Douglas Elliman Ranks #4 On National Power Broker List
With Over $12 Billion In Closed Sales, Elliman's Local Edge and Powerful Reach Outpace National Firms
NEW YORK, May 7, 2013 /PRNewswire/ -- According to a recent research report produced by REAL Trends, the 500 largest residential real estate brokerage firms in the nation, Douglas Elliman Real Estate ranked number four in 2012 closed sales volume with $12,363,477,447. The top three-ranked brokerages are national entities; Douglas Elliman has offices in New York and South Florida.
"It's a great honor to achieve the number four ranking in such a broad, national survey. My company is focused in just two states, yet we are able to play ball with brokerages literally 10 times our size. Elliman has cornered the market in the regions we service, leveraging our unparalleled reach, and resulting in phenomenal sales activity. The numbers speak for themselves," said Dottie Herman, President and CEO of Douglas Elliman.
"The recovery in housing sales was reflected in the results from the REAL Trends 500," says REAL Trends editor Steve Murray. "There were a record number of firms that closed more than $1 billion in sales and over 1,000 units. Unit sales were up 15.3 percent overall and total sales volume was up 20.7 percent. There were over 1,300 firms that qualified for either the REAL Trends 500 or the Up and Comer list. Many of the firms that had increased unit sales accomplished this through organic growth while merger activity remained slower than in years past. We expect acquisition activity to pick up, however, in the years to come as the market consolidates."
Ms. Herman agrees, noting that the market is only getting stronger as homeowners begin to build more equity and can take advantage of record-low interest rates.
The 2013 REAL Trends 500 is a compilation of a nationwide study of leading residential real estate companies conducted by REAL Trends, the trusted source for useful and timely information. This year's survey represents the most comprehensive collection of data assembled on the leaders of the residential brokerage industry. Numbers are documented by outside accounting firms.
REAL Trends, Inc. is a research, publishing and communication company located in Denver serving the information needs of the residential real estate industry.
About Douglas Elliman Real Estate
Douglas Elliman Real Estate is New York's largest residential brokerage, with over 70 offices in New York City, Long Island, the Hamptons , Westchester/Putnam, and South Florida and more than 4,000 real estate agents and a network of national and international affiliates. They are strategic partners with London-based Knight Frank LLP for residential business in all of their New York markets. Douglas Elliman ranked in the top four of all real estate companies in the nation in 2007, 2008, 2009, 2010, 2011, and 2012. The company also controls a portfolio of real estate services, including Manhattan's largest residential property manager, Douglas Elliman Property Management, as well as DE Title and DE Capital Mortgage. For more information on Douglas Elliman as well as expert commentary on emerging trends in the real estate industry, visit the Douglas Elliman site at www.elliman.com
SOURCE Douglas Elliman Real Estate
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