Douglas Elliman formally enters the private listings game
CEO says Elliman is embracing the “power of choice” by providing “private, public, coming-soon, and delayed listing options” with its new exclusive marketplace.
Luxury-focused brokerage Douglas Elliman is getting into the private listings race with the launch of a new exclusive listings platform: Elliman Private Listings.
Why private listings? In the Sept. 24 announcement, the company said that the new "private, invitation-only marketplace" is being offered to provide sellers "with strategic marketing options, market testing, discretion, and altogether elevated service" when listing their property. The platform will serve as a launching point for sellers to exclusively market their home to Elliman's 6,600 agents and their clients before going to the open market.
Opting into the private marketplace will allow sellers to test their asking price, maintain discretion and privacy and engage with serious buyers, Elliman suggested, before executing a "broader launch" and going to the MLS.
What Elliman said: Michael Liebowitz, Douglas Elliman President and CEO, said that the company has "always prioritized the power of choice by providing private, public, coming-soon, and delayed listing options," echoing a pitch that is similar to Compass' 3-phase marketing strategy and its campaign of "seller choice."
"With Elliman Private Listings, we are reaffirming this commitment to our ultra-high-net-worth clients, who know that we understand their unique needs and circumstances. At a pivotal time in our industry, with mass consolidation at play, it is vitally important for sellers to have a trusted partner like Douglas Elliman who truly understands the needs of today's luxury client," he added.
Why the timing matters: The announcement comes just days after Compass announced its plan to acquire leading competitor Anywhere Real Estate — forming a brokerage juggernaut with 340,000 real estate professionals servicing approximately 120 countries and territories. Compass has spent the last year focusing its own brokerage strategy towards exclusive listings, and it's speculated that the residential giant could seek to dramatically expand its private inventory via Anywhere.
As a key player in the luxury space representing ultra-high-net-worth individuals, Elliman has signalled that it is ready to fully enter the private listings game via its new exclusive marketplace. But Elliman not only follows Compass — other big players, such as Howard Hanna, KW GO, and the Compass-owned @properties — have already been actively seeking to control more of their listings, and market share.