Rick Sharga, the RealtyTrac senior vice president who was often the company’s public face in news reports about its widely followed foreclosure reports, has left the company after seven years to take on a similar role with Carrington Mortgage Holdings.
Sharga will be responsible for developing branding and marketing strategies for a stable of Carrington companies that not only invest in and service mortgages but provide real estate brokerage, property management and settlement services.
"Part of my mission is to communicate all of the offerings the company has to various audiences," ranging from institutional investors and real real estate brokers and agents to consumers who are in the market for homes, Sharga said.
Steve Ozonian, the former CEO of Tree.com’s RealEstate.com division, was appointed chief real estate officer of Santa Ana, Calif.-based Carrington Holding Co. LLC in April. Making the move with Ozonian was RealEstate.com executive Kurt Gleeson, who is now senior vice president for Carrington’s real estate brokerage, Atlantic & Pacific Real Estate LLC.
Atlantic & Pacific took over the leases of RealEstate.com, Realtors brokerage offices in Stoneham, Mass.; Conyers, Ga.; Clearwater, Fla.; Orlando, Fla.; Mt Laurel, N.J.; McLean, Va.; Phoenix; Tucson, Ariz.; King of Prussia, Pa.; Dover, Del.; and Oak Brook, Ill.
Tree.com sold the RealEstate.com domain and about 400 others to MarketLeader Inc. for $8.25 million this month. The sale included software and content necessary to continue operating the website for a network of more than 250 real estate broker customers.
In addition to his many appearances in the news media, at RealtyTrac Sharga briefed government organizations including the Federal Reserve and Senate Banking Committee on foreclosure trends. He also conducted foreclosure training for leading real estate franchisors such as Re/Max, Prudential and Keller Williams.
"Rick brings a skill set that is critical at this point in our company’s growth," said Carrington Holding Co. CEO Bruce Rose in a statement. "We believe that Carrington’s success story is one of the best kept secrets in the industry," and that Sharga can help raise the company’s public profile.
Through its affiliated companies, Carrington Capital Management LLC and Carrington Mortgage Services LLC, Carrington is an investor in mortgage-backed securities and a servicer of home loans. Its brokerage company, Atlantic & Pacific, primarily handles real estate owned (REO) properties.
Other Carrington affiliates manage properties and provide settlement services. Those companies include Carrington Property Services LLC, White Van Real Estate Services LP, Telsi Escrow Inc., and Telsi Real Estate Solutions LLC.
A spokesman for RealtyTrac called Sharga’s departure amicable, and said the company would divide his responsibilities among current employees rather than hire a replacement.
"We’re grateful for all of Rick’s hard work helping to build RealtyTrac into a powerful brand while also building a strong team that is now well-positioned to continue moving the company forward," said RealtyTrac CEO Jim Saccacio in a statement.