CARY, N.C. - Fathom Holdings Inc. (NASDAQ: FTHM), known for its comprehensive real estate services, announced today the creation of a strategic joint venture, Verus Title Elite Texas LLC, with its top agents in Texas.
The new entity is expected to enhance the company's revenue and profitability by improving the closing experience for clients and agents. Verus Title Elite is set to begin operations on April 1, 2024, with plans to roll out this model in additional states throughout the year.
This initiative comes as a response to agent feedback seeking better closing experiences for clients. According to Fathom Holdings CEO Marco Fregenal, the joint venture presents a significant opportunity for both Verus Title and participating top agents to increase their income and support levels. The partnership is exclusive to Fathom Realty's top producers in the Texas market, which is the company's largest for residential real estate.
Paul Yurashevich, Founder and President of Verus Title, expressed enthusiasm for the collaboration with Texas agents to extend title services. He emphasized the joint venture's alignment with the company's dedication to its agents and the strengthening of title operations nationwide. The demand in the Texas market, a key area for Verus, is expected to be met more effectively through this strategic partnership.
Fathom acquired Verus Title in November 2020, aiming to complement its suite of real estate services. Verus has since expanded its operations to 30 states and the District of Columbia. The joint venture is a continuation of Fathom's strategy to integrate technology-driven solutions across its platform, which includes residential brokerage, mortgage, title, insurance, and SaaS offerings.
The information in this article is based on a press release statement.
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