Bill Telford
VP of Business Development
Fathom Realty
St. George, Utah
www.FathomCareers.com
Region served: Utah
Years in real estate: 48
Number of offices: 6
Number of agents: 435
Favorite part of your job: Being the wind beneath the wings of our agents and employees to assist them to soar to new heights of productivity and achieve their dreams.
Motto/work philosophy that you live by: It’s not about being the biggest, but being the best. We strive to be the benchmark of service excellence to our employees, agents and the communities we serve.
You recently sold your independent company, iPro Realty Network, to Fathom. What prompted this decision, and why was Fathom the right fit?
While Fathom’s leadership team was one of the main factors behind the decision, it didn’t hurt that their corporate colors were the same as ours! Their 100% commission structure was similar to what we had in place at iPro Realty Network, so I envisioned a seamless blending of the two. Drilling down further, I felt their culture closely aligned with ours—from their agent-centric philosophy to feeling like we’re one big family. They also have a very sophisticated mentor program designed to give new agents a jumpstart in their careers. As part of Fathom, our agents and employees now have access to a health insurance package, and because Fathom is a public company, they share equity with agents through stock grants. I was also impressed by the company’s Fathom Scholarship Fund and Fathom Family Fund, which was designed to give back to those in need.
What are some of the current trends you see in your market right now?
Utah is ranked as one of the nation’s No. 1 housing markets, with high job growth and low unemployment. Because of our job market, there’s a great need for housing to keep up with the influx of people moving to the area for employment opportunities, as well as those who are looking to call Utah home as they move into their retirement years. We’re also beginning to see inventory increase for the first time in several years, and large production builders in the area have spec homes available to purchase that aren’t pre-sold—something we haven’t seen in nearly three years. Our area—and the entire state of Utah—is poised to continue along the same trajectory, with price increases on a more moderate level than we’ve seen lately.
What does the real estate brokerage of the future look like, and how does Fathom’s business model and value proposition fit into the equation?
I believe Fathom is the future of real estate. In fact, they are one of the few—and currently the only—100% commission, low transaction-fee concepts that is also a public company and can provide stock grants to agents, and I think that’s going to become more popular as the future unfolds. Fathom is a great model for the future of our industry, as it places the control of the business in the hands of the agent.
What’s on the horizon for Fathom as we make our way through the second half of the year?
Based on the trends I’m seeing, I anticipate a lot of growth in our future. What I’ve found over the years is that as markets tighten, the 100%-commission business model becomes a true advantage. Charging agents a small, flat transaction fee per sale allows them to keep more of their hard-earned money and allocate it to other areas that will foster growth, which is a huge benefit during times when the number of transactions is declining and inventory is challenging. It can also be used as another revenue stream, providing agents the opportunity to put additional money toward an upcoming vacation or into a retirement fund.
For more information, visit https://fathomcareers.com/.
