Douglas Elliman Goes All-In on Las Vegas

Rhea-AI Summary

Douglas Elliman Realty has expanded its Western Region by opening a new office in Las Vegas, Nevada, enhancing its presence in low-tax states. This addition increases the number of states in the Western Region to four, including California, Colorado, and Texas. Executive Chairman Howard M. Lorber emphasized the company's commitment to client demand for properties in these regions. The firm has also welcomed top realtor Avi Dan-Goor, who will leverage his market expertise to boost operations. The company anticipates bringing over $70 million in listing inventory within the first two months.

Positive

• Expansion into Nevada adds a new office in Las Vegas, increasing market presence.
• Demonstrates commitment to client demand in low-tax states.
• Anticipated listing inventory over $70 million within two months.

Negative

• None.

Leading National Brokerage Expands Western Region to Low Tax State of Nevada; Top Realtor Avi Dan-Goor Joins the Firm

LAS VEGAS, May 17, 2022 /PRNewswire/ -- Douglas Elliman Realty, one of the largest independent residential real estate brokerages in the United States, announced today an expansion of its Western Region division to include Nevada. The company is opening a new office located in the Downtown Summerlin urban center of Las Vegas.

The addition of Nevada brings the number of states in Douglas Elliman's Western Region to four, alongside California, Colorado and Texas, and demonstrates the company's commitment to meeting client demand for properties in the region.

"Our guiding principle at Douglas Elliman has always been to be where our customers want to be," said Howard M. Lorber, Executive Chairman, Douglas Elliman. "Not only do they want the kinds of properties you can only find in this region, but they also want to be in low- and no-tax states like Nevada and Texas. Our expansion into Nevada strengthens our position in the Western Region and allows our agents to thrive in this booming market."

"In the months since we began a new chapter as an independent, publicly traded company, we have been flawlessly executing a growth strategy in Texas, Florida, New England and now Nevada," said Scott Durkin, CEO, Douglas Elliman Realty. "With its status as a low-tax state, prime for residential growth, it is fitting that Nevada is the newest addition to our national footprint, and we look forward to serving our community of clients in the state."

"Like all of the other regions and markets we have expanded into, Nevada offers a certain lifestyle that our clients crave," said Stephen Kotler, CEO of Douglas Elliman Realty's Western Region. "Whether they are looking for the energy and elegance of Las Vegas or the freedom and room to roam on an expansive estate, we have the network, the insights and now the agents on the ground to help them find it."

The company also announced that Avi Dan-Goor, one of the leading real estate sales executives in Southern Nevada, has joined Douglas Elliman. Dan-Goor and his team will be based out of the brokerage's Las Vegas office.

"Avi's market expertise and his reputation for providing bespoke service to his clients is unassailable," said Assaf Sinai, Executive Manager of Sales and Nevada Broker of Record, Douglas Elliman. "We are proud to welcome him and his team to the Elliman family."

Douglas Elliman is poised to bring more than $70 million in listing inventory over the first two months.

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 in the New York metropolitan area, which includes New York City, Long Island, Westchester, Connecticut, New Jersey and the Hamptons, and the sixth largest in the U.S., with operations in California, Colorado, Texas, Florida, Massachusetts and Nevada. In addition, Douglas Elliman sources, 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 is available on its website, www.elliman.com.

Investors and others should note that we may post information about Douglas Elliman on our website at www.elliman.com or, 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 in Douglas Elliman to review the information we post on our website at www.elliman.com and on our social media accounts.

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SOURCE Douglas Elliman Realty

FAQ

What recent expansion did Douglas Elliman announce?

Douglas Elliman announced the opening of a new office in Las Vegas, Nevada, expanding its Western Region.

What does the expansion into Nevada mean for Douglas Elliman?

The expansion increases Douglas Elliman's presence in low-tax states, responding to client demand for properties.

Who is Avi Dan-Goor and what is his role in the expansion?

Avi Dan-Goor is a leading realtor in Southern Nevada who joined Douglas Elliman to enhance operations in the Las Vegas office.

How much listing inventory does Douglas Elliman expect to bring in Nevada?

Douglas Elliman expects to bring in over $70 million in listing inventory within the first two months.

How many states are now included in Douglas Elliman's Western Region?

With the addition of Nevada, Douglas Elliman's Western Region now includes four states: California, Colorado, Texas, and Nevada.