Fathom Holdings Inc., a holding company that primarily operates through its wholly owned subsidiary, Fathom Realty, LLC, recently announced that its subsidiary, intelliAgent, has signed a definitive agreement to acquire technology platform Naberly Solutions.
The rationale for the acquisition is to enhance Fathom’s proprietary intelliAgent suite through the addition of important functionality. The acquisition is expected to close in the first quarter of 2021. Terms of the transaction were not disclosed.
Based in Olympia, Washington, Naberly Solutions was founded in 2015 as a cloud-based SaaS company providing a technology suite used by real estate professionals to compete in today’s market. With a focus on lead generation and conversion, Naberly provides an end-to-end solution for the consumer home search experience, as well as customizable home search-enabled websites for real estate agents.
Naberly’s customer relationship management system (CRM) automates several tasks. Additional APIs have been created to integrate with many real estate technology solutions on the market, expanding Naberly’s capabilities.
Fathom plans to fully integrate Naberly’s technology platform into its intelliAgent software suite, creating an all-in-one technology platform for managing a brokerage’s operations.
“The acquisition of Naberly’s technology platform should allow us to accelerate our vision of full technology independence and improved business intelligence, while working toward increasing revenue per agent and per transaction,” said Fathom CEO Joshua Harley. “Integrating the Naberly platform under intelliAgent should allow us to further reduce expenses over time, as we will no longer need to license that technology from third parties. Unlike licensing, where costs increase as agent count grows, we expect our costs per agent to decrease as Fathom grows.
“As part of our larger vision, we plan to launch a national real estate portal by rolling out an enhanced version of the current Naberly platform. We believe this will allow us to compete head-to-head with other large real estate sites by generating buyer and seller leads for our agents. This should also help us grow our title business, as well as mortgage and insurance revenues, if, and when, we eventually add those services, by fully integrating them into our platform and the sales cycle,” Harley said.
“Going forward, we intend to license the Naberly platform, along with the entire intelliAgent suite, to smaller real estate brokerages,” Harley said. “Licensing our technology will also allow us to create new opportunities for revenue from mortgage and title services through joint ventures. Given the efficiency of our model, we believe this incremental revenue will result in long-term margin and profit improvement.”
“We created Naberly to give real estate professionals the tools to better serve their clients and earn more business with world class technology, and we couldn’t be more proud or excited to integrate our platform into intelliAgent,” said Jeff LaCroix, Naberly co-founder. “The integration with intelliAgent allows us to rapidly expand our shared vision of an end-to-end solution with an emphasis of communication, engagement and transparency.”
For more information, please visit www.fathomrealty.com.