Fathom Realty, a wholly owned subsidiary of Fathom Holdings Inc. (NASDAQ: FTHM), announced that it has reached a nationwide settlement related to claims asserted in Burnett v. The National Association of Realtors., et al.
As part of the settlement, Fathom Realty will pay $500,000 into a settlement fund within five days of receiving court approval for the settlement, to be followed by a payment of $1.95 million on or before Oct. 1, 2026.
“Fathom Realty was founded on the principle of delivering unparalleled support to our agents. We believe that this settlement represents the most prudent way forward, enabling our agents to focus on their clients without the distraction of prolonged litigation,” stated Fathom Holdings CEO Marco Fregenal. “Our unwavering commitment to providing excellent service to our agents, clients, and customers remains steadfast. As we proceed, it is important to note that this settlement is not an admission of liability or an acknowledgment of the validity of any claims made against us. We continue to assert that Fathom never participated in any conspiracy to inflate commissions and continue to believe that due to our flat-fee model, there was no incentive to join any such conspiracy. Entering into a settlement now has the benefits of avoiding ongoing legal fees and removing the demand on the executive team’s time, allowing us to focus on growing our business and ensuring our agents continue to have the opportunity to excel in their service to clients.”
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