Fathom Holdings, Inc., the fourth largest public independent brokerage (2023 RealTrends 500), released its first-quarter results for 2023. Despite a challenging market environment, the company demonstrated growth and resilience, as highlighted by its expanding agent network, steady transaction volume, and stable revenue.

Agent Network Growth

Fathom experienced a remarkable 18% increase in its agent network during the first quarter of 2023. The number of agents grew to approximately 10,628 by March 31, up from approximately 9,006 agents during the same period in 2022. This growth showcases Fathom’s ability to attract and retain real estate professionals, reinforcing its position as a preferred platform for agents seeking the tools, training, and technology to support their businesses at a much lower cost.

“Our strong results this quarter continue to demonstrate the power of our truly disruptive business model and how we’re able to succeed irrespective of the market environment,” said Fathom CEO Joshua Harley. “During the first quarter, we delivered revenue above our outlook, and since the first quarter last year, we grew our agent network 18 percent to approximately 10,628 agents, significantly beating domestic agent growth reported by many of our public peers. Despite the backdrop of a challenging residential real estate market, we continue to provide a compelling value proposition through innovation and an industry-leading commission model that continues to be resilient in this environment. In fact, March brought us our strongest growth through agent referrals in our company’s history.”

Transaction Volume and Revenue

Despite an overall market decline of 25% in real estate transactions compared to the first quarter of 2022, Fathom’s transaction volume exhibited resilience. The company reported roughly 8,532 transactions during the first quarter of 2023. This accomplishment is a testament to Fathom’s industry expertise and ability to adapt to market fluctuations while maintaining a substantial transaction volume. Regardless of the challenging macroeconomic conditions, Fathom’s ability to generate $77.5 million in revenue demonstrates its stability and commitment to delivering value to its stakeholders.

Looking Ahead

Fathom Holdings, Inc. remains focused on disrupting the real estate industry. As market conditions evolve, Fathom is dedicated to equipping its agents with advanced tools, innovative technology, and unwavering support. The company’s resilience and adaptability position it well to navigate the ever-changing real estate landscape and capitalize on emerging opportunities.

Read the full press release HERE.