Knight Frank has ended its alliance with US-based real estate brokerage Douglas Elliman, which announced earlier this week that it was launching its own international business.
The two businesses formed a formal partnership in 2009 and celebrated its 15-year anniversary in September last year.
Yesterday [2 June], Douglas Elliman announced plans to launch its own global business called Elliman International. The company said the strategic initiative would enable it to “directly serve its agents, clients, and developers’ growing international real estate needs without limited third-party intermediaries”.
The company’s expansion will begin with immediate activation of core services for existing clients, followed by strategic recruitment of teams and individual agents who will operate under the Elliman banner, with physical office locations in key markets planned.
Elliman International’s initial focus will be on high-demand luxury destinations in Latin America, the Middle East, Europe, Asia Pacific and other emerging wealth centres.
Michael S Liebowitz, president and CEO of Douglas Elliman, said: “Elliman International represents the natural progression of our legacy as America’s premier luxury real estate brokerage now becoming global. From my first day as CEO, I recognised the need to establish our own international presence that preserves the high-level of service our clients expect. This isn’t just an expansion -it’s a transformation that positions Douglas Elliman as the truly global brand it is.”
Susan de França, president and CEO of Douglas Elliman development marketing, added: “With the ever-evolving international landscape, our clients and developers increasingly view real estate as a global portfolio, not confined by borders. Unlike many of our competitors, we will not be reliant on partnerships to define us – we are forging ahead with our own global identity that reflects our commitment to and reputation for excellence at every touchpoint.”
In a statement, Knight Frank said: “Knight Frank and Douglas Elliman have agreed mutually to conclude their alliance. Both companies maintain a constructive relationship and look forward to continued success together on a referral basis. Our commitment to North America remains absolute and we are currently evaluating a number of opportunities, which we believe will support our long-term ambitions in the region.”
