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Expanding One of the Nation’s Top Four Residential Brokerage Firms into the West

From “For Sale” signs across NYC’s Upper Eastside to celebrity agents on TV’s famed “Million Dollar Listing,” the Douglas Elliman (DE) name is linked to highly sought-after agents and extremely coveted listings. Synonymous with real estate dominance on the East Coast, the firm wanted to head west and do the same. The firm tapped THO to join the team and make this happen.

The Challenge

THO needed to leverage Douglas Elliman’s East Coast reputation to firmly establish, and quickly grow, roots in the West. The goal: expand its reputation and recruit and retain the top agents in both Colorado and California to bring listings and clients to their roster.

The Solution

Attracting and retaining top talent in the industry became the primary focus of the THO-constructed public relations program. The plan was designed to elevate the brand using success stories, agent profiles, and firm-differentiating highlights, making it ‘the place to be’ for successful, results-driven agents.  

THO implemented a multi-pronged approach focusing on People, Property & Platform using the following strategies:   

  • Promote existing, significantly outstanding listings with historical, architectural, or celebrity notoriety;
  • Leverage senior level market expertise to establish DE executives as credible, knowledgeable and seasoned real estate experts;
  • Focus on highlighting the firm’s core value propositions, directly connecting the firm to agents possibly seeking a new home; and
  • Maximize community engagement at high-profile events like Jazz Aspen Snowmass, Evening on the Beach and other Elliman Arts initiatives to accentuate their community involvement.

Results

THO’s initial launch into the market resulted in more than 400 million impressions for Douglas Elliman in nationally prominent outlets such as The Wall St. Journal, The Hollywood Reporter, Forbes, Bloomberg Pursuits, Architectural Digest and more. This program solidified the firm’s reputation as one of the top brokerage firms in both local and national markets.

THO secured profiles and interviews which allowed Douglas Elliman agents to speak to both their actual listings, and their expertise in key neighborhoods. Beyond agent interviews and specific listings, THO promoted numerous notable properties and high-dollar Douglas Elliman transactions, one of which was the sale of a $90 million Holmby Hills estate, the second highest residential sale in LA at the time. THO also garnered significant coverage surrounding Douglas Elliman’s quarterly market reports for the Los Angeles and Aspen regions, guaranteeing the brokerage’s role as a top industry resource.

Takeaways

In well-established markets where numerous brokerages are entrenched in a high-stakes real estate scene, a newcomer could get lost in the shuffle. These few, but important steps can help ensure success:

  1. Develop a brand’s unified voice
  2. Engage and support internal and external company stakeholders
  3. Establish consistent methods for sharing market knowledge and expertise

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The Hoyt Organization

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