Douglas Elliman Inc
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Real Estate : Real Estate Management & Development | Small Cap Value
Company profile

Douglas Elliman Inc. is engaged in real estate services and property technology investment business. It is engaged in investing in early-stage, disruptive property technology (PropTech) solutions and companies and provides other real estate services, including development marketing, property management and settlement and escrow services in select markets. Its segments include Real Estate Brokerage and Corporate and other. The Real Estate Brokerage segment includes residential real estate brokerage services through its subsidiary, Douglas Elliman Realty, which operates the residential brokerage company in the New York metropolitan area and also conducts residential real estate brokerage operations in Florida, California, Texas, Colorado, Nevada, Massachusetts, Connecticut, and others. The Corporate and other segment is engaged in the operations of its holding company as well as its investment business that invests in select PropTech opportunities through, New Valley Ventures subsidiary.

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Today's volume of 459,086 shares is on pace to be much lighter than DOUG's 10-day average volume of 899,153 shares.


Douglas Elliman Signs The Altman Brothers to New, Multi-Year Deal

1:35 pm ET March 22, 2023 (PR Newswire) Print

The powerhouse Southern California team has closed over $2.5 billion in transactions in the last 24 months

Douglas Elliman Realty, one of the largest independent residential real estate brokerages in the United States, announced today that The Altman Brothers, who consistently rank as one of the top-producing teams in the United States and stars of Bravo's Million Dollar Listing Los Angeles, have signed a new, multi-year arrangement with the firm. Helmed by Josh, Matt and Heather Altman, the team has transacted more than $3.6 billion from 2021 to date and closed over $2.5 billionin the last 24 months, averaging more than $100million per month in sales.

"The Altman Brothers represent the pinnacle of success and we are fortunate to count them as Elliman agents," said Howard M. Lorber, Executive Chairman of Douglas Elliman. "Josh, Matt and Heather are known for selling and marketing some of the world's most iconic properties. Their uncompromising professionalism and tenacious drive have fueled their rapid rise to become one of the most successful teams in Los Angeles real estate, year after year. We look forward to their continued growth and success at Douglas Elliman."

"With over two billion dollars in sales volume for two consecutive years, Josh, Matt and Heather have blazed new trails and reached rare heights in residential real estate sales," said Scott Durkin, President and Chief Executive Officer of Douglas Elliman Realty. "With million-dollar transactions on their table each day, they have changed the game of Los Angeles real estate. Their extensive market knowledge, experience and connections, both nationally and globally, have propelled their massive success, and I am confident that they will continue to raise the bar in the years to come."

The Altman Brothers Team has achieved phenomenal success since joining Douglas Elliman in 2015. Operating in markets across Southern California, the team has consistently ranked among the company's top teams in sales volume and gross commission income (GCI). Before the end of the first quarter of 2023, the team already has more than $713 million in active listings.

"We joined Elliman with a small but mighty team of six members a few years ago," said Josh Altman. "Backed by a stellar brokerage with an international presence and exceptional resources in technology, marketing and public relations, we have grown into a formidable team with a global presence, a reputation for dedicated client service and a proven record of high-profile sales."

"We were among the first agents to join Douglas Elliman when it expanded to California," said Matt Altman. "As the firm's Western Region grew, we grew right along with it. Now, as we enter this new phase of our journey with Elliman, we are truly just getting started!"

After totaling more than $6 billion in career transactions, The Altman Brothers Team was named Douglas Elliman's number one "large team" nationwide in the 2023 Ellie Awards, which honors the firm's top-producing agents for 2022.

The Altman Brothers have taken Orange County by storm, holding the record for the highest sale for 2022 at $55 million in Crystal Cove and the third highest sale ever in Orange County. The team will soon open a brand-new flagship office at 3700 East Coast Highway in Corona Del Mar, their second standalone location in California and a new hub for the growing team of agents serving Orange County. In the meantime, the team has taken over an office space formerly used by real estate stalwart John McMonigle.

"The Altmans are a force to reckon with and it has been a privilege to partner with Josh, Matt and Heather as they continue to scale their business to even greater heights," said Stephen H. Kotler, CEO of Douglas Elliman Realty's Western Region. "I am extremely proud of them and look forward to our next chapter full of more expansion, more price records and more personal bests."

"Douglas Elliman is a class apart when it comes to fostering and supporting teams like ours," said Heather Altman. "We are constantly empowered with the best tools, the best branding and a fabulous leadership team with an agent-first attitude. Elliman is our home, and we look forward to our continued, shared success."

About Douglas Elliman Inc.Douglas Elliman Inc. (NYSE:DOUG, "Douglas Elliman") owns Douglas Elliman Realty, LLC, which is one of the largest residential brokerage companies inthe United Stateswith operations inNew York,Florida,California,Texas,Colorado,Nevada,Massachusetts,Connecticut,Maryland,VirginiaandWashington, D.C.In addition,Douglas Ellimansources, uses and invests in early-stage, disruptive property technology ("PropTech") solutions and companies and provides other real estate services, including development marketing, property management and settlement and escrow services in select markets. Additional information concerning Douglas Elliman Realty is available on its website,

Investors and others should note that we may post information about Douglas Elliman Inc. on our website atinvestors.elliman.comor, if applicable, on our accounts on Facebook, Instagram, LinkedIn, TikTok, Twitter, YouTube or other social media platforms. It is possible that the postings or releases could include information deemed to be material information. Therefore, we encourage investors, the media and others interested inDouglas Ellimanto review the information we post on our website atinvestors.elliman.comand on our social media accounts.

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