Organizational change will permit DeJane Kerr, Fathom Realty’s senior vp of compliance, to give attention to brokerage compliance, mother or father firm says.
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Former eXp Realty operations director Andrew Shock is taking his 20 years of expertise in residential brokerage to Fathom Realty, the place he’s been appointed vp of operations, the corporate introduced Thursday.
Samantha Giuggio
“Andrew’s expertise, knowledge, and positive energy align perfectly with our vision and will drive us toward our goals,” Fathom Realty President Samantha Giuggio stated, in an announcement. “With his leadership, we are confident in our continued journey to becoming the top choice for agents and clients in the country.”
Having Shock oversee operations will permit DeJane Kerr, Fathom Realty’s senior vp of compliance, to give attention to brokerage compliance, the corporate stated — an organizational change that “reflects Fathom Realty’s commitment to driving growth and enhancing efficiency.”
Final month, mother or father firm Fathom Holdings introduced Giuggio, previously COO of Fathom Realty, was being promoted to president of Fathom Realty and COO of the mother or father firm. Former Fathom Holdings COO Jon Gwin was named chief income officer, a newly created place.
Shock spent 7 1/2 years at eXp Realty, the place he was a delegated managing dealer in Sarasota, Florida, for two 1/2 years earlier than turning into eXp’s director of brokerage operations, a place he held till Could.
A graduate of The College of Toledo, Shock had beforehand labored as a RE/MAX dealer in Ohio for practically 20 years, based on his LinkedIn bio.
Andrew Shock
“Throughout my career, I’ve been driven by a commitment to revolutionizing real estate, and Fathom’s values strongly reflect that vision,” Shock stated in an announcement. “Together, we’re creating a platform where agents can grow, thrive, and achieve lasting success in a supportive environment.”
Cary, North Carolina-based Fathom Holdings generates greater than 90 p.c of its income by means of its actual property brokerage enterprise however can also be a supplier of mortgages, title insurance coverage and know-how for brokers.
Since elevating $31.3 million in a 2020 preliminary public providing and occurring an acquisition spree to broaden the scope of its enterprise, rising mortgage charges and slowing gross sales have stored the corporate within the crimson. In reporting an $8.1 million third quarter loss, Fathom Holdings stated it had racked up $86.9 million in cumulative losses to this point.
However the brokerage’s flat-fee fee and revenue-sharing mannequin have helped it proceed to develop its agent depend to 12,383 brokers as of Sept. 30, up 9 p.c from a yr in the past, whilst transaction quantity dropped by 9 p.c to 9,331.
After elevating $5 million in funding in September to speed up its progress plans, final month Fathom Realty introduced the acquisition of My Residence Group, the third-biggest actual property brokerage in Arizona with 2,200 brokers.
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