NEW YORK, April 2, 2018 /PRNewswire/ -- Douglas Elliman Real Estate is now the third largest residential real estate brokerage by sales volume in the United States, according to a survey conducted by Real Trends, a leading real estate information and analytics company.
"I am enormously proud of our agents and our national leadership team for helping Elliman achieve this momentous milestone in our 107-year history," said Howard M. Lorber, Chairman, Douglas Elliman Realty, LLC. "I am especially proud of the fact that Douglas Elliman continues to thrive as a culture dedicated to fostering close personal connections and entrepreneurialism, usually only found in smaller brokerages."
Douglas Elliman was founded in New York City in 1911 and is the only brokerage in the top three that is independently operated and not a franchise.
"The Elliman family made headlines in 2017 with record-breaking sales, exciting new and returning agent recruits and continued expansion throughout the United States," said Douglas Elliman President and COO Scott Durkin, who oversaw successful acquisitions in California of Teles Properties and Otis & Ahearn in Massachusetts. "We are honored by this news and look forward to even greater growth and success in 2018."
An astounding 43,336 deals were performed by Douglas Elliman agents in 2017 for a total sales volume of $26.1 billion, an uptick of six percent from $24.6 billion in 2016. The firm expanded in California, Florida, Massachusetts, Brooklyn, Long Island and the Hamptons and now boasts over 7,000 agents in 113 offices nationwide.
Douglas Elliman had six of the top 10 sales in New York City for 2017 and secured the number one residential sale for a second year in a row. The top sales were 432 Park Avenue, #92, 92B, 93B for $91.1 million, #83 for $65.2 million, 15 Central Park West, #PH40B for $50.6 million, 56 Leonard Street #PH60 for $47.9 million, San Remo, #2627C for $45 million, and the penthouse atop the Pierre for $44 million.
In almost all the regions in which Elliman operates, sales volume increased a significant amount year-over-year, including Colorado by 140 percent, Florida by 34 percent, the Hamptons by 20 percent, California by 16 percent and on Long Island, where Elliman is number one, by four percent.
In 2018, Douglas Elliman plans further expansion in each of its major markets as it readies to launch several new technological and marketing initiatives designed to enhance the agent experience, including its widely-reported listings and search platforms being designed in partnership with StreetEasy.
About Douglas Elliman Real Estate
Established in 1911, Douglas Elliman Real Estate is the largest brokerage in the New York Metropolitan area and the third largest residential real estate company nationwide. With more than 7,000 agents, the company operates approximately 113 offices in New York City, Long Island, The Hamptons, Westchester, Connecticut, New Jersey, Florida, California, Colorado and Massachusetts. Moreover, Douglas Elliman has a strategic global alliance with London-based Knight Frank Residential for business in the worldwide luxury markets spanning 60 countries and six continents. The company also controls a portfolio of real estate services including Douglas Elliman Development Marketing; Douglas Elliman Property Management and Douglas Elliman Commercial. For more information on Douglas Elliman as well as expert commentary on emerging trends in the real estate industry, please visit elliman.com.
SOURCE Douglas Elliman Real Estate