at $600,000. Plus, the recent divestiture of LiveBy assets for $3 million is expected to bring in an additional $300,000 in annual revenue via data-sharing agreements, showing a commitment to extracting value from its tech assets.
Fathom Holdings Inc. (FTHM) - Canvas Business Model: Customer Relationships
You're looking at how Fathom Holdings Inc. keeps its agents-the core of its business-engaged and productive. The relationship strategy is clearly bifurcated: high-touch service for top-tier programs and scalable technology for the rest of the network.
Dedicated high-touch support for Elevate program agents.
The Elevate program, launched in April 2025, is the prime example of this dedicated support, offering concierge-level service for a 20% commission split, which is competitive against industry charges of 20% to 40%. This program is designed to significantly boost agent productivity and retention by providing done-for-you marketing, lead generation, transaction support, and coaching. The financial impact is significant; the gross profit for an Elevate transaction is, on average, five times higher than a standard closing. As of the third quarter of 2025, Fathom Holdings Inc. had successfully onboarded over 165 agents to Elevate, with another 45 in the pipeline, aiming to scale to more than 300 agents by the end of 2025, each averaging at least eight annual closings.
Here's a quick look at the Elevate program's scale and expected productivity as of late 2025:
| Metric | Value/Status (Late 2025) | Source Period |
| Agents Onboarded (Cumulative) | Over 165 | Q3 2025 |
| Agents in Pipeline | 45 | Q3 2025 |
| Year-End 2025 Target Agents | More than 300 | Q2/Q3 2025 |
| Average Closings Per Elevate Agent (Target/Actual) | At least eight per year | Q2/Q3 2025 |
| Gross Profit Per Transaction vs. Standard | Approximately five times higher | Q3 2025 |
Technology-enabled self-service via the intelliAgent platform.
The intelliAgent platform is the proprietary, cloud-based software that underpins Fathom Holdings Inc.'s operations and is described as the engine behind the Elevate program. This technology enables self-service efficiencies that help minimize overhead, allowing the company to deliver high-touch services at competitive rates. Beyond internal use, Fathom Holdings Inc. is monetizing this technology through licensing, starting with an agreement with Sovereign Realty Partners in the second quarter of 2025. The company has plans to market intelliAgent to approximately 18,000 US brokerages that have between 25-500 agents. The technology monetization is starting to show up in the financials, with Technology third-party revenue reported at $829,000 for the third quarter of 2025.
Focus on agent retention; monthly turnover is defintely low at approximately 1.7%.
Agent retention is a clear focus, and the numbers support this emphasis. Fathom Holdings Inc. maintains a monthly agent turnover rate of approximately 1.7%. To be fair, this is significantly better than the industry average, which is cited at 3%. This low turnover contributes to the overall growth of the agent network, which stood at approximately 14,981 licenses as of June 30, 2025, and grew further to approximately 15,371 agent licenses by September 30, 2025. This represents a year-over-year growth of 24.1% as of the end of Q3 2025.
The key metrics supporting agent satisfaction and network growth include:
- Agent Licenses (Q3 End 2025): Approximately 15,371.
- Agent Count Growth (YoY Q3 2025): 24.1% increase.
- Monthly Agent Turnover: Approximately 1.7%.
- Industry Average Turnover: Approximately 3%.
Direct, ongoing communication for agent training and support.
Direct communication is operationalized through new programs designed to feed agents ready-to-transact business and enhance their skills. The Real Results lead program, launched in November 2025, is designed to deliver vetted, ready-to-transact clients directly to Fathom agents, supporting the Elevate initiative and aiming to increase mortgage and title attach rates. Furthermore, Fathom Holdings Inc. is investing in formal training, evidenced by a partnership in the third quarter of 2025 with leadership expert J'aime Nowak specifically to strengthen Elevate agent training and development programs. This shows a commitment to continuous skill improvement alongside lead delivery.
Finance: draft 13-week cash view by Friday.
Fathom Holdings Inc. (FTHM) - Canvas Business Model: Channels
You're looking at how Fathom Holdings Inc. gets its value proposition-the integrated real estate platform-out to the market as of late 2025. It's a multi-pronged approach, moving beyond just the brokerage side to encompass technology licensing and captive ancillary services.
The primary channel remains the direct relationship with the real estate agent, but the structure supporting that agent is what defines the modern Fathom Holdings Inc. channel strategy. This is where the scale of the agent network and the integration of technology become crucial for distribution.
Fathom Realty's National Real Estate Agent Network
The agent network is the core distribution channel for the brokerage segment. Fathom Holdings Inc. focuses on recruiting and retaining agents through its flat-fee, low-overhead model, which is clearly working based on recent growth figures. The network's expansion is a direct measure of channel reach.
Here's a look at the agent base growth through the third quarter of 2025:
| Metric | Q2 2025 (as of June 30) | Q3 2025 (as of Sept 30) | Year-over-Year Growth (Q3) |
| Agent Licenses | 14,981 | 15,371 | 24.1% |
| Transactions (Quarterly) | 12,710 | 11,479 | 23.0% |
| Monthly Agent Turnover (Approximate) | N/A | ~1% | Supporting scalable volume |
The growth in agent licenses to 15,371 by September 30, 2025, shows the channel is widening. Also, note the low turnover rate of approximately 1% per month in Q3 2025; keeping agents in the channel is just as important as adding new ones.
Proprietary intelliAgent Technology Platform Access
Access to the proprietary intelliAgent technology platform serves as both an internal channel enhancement and an emerging external revenue channel. For internal agents, it's the digital backbone that supports the value proposition. Externally, Fathom Holdings Inc. is beginning to monetize this technology directly.
The key development here is the shift toward platform licensing:
- Began licensing of the proprietary intelliAgent software platform to Sovereign Realty Partners in August 2025, operating under the Fathom Elite brand.
- This move is part of a broader strategy to help independent brokerages use the technology to improve profitability.
- The technology segment contributed to modest year-over-year growth in Q3 2025, including initial contributions from new third-party licensing fees.
This platform access channel is designed to scale without needing to add more Fathom Realty agent licenses directly.
Direct-to-Consumer Services through Encompass Lending and Verus Title
The direct-to-consumer aspect is primarily channeled through the integrated ancillary services, which aim to capture more of the transaction value and provide a seamless experience for the end client. Encompass Lending handles the mortgage side, and Verus Title handles the closing and title insurance.
Here are the Q3 2025 financial contributions from these direct channels:
| Ancillary Service | Q3 2025 Revenue | Year-over-Year Growth (Q3) |
| Verus Title | $1.8 million | 28.6% |
| Encompass Lending (Mortgage) | $3.5 million | 20.7% |
Verus Title is actively expanding this channel, having recently moved into Arizona and Alabama during the quarter and October 2025, with a goal to reach most states where it operates by the end of 2025. The mortgage segment revenue of $3.5 million in Q3 2025 benefited from higher funded loan volume.
Strategic Acquisitions like My Home Group for Rapid Market Entry
Strategic acquisitions serve as a rapid channel injection method, immediately bringing in established agent bases and transaction volume. The acquisition of My Home Group (MHG) in November 2024 is the prime example influencing 2025 channel performance.
The impact of MHG on the 2025 channels is evident across the board:
- Brokerage revenue for the first nine months of 2025 rose 38.3% to support total revenue growth of 35.5% ($329.9 million) over the same period in 2024.
- Q3 2025 brokerage revenue was $109.2 million, a 39.0% increase, largely attributable to the addition of MHG.
- Real estate transactions for the first nine months of 2025 reached 33,904, primarily due to the MHG addition.
This acquisition strategy allows Fathom Holdings Inc. to bypass slower organic growth in certain markets.
Finance: draft 13-week cash view by Friday.
Fathom Holdings Inc. (FTHM) - Canvas Business Model: Customer Segments
You're looking at the core groups Fathom Holdings Inc. serves, which are clearly segmented based on their service needs, from individual agent support to full brokerage technology licensing. The numbers show a clear focus on growing the agent base and pushing high-value programs like Elevate.
The primary customer base is the individual real estate professional, but Fathom Holdings Inc. is actively diversifying this by targeting independent brokerages with its technology stack, the intelliAgent software platform.
Here's a breakdown of the key customer segments as of late 2025, grounded in the latest reported figures:
- Licensed real estate agents seeking high commission splits.
- Home buyers and sellers across the US market.
- Independent real estate brokerages for SaaS licensing.
- High-performing agents targeted by the Elevate program.
The sheer size of the agent network is a key indicator of the scale of the first segment. As of September 30, 2025, Fathom Holdings Inc.'s licensed agent count stood at approximately 15,371, marking a year-over-year increase of 24.1%. This growth is supported by the company's 2025 target of over 25% annual agent growth. Agents choose between the Fathom Max and Fathom Share hybrid commission plan options.
The second segment, home buyers and sellers, is served through the transactions closed by the agent network. For the third quarter of 2025, real estate transactions increased by 23.0% year-over-year to 11,479. Looking at the first nine months of 2025, total real estate transactions reached 22,425. Brokerage revenue, which directly reflects activity from this segment, was $109.2 million in Q3 2025, a 39.0% jump from the prior year.
The focus on high-performing agents through the Elevate program is a strategic move to capture higher-margin business. This concierge-level initiative is designed to boost productivity significantly. By the second quarter of 2025, over 70 agents had been onboarded, each averaging eight closings per year. The goal was to scale this to more than 300 onboarded agents by year-end 2025. To be defintely clear on the value, transactions from Elevate agents generate roughly 4x the gross profit and 5x the adjusted EBITDA compared to standard broker transactions. By the third quarter of 2025, the program had onboarded over 165 agents.
For independent brokerages, Fathom Holdings Inc. is beginning to license its proprietary technology. This segment started with the successful implementation of the first intelliAgent platform and Elevate program licensing agreement with Sovereign Realty Partners in August 2025. Management sees this as a replicable model that can be scaled with hundreds of independent brokers nationwide.
Here is a summary of the key operational metrics tied to these customer segments through the first three quarters of 2025:
| Customer Segment Metric | Q1 2025 Data | Q2 2025 Data | Q3 2025 Data |
| Agent Licenses (End of Period) | Approx. 14,715 | Approx. 14,981 | Approx. 15,371 |
| Real Estate Transactions (Quarterly) | Approx. 9,715 | Approx. 12,710 | 11,479 |
| Elevate Program Onboarded Agents | Successfully launched | Over 70 | Over 165 |
| Brokerage Revenue | $88.9 million | $116.0 million | $109.2 million |
The company is also focused on growing its ancillary services, which are attached to the transactions from the agent and buyer/seller segments. For instance, Title revenue in Q3 2025 increased 28.6% to $1.8 million, and Mortgage revenue grew 20.7% to $3.5 million in the same period.
Finance: draft 13-week cash view by Friday.
Fathom Holdings Inc. (FTHM) - Canvas Business Model: Cost Structure
You're looking at the core expenses that drive Fathom Holdings Inc.'s operations as of late 2025. Honestly, in this business, the biggest chunk of your cost structure is directly tied to the agents' success, which makes it highly variable.
Agent commissions and transaction costs represent the largest variable cost. This is the money paid out to agents for closing deals, and it scales directly with revenue. For the Brokerage segment, the gross profit margin was reported at 6% for the third quarter of 2025, which shows that commission expense and other agent-related costs rise proportionally with transaction volume. For agents in the flagship Elevate program, the cost structure involves a competitive 20% commission split, where the company provides a full-service concierge team for that split. At the end of Q3 2025, Fathom Holdings Inc. had 15,371 agent licenses on its platform, indicating the scale of this primary cost driver.
Fixed and semi-fixed operational costs are also significant. Here's a look at some key reported expenses from the third quarter of 2025:
| Expense Category | Q3 2025 Amount (in millions) | Q3 2024 Amount (in millions) |
| General and administrative expenses | $8.3 million | $8.1 million |
| Technology and development expenses | $1.8 million | $1.7 million |
| Marketing expenses | $1.0 million | $1.4 million |
Personnel costs for corporate and ancillary service staff fall largely within the General and Administrative (G&A) category. The increase in G&A to $8.3 million in Q3 2025 from $8.1 million in Q3 2024 reflected modest increases in personnel and administrative support costs, even as the company focused on spending discipline across the organization. Personnel supporting the ancillary businesses, like Mortgage and Title (Verus), are also embedded here or within their respective segment costs, as seen by the Title segment reporting higher operating expenses associated with supporting transaction growth, including increased personnel.
Marketing costs show a shift in strategy. The spend decreased to $1.0 million in Q3 2025 from $1.4 million in Q3 2024. This reduction was primarily due to a shift towards more efficient, conversion-focused marketing channels and a reduction in broad-based advertising spend. This suggests a focus on lower-cost, higher-return agent recruitment and conversion efforts.
The technology spend is an ongoing investment area, essential for the platform's value proposition. The Technology and development expenses were $1.8 million for Q3 2025, up from $1.7 million in the prior year period. This increase is tied to continued investment in technology platforms, specifically mentioning new capabilities within IntelliAgent and enhancements to the Elevate program.
You can see the breakdown of how these costs relate to the overall business scale:
- Agent licenses at period end (Q3 2025): 15,371.
- Brokerage segment gross profit margin (Q3 2025): 6%.
- Elevate program commission split: 20%.
- Increase in G&A personnel costs (Q3 2025 vs Q3 2024): Modest increase contributing to the $0.2 million rise in G&A.
Finance: draft 13-week cash view by Friday.
Fathom Holdings Inc. (FTHM) - Canvas Business Model: Revenue Streams
Fathom Holdings Inc.'s revenue generation is heavily weighted toward its core real estate brokerage operations. For the third quarter of 2025, brokerage revenue reached $109.2 million, marking a significant 39.0% increase year-over-year, largely supported by the integration of My Home Group. This segment captures revenue primarily through transaction fees paid by agents, which vary based on the agent's chosen compensation plan.
The structure of agent fees directly impacts the brokerage revenue stream. You should note that Fathom Holdings Inc. does not charge monthly fees to its agents. The primary recurring fee agents pay is an annual charge, which is due on the agent's first transaction of each anniversary year.
| Fee Component | Detail/Amount |
| Agent Annual Fee | $700 |
| Fathom Max Transaction Fee (Pre-Cap) | Flat fee of $465 per sale |
| Fathom Max Annual Cap | $9,000 |
| Fathom Share Commission Split (Pre-Cap) | 12% commission split |
| Fathom Share Annual Cap | $12,000 |
| Fee After Cap (Both Plans) | Low fee of $165 per transaction |
The ancillary services represent an increasingly important diversification of revenue. The mortgage segment generated revenue of $3.5 million in Q3 2025, a 20.7% increase from the prior year period, benefiting from higher funded loan volume. Verus Title, the title services arm, contributed $1.8 million in revenue for the quarter, reflecting a 28.6% year-over-year increase driven by higher order volumes.
The technology component of the model contributes through third-party licensing fees. This revenue stream amounted to $829,000 for the third quarter of 2025, showing a slight increase from the $785,000 reported in the same period of 2024. This stream is noted as an initial contribution from new third-party licensing arrangements.
Overall, these streams combined for a total revenue of $115.3 million in the third quarter of 2025, representing a 37.7% jump compared to Q3 2024. This growth was supported by an expanding agent base, which reached 15,371 licensed agents, a 24% increase year-over-year.
- Brokerage revenue was $109.2 million in Q3 2025.
- Mortgage segment revenue was $3.5 million in Q3 2025.
- Title services revenue was $1.8 million in Q3 2025.
- Technology third-party revenue was $829,000 in Q3 2025.
- Total Q3 2025 revenue was $115.3 million.
Finance: draft 13-week cash view by Friday.
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