Fathom Holdings Expands Verus Title Elite into Amarillo, Texas

Rhea-AI Summary

Fathom Holdings (Nasdaq: FTHM) announced the expansion of its joint venture, Verus Title Elite, into Amarillo, Texas. This marks the fourth Texas market for Verus Title Elite, adding to its existing operations in Plano, Flower Mound, and Waxahachie. The new office will be led by Lori Quinlin, an experienced title professional with strong local connections.

The expansion is part of Fathom's strategy to enhance its integrated real estate services platform, which includes residential brokerage, mortgage, title, and SaaS offerings. The move demonstrates Verus Title Elite's commitment to providing localized expertise and community-centered service in Texas's dynamic real estate market.

Positive

• Geographic expansion into fourth Texas market strengthening market presence
• Strategic growth of integrated real estate services platform

Negative

• None.

Insights

Financial Analyst

The expansion of Verus Title Elite into Amarillo represents incremental growth but is unlikely to materially impact FTHM's financial performance in the near term. With a small market cap of $47.5 million, Fathom Holdings needs more substantial growth catalysts to move the needle. While geographic expansion supports their integrated services strategy, Amarillo's real estate market size is relatively modest.

The title insurance segment typically generates 3-5% of total revenue for integrated real estate services companies. Even with successful penetration in Amarillo, this expansion would likely contribute minimal additional revenue given the market size. The strategic value lies more in strengthening Fathom's Texas presence and cross-selling opportunities rather than immediate financial impact.

CARY, N.C., Dec. 4, 2024 /PRNewswire/ -- Fathom Holdings Inc. (Nasdaq: FTHM) (Nasdaq: FTHM) ("Fathom" or the "Company"), a national, technology-driven, end-to-end real estate services platform integrating residential brokerage, mortgage, title, and SaaS offerings for brokerages and agents, today announced the expansion of its joint venture, Verus Title Elite, into Amarillo, Texas.

With this expansion, Verus Title Elite now operates in four Texas markets, including Plano, Flower Mound, and Waxahachie, emphasizing its focus on community-centered service and localized expertise.

The move into Amarillo reflects Verus Title Elite's commitment to empowering Fathom agents and meeting the region's dynamic real estate market needs. Lori Quinlin, a seasoned title professional with strong ties to the Amarillo community, will lead the new office. Lori's extensive industry knowledge and dedication to client service will play a pivotal role in ensuring Verus Title Elite continues delivering exceptional real estate experiences.

"We are excited to bring Verus Title Elite to Amarillo," said Monica Schroeder, President of Verus Title. "This expansion aligns with our vision of providing exceptional title and escrow services to communities across Texas. Lori's leadership will be instrumental in establishing our presence and delivering on our promise of unparalleled customer care. We look forward to becoming integral to Amarillo's vibrant real estate community."

As Fathom Holdings continues to grow its integrated real estate services platform, Verus Title Elite exemplifies the Company's innovative approach to enhancing agent and client experiences through strategic market expansion and collaborative partnerships.

About Verus Title
Verus Title is a subsidiary of Fathom Holdings Inc. that offers comprehensive title insurance and settlement services. It is committed to innovation, technology, and customer satisfaction and provides real estate professionals and consumers with efficient, transparent, and reliable solutions. For more information, visit www.verustitle.com.

About Fathom Holdings Inc.
Fathom Holdings Inc. is a national, technology-driven real estate services platform that integrates residential brokerage, mortgage, title, and SaaS offerings to brokerages and agents by leveraging its proprietary cloud-based software, intelliAgent. The Company's brands include Fathom Realty, Encompass Lending, intelliAgent, LiveBy, Real Results, and Verus Title. For more information, visit www.FathomInc.com.

Investor Contact:
Matt Glover and Clay Liolios
Gateway Group, Inc.
949-574-3860 
FTHM@gateway-grp.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/fathom-holdings-expands-verus-title-elite-into-amarillo-texas-302323076.html

SOURCE Fathom Holdings Inc.

FAQ

Where did Fathom Holdings (FTHM) expand its Verus Title Elite operations in December 2023?

Fathom Holdings expanded Verus Title Elite into Amarillo, Texas, marking its fourth location in Texas alongside Plano, Flower Mound, and Waxahachie.

How many Texas markets does Verus Title Elite now operate in after the Amarillo expansion?

Verus Title Elite now operates in four Texas markets: Amarillo, Plano, Flower Mound, and Waxahachie.

Who will lead Verus Title Elite's new Amarillo, Texas office?

Lori Quinlin, a seasoned title professional with strong ties to the Amarillo community, will lead the new Verus Title Elite office.