Key Takeaways:
– Fathom Holdings has named Marco Fregenal as its new CEO, replacing Joshua Harley.
– Harley endorsed the succession plan and will remain active as the founder and chief evangelist of Fathom.
– Fregenal will continue to serve as Fathom’s CFO until a replacement is found.
– Fathom plans to focus on agent growth, retention, referrals, and ancillary businesses.
– Scott Flanders will replace Harley as chair of the board of directors.
– Fathom was ranked among the biggest movers in the RealTrends 2023 brokerage rankings, with over 10,000 licensed agents and significant transaction sides and sales volume in 2022.
HousingWire:
Fathom Holdings is the latest brokerage to make a significant C-Suite change. The firm announced Monday that it has appointed its current president and chief financial officer Marco Fregenal as CEO.
Fathom confirmed that current CEO and company founder Joshua Harley, who is stepping down from the role and giving up his seat on the board of directors for “family reasons,” endorsed the succession plan.
“It is my honor to announce that Marco Fregenal will be stepping into the role of CEO to help lead Fathom going forward,” Harley said in a statement. “He has far more experience in growing established businesses like ours has become and I am confident in his abilities and thoughtful decision process.”
In addition to his new role as CEO, Fregenal will continue to serve as Fathom’s CFO until a replacement is found. Fregenal has served as Fathom’s CFO since 2012 and as president since 2018. Prior to this, Fregenal also served as Fathom’s chief operating officer from 2012 to 2017. He has also served on the board of directors since 2019.
“I am honored to take the helm at Fathom at this exciting time in the company’s evolution,” Fregenal said in a statement. “My partnership with Josh, dating back to 2012, has been a privilege, and I’m excited to carry forward his legacy by further strengthening the substantial progress we’ve made so far.”
Despite stepping down from his leadership position, Harley noted that he will remain active as Fathom’s founder and chief evangelist. According to the release, Harley will focus on accelerating Fathom’s agent growth, as well as improving its agent retention, referrals and the attach rate for Fathom’s ancillary businesses.
“Founding and leading this remarkable company has been one of the most profound privileges of my life,” Harley said. “My transition to my new role underscores our dedication to bolstering our agent growth initiatives. We remain steadfast in our belief that there is a substantial opportunity ahead of us to capture market share and position Fathom for accelerated growth.”
Fathom also announced that it was appointing independent director Scott Flanders to replace Harley as chair of the board of directors. Flanders has served on the board since August 2022. He has held executive management positions at several public companies, most recently serving as CEO as eHealth, Inc.
“On behalf of the entire Board, I also want to recognize and thank Josh for his invaluable contributions to Fathom’s growth,” Fregenal said in a statement. “Josh has been instrumental in growing Fathom’s presence nationwide, and we’re deeply grateful for his leadership and guidance. We look forward to his continued contributions as Founder and Chief Evangelist and have left the door open for Josh to return to as CEO and Board Chair, at some point in the future.”
Cary, North Carolina based Fathom was among the biggest movers by transaction sides in the RealTrends 2023 brokerage rankings. It generated 44,707 sides in 2022, up 6,273 from 2021. Per the RealTrends rankings, it had over 10,000 licensed agents who averaged $1.55 million in sales volume in 2022.
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Property Chomp’s Take:
Have you heard the latest news about Fathom Holdings? The real estate brokerage has just announced a significant change in its leadership. Marco Fregenal, the current President and CFO of Fathom, has been appointed as the new CEO. This move comes as the company’s founder and former CEO, Joshua Harley, steps down from his position and leaves the board of directors for personal reasons.
Harley, who fully supports the succession plan, expressed his confidence in Fregenal’s abilities and decision-making process. Fregenal has been with Fathom since 2012, serving as CFO and then President in 2018. He will continue to fulfill his role as CFO until a replacement is found. Fregenal’s experience in growing established businesses aligns well with Fathom’s growth trajectory, making him a suitable choice for the CEO position.
In response to his appointment, Fregenal expressed his honor to lead Fathom during this exciting time in the company’s evolution. He acknowledged the privilege of his partnership with Harley and emphasized his commitment to building upon the progress the company has made so far.
Although Harley is stepping down from his leadership role, he will remain actively involved as Fathom’s founder and chief evangelist. His focus will be on accelerating agent growth, improving agent retention, referrals, and enhancing the attach rate for Fathom’s ancillary businesses. This transition underscores Fathom’s dedication to strengthening its agent growth initiatives and capturing a larger share of the market.
To replace Harley as the chair of the board of directors, Fathom has appointed independent director Scott Flanders. Flanders, who has been on the board since August 2022, brings a wealth of executive management experience from his previous roles, including his recent position as CEO of eHealth, Inc.
Fathom has been making significant strides in the real estate industry, as evidenced by its ranking in the RealTrends 2023 brokerage rankings. Based in Cary, North Carolina, Fathom was one of the top movers in terms of transaction sides. In 2022, the company generated 44,707 sides, an increase of 6,273 from the previous year. With over 10,000 licensed agents who achieved an average sales volume of $1.55 million in 2022, Fathom continues to establish a strong presence nationwide.
Fregenal expressed his gratitude to Harley for his invaluable contributions to Fathom’s growth and acknowledged his instrumental role in expanding the company’s reach. The door remains open for Harley to return as CEO and Board Chair in the future, highlighting the company’s appreciation for his leadership and guidance.
With Fregenal at the helm and Harley’s continued involvement, Fathom is well-positioned for accelerated growth. The company remains committed to its mission of capturing market share and solidifying its position in the real estate industry. As Fathom moves forward, it will be exciting to see the impact of this leadership transition and the further progress it will make under Fregenal’s guidance.
