The organizational change will allow DeJane Kerr, senior vice president of Fathom Realty, to focus on brokerage compliance, the parent company said.
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Former eXp Realty director Andrew Shock is taking his two decades of experience in the residential business to Fathom Realty, where he has been named vice president of operations, the company announced Thursday.
Samantha Giuggio
“Andrew’s expertise, experience and strengths are a perfect fit for our vision and will drive us toward our goals,” Fathom Realty President Samantha Giuggio said in a statement. “With his leadership, we are confident in our continued journey to become the leading agent and customer group in the country.”
Having Shock oversee the job will allow DeJane Kerr, Fathom Realty’s senior vice president, to focus on dealing with sellers, the company said — an organizational change that “reflects Fathom Realty’s commitment to driving growth and improving efficiency.”
Last month, parent company Fathom Holdings announced that Giuggio, formerly COO of Fathom Realty, would be promoted to president of Fathom Realty and COO of the parent company. Former Fathom Holdings COO Jon Gwin has been named chief revenue officer, a newly created position.
Shock spent 7 1/2 years at eXp Realty, where he was a designated managing broker in Sarasota, Florida, for 2 1/2 years before becoming eXp’s director of consumer operations, a position he held until May.
A graduate of the University of Toledo, Shock had worked as a RE/MAX salesperson in Ohio for nearly two decades, according to his LinkedIn bio.
Andrew Shock
“Throughout my career, I have been driven by a commitment to transform real estate, and Fathom’s values strongly reflect that vision,” Shock said in a statement. “Together, we are creating a platform where agents can grow, thrive, and achieve lasting success in a supportive environment.”
Fathom Holdings of Cary, North Carolina generates more than 90 percent of its revenue from its real estate business but is also a provider of real estate, title insurance and agent technology.
Since raising $31.3 million in an initial public offering in 2020 and continuing acquisitions to expand its business scope, rising mortgage rates and declining sales have kept the company in the red. In reporting a third-quarter loss of $8.1 million, Fathom Holdings said it had accumulated $86.9 million in consolidated losses year-to-date.
But the brokerage’s commission and profit-sharing model helped it continue to grow its agent count to 12,383 as of Sept. 30, up 9 percent from last year, as transaction volume fell 9 percent to 9,331.
After raising $5 million in funding in September to accelerate its growth plans, last month Fathom Realty announced the acquisition of My Home Group, Arizona’s third-largest real estate brokerage with 2,200 agents.
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