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.