Bed Bath and Beyond is building an end-to-end home ownership platform with the acquisition of Fathom Holdings. Coach Darryl Davis asks, “What does a retailer owning a brokerage mean for the future of real estate?”
Yesterday morning, I opened my email, saw the headline, and read it twice. Bed Bath & Beyond acquires real estate brokerage firm. My first thought was probably the same as yours. “Wait a minute, aren’t they going out of business?”
Participate in the INMAN Intel Index Survey
Here’s the short answer. Yes and no. The story behind it says a lot about where our business is heading, so let’s explain it in plain English.
On June 17, Fathom Holdings agreed to be acquired by Bed Bath & Beyond in an all-stock transaction. The transaction values Fathom at approximately $53.38 million, and Fathom shareholders will receive 0.2236 shares of Bed Bath & Beyond for each share they own. It is expected to close in the second half of this year if regulators approve and Fathom shareholders vote in favor.
Now, about the name. As you all remember, Bed Bath & Beyond, the company that issued the big blue coupons, went bankrupt and closed all its stores. What you are looking at now is a different company.
A few years ago, Overstock.com bought the Bed Bath and Beyond name out of bankruptcy and later started calling itself Bed Bath and Beyond because the name was worth more than itself. It is run by Marcus Lemonis of the TV show “The Profit” and currently owns many brands including Overstock, Bye Bye Baby, and Kirkland Home.
I mean, this hasn’t been since your mom’s bed bath. It is a holding company with a famous name.
Here’s what they’re trying to build
Lemonis calls it “Everything Home.” The idea is a company that sells homes, mortgages, titles, and insurance to consumers, and then sells towels and furniture to fill it. Fathom provides them with real estate, brokerage, mortgages, title and technology. On paper, it sounds neat. Buy everything under one roof.
And Fathom isn’t the first piece they grab. Real estate is just the newest aisle in the store.
Next, take a look at the deal itself. Because numbers tell a more interesting story than headlines. Fathom is no slouch. In 2025, the company generated approximately $420 million in revenue, an increase of 25% year-over-year, with trading volume increasing by nearly 15%. All of this is built on the technology-first model that agencies prefer.
And Bed Bath and Beyond is in the midst of a comeback of its own. Last quarter saw its first sales increase in years, ending with revenue of approximately $247.8 million.
This is the honest truth. This is an all-stock deal, and neither company has yet made a profit. This is common for companies that are scaling. So the real bet is that the two of them together can be bigger than either of them could be alone.
Fathom’s stock price rose about 82% on the news, showing that investors liked the combination.
The charm of an end-to-end real estate journey
This is the most important part, so take a step back. This trade is another move in a larger trend.
For years, major companies in and around the real estate industry have been chasing the same award. They want to own the entire journey. We find homes, finance homes, arrange home insurance, sell homes, and furnish homes, all within one company.
Portal tried it. A major securities company tried it out. Now, retailers are trying it out. The goal is always the same. Own the front door, own the customer, own the data.
And that begs a fair question for all of us. Where can consumers get honest, independent advice when one company owns every step? Convenience sounds good, right? One-stop checkout is nice. But the biggest financial and emotional decision most people make isn’t filling out a cart on a website. This is a life-changing decision, full of trade-offs that algorithms can’t fully understand.
That’s when I realized that none of these deals could be changed: the value of a real estate professional. Platforms can bundle services. A title company can bolt your mortgage to an insurance product. What you can’t do is sit down at your kitchen table, look into the eyes of nervous first-time buyers, and explain to them what this really means for them and their families.
You can’t read a neighborhood like a local pro. You cannot negotiate with heart and skill. You can’t answer the phone at 9 p.m. when transactions are shaky and customers are scared. It’s a human job. And no merger, app, or famous logo will replace it.
Therefore, I do not consider this news a threat. I look at it as a reminder. Every time the industry races to automate and bundle homes, it ends up proving the same point. The only thing they cannot create is trust. The only thing they can’t download is judgment.
Professionals who are committed to relationships, expertise, and true advocacy will never be replaced. They are becoming increasingly valuable because they are part of the process that conglomerates cannot imitate.
So keep an eye on this trend. Look at where the industry is going and who is going to own it. But don’t lose any sleep over a press release with a celebrity’s name on it.
A home is always the largest purchase a customer makes. And someone who guides them with integrity and skill is always important. That hasn’t changed, and it won’t change in the future.
Daryl Davis, CSP, is a nationally recognized real estate speaker, bestselling author, and coach with over 40 years of experience in the industry. For more information, visit darrylspeaks.com.
