Virtual brokerage and tech company Fathom Holdings Inc. is expanding its presence in Utah with the acquisition of 435-agent brokerage iPro Realty Network. Terms of the transaction were not disclosed.
iPro Realty Network has agents throughout Utah with market presence in St. George, Cedar City, Orem, Salt Lake City, Clearfield, and Midway. The company was ranked #94 among independent brokerages according to the 2021 RealTrends 500.
In a podcast for RealTrends, Fathom’s Founder and CEO Josh Harley said, “Fathom’s technology allows us to do more with less by automating many of the processes. It allows us to operate completely virtually, requires fewer personnel on staff. There are a lot of companies who need what we have to offer. In fact, we already have over 400 brokers paying us for our technology or data. We believe that we can help other brokerages reduce their costs and build more profitable business as well.”
Fathom recently launched an online training platform and launched the second generation of its intelliAgent platform for brokerage operations and agent transaction management.
iPro Realty Network generated more than $1.25 billion in residential sales volume in 2021 across more than 2,900 transactions. Like Fathom, iPro Realty Network offered a scalable, flat-fee, 100% commission structure.
