Organizational change will enable DeJane Kerr, Fathom Realty’s senior vp of compliance, to deal with brokerage compliance, guardian firm says.
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Former eXp Realty operations director Andrew Shock is taking his twenty 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 experience, data, and constructive vitality align completely with our imaginative and prescient and can drive us towards our targets,” Fathom Realty President Samantha Giuggio stated, in a press release. “Together with his management, we’re assured in our continued journey to turning into the best choice for brokers and shoppers within the nation.”
Having Shock oversee operations will enable DeJane Kerr, Fathom Realty’s senior vp of compliance, to deal with brokerage compliance, the corporate stated — an organizational change that “displays Fathom Realty’s dedication to driving progress and enhancing effectivity.”
Final month, guardian firm Fathom Holdings introduced Giuggio, previously COO of Fathom Realty, was being promoted to president of Fathom Realty and COO of the guardian 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 chosen 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 Might.
A graduate of The College of Toledo, Shock had beforehand labored as a RE/MAX dealer in Ohio for almost twenty years, in line with his LinkedIn bio.
Andrew Shock
“All through my profession, I’ve been pushed by a dedication to revolutionizing actual property, and Fathom’s values strongly replicate that imaginative and prescient,” Shock stated in a press release. “Collectively, we’re making a platform the place brokers can develop, thrive, and obtain lasting success in a supportive atmosphere.”
Cary, North Carolina-based Fathom Holdings generates greater than 90 p.c of its income by way of its actual property brokerage enterprise however can be a supplier of mortgages, title insurance coverage and expertise 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 saved 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 so far.
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 12 months in the past, at the same time as 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 Dwelling Group, the third-biggest actual property brokerage in Arizona with 2,200 brokers.
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