Fathom Holdings Acquires START Real Estate to Scale First-Time Homebuyer Program Nationally

Fathom Holdings Inc. (NASDAQ:FTHM) is one of the best long term penny stocks with huge upside potential. On October 16, Fathom Holdings announced the acquisition of START Real Estate, which is a residential brokerage focused exclusively on serving first-time homebuyers, a large and rapidly growing segment of the US housing market.

START Real Estate has developed a successful model for guiding first-time buyers through the homeownership process. The brokerage is headquartered in Colorado with a recent expansion into Utah. It has 70 agents who are projected to close ~400 transactions this year with a notable mortgage attach rate exceeding 70%.

Fathom plans to use its national footprint, which covers 43 states and DC with ~15,000 agents, to scale START’s first-time buyer program into new markets nationwide. The acquisition is designed to expand Fathom’s transaction volume and agent count while boosting higher-margin recurring revenue from ancillary services. START Real Estate’s proven model will be integrated with Fathom’s proprietary cloud-based software, the intelliAgent platform, and its integrated mortgage and title businesses.

Fathom Holdings Inc. (NASDAQ:FTHM) provides a real estate services platform that integrates residential brokerage, mortgage, title, and insurance services in the US. It operates through three segments: Real Estate Brokerage, Mortgage, and Technology.

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Disclosure: None. This article is originally published at Insider Monkey.