Douglas Elliman’s losses and scandals

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Douglas Elliman’s losses and scandals

Douglas Elliman’s losses and scandals. Douglas Elliman tallied another year of losses as it faced leadership shakeups, lawsuits and scrutiny. 

The firm reported a net loss of $76 million in 2024, up from the $43 million it lost in the previous year. Its operating loss was $69 million, compared to $65 million in 2023. 

With his new role, Liebowitz vowed to focus on improving the company’s performance by diversifying its revenue stream through acquiring ancillary businesses and expanding internationally. He described himself in an interview with Business Insider as “very much an operator” compared to Lorber, who “was not an operational person at all.”

Though Elliman fell further into the red, the company managed to up its revenue to nearly $1 billion in 2024, up from the $960 million it reported the year prior. 

Elliman continued to slash spending last year, continuing a cost-cutting campaign it ramped up in 2023 after rising mortgage rates and low inventory stalled the housing market. The firm reduced its expenses by roughly $20 million in 2024.

The company reported an operating loss of $16 million, less than the $24 million it lost a year ago. 

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Douglas Elliman’s losses and scandals

Elliman’s bad streak worsens with more losses and a shareholder showdown. Inside the brokerage’s troubled summer