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Douglas Elliman Inc. (NYSE: DOUG) stands as one of the largest residential real estate brokerage companies in the United States. Established in 1911, the company has grown to become the nation’s fourth-largest real estate firm, boasting over $18 billion in sales volume in 2014. Currently, Douglas Elliman operates a network of more than 6,000 agents across 80+ offices in prime locations including Manhattan, Brooklyn, Queens, Long Island, Westchester and Putnam Counties, Fairfield County, CT, South Florida, California, and Aspen, CO.
Douglas Elliman offers a comprehensive suite of real estate services to deliver exceptional consumer experiences. These services span sales and rentals, mortgage solutions, new development marketing, property management, and title insurance. The company is structured into two main operating segments: Real Estate Brokerage and Corporate and Other.
In addition to its robust domestic presence, Douglas Elliman has forged a strategic partnership with Knight Frank Residential, extending its powerful network to 43 countries across six continents. This global alliance enhances the company's reach and capabilities in international real estate markets.
Recent achievements include the launch of a new affiliate partner for luxury real estate in the Bahamas through a partnership with The Isles Group. This move marks Douglas Elliman's entry into the Caribbean property market and expands Knight Frank's footprint.
The company continues to adapt and innovate within the real estate sector by investing in early-stage, disruptive property technology (PropTech) solutions. Douglas Elliman’s commitment to leveraging technology underscores its dedication to constant innovation and improvement.
Financially, Douglas Elliman generates revenue through commissions and brokerage fees from existing home sales, development marketing, property management, and title services. The firm remains committed to delivering high-quality real estate services and maintaining its status as a leader in the industry.
Douglas Elliman Inc. (NYSE: DOUG) has entered into a settlement agreement to resolve a nationwide class action litigation regarding real estate brokerage fees. The company will pay $7.75 million upfront and additional contingent payments totaling $10 million by 2027. The settlement does not imply liability or validity of claims, with changes in business practices included. The agreement aims to reduce legal costs, demonstrating the company's commitment to stability and growth.
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