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Former eXp Realty operations director Andrew Shock is taking his two decades of experience in residential brokerage to Fathom Realty, where he’s been appointed vice president of operations, the company announced 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 said, in a statement. “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 allow DeJane Kerr, Fathom Realty’s senior vice president of compliance, to focus on brokerage compliance, the company said — an organizational change that “reflects Fathom Realty’s commitment to driving growth and enhancing efficiency.”
Last month, parent company Fathom Holdings announced Giuggio, formerly COO of Fathom Realty, was being promoted to president of Fathom Realty and COO of the parent company. Former Fathom Holdings COO Jon Gwin was 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 brokerage operations, a position he held until May.
A graduate of The University of Toledo, Shock had previously worked as a RE/MAX broker in Ohio for nearly two decades, according to 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 said in a statement. “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 more than 90 percent of its revenue through its real estate brokerage business but is also a provider of mortgages, title insurance and technology for agents.
Since raising $31.3 million in a 2020 initial public offering and going on an acquisition spree to broaden the scope of its business, rising mortgage rates and slowing sales have kept the company in the red. In reporting an $8.1 million third quarter loss, Fathom Holdings said it had racked up $86.9 million in cumulative losses to date.
But the brokerage’s flat-fee commission and revenue-sharing model have helped it continue to grow its agent count to 12,383 agents as of Sept. 30, up 9 percent from a year ago, even as transaction volume dropped by 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, the third-biggest real estate brokerage in Arizona with 2,200 agents.
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