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Brokers and executives on Howard Lorber’s reign at Douglas Elliman

Umito October 26, 2024

News of Howard Lorber’s resignation as chairman and CEO of Douglas Elliman sent shockwaves through the residential real estate industry this week.

Douglas Elliman has remained largely silent beyond breaking the news of Lorber’s departure, which marks the end of the reign of one of the most influential figures in residential real estate.

Elliman, the company he has led since its acquisition in 2003, declined to reach an executive for comment. Several Elliman brokers and rival executives declined to comment on the filing.

But The real deal spoke with top executives and brokers from Elliman and beyond, who discussed Lorber’s lasting impact on the brokerage industry and the industry.

Corcoran CEO Pam Liebman wished Lorber “nothing but the best in his well-deserved retirement.”

“Over the years, we have shared many interesting and memorable moments,” Liebman said. “One constant was his incredible spirit. »

Bess Freedman, CEO of Brown Harris Stevens, recalled a relationship of “friendly competition.”

When Lisa Simonsen, Elliman’s top broker, joined BHS, Freedman said Lorber called her to congratulate the company, telling her “she’s a great hire, you’re lucky to have her.” .

Freedman said Lorber’s legacy will be one of growth, during which he oversaw Elliman’s evolution into a national powerhouse and public company – and that his retirement represents a “step change for the industry” .

Douglas Elliman broker Frances Katzen praised Lorber’s time at the Elliman summit, saying “the foundation of what has been built is indestructible, regardless of the slander.”

“He would eat your bones for breakfast,” she said. “It changed the whole business model.”

With Lorber’s departure, Katzen said “the old guard has changed and we are ready to accept anything.”

Elliman broker Dina Goldentayer called Lorber a “real estate guy” to his core.

“He kept setting me up on dates,” Goldentayer said. “He knew all the competitions on all the main streets. He loves real estate.

“I applaud him if it’s his time, for whatever reason,” said Vicky Barron, a former Elliman broker.

“The industry is evolving very quickly at all levels,” she said. “You need to step aside and let the new thought leaders take care of it.” »

When Barron had to inform Lorber that she was leaving for Compass, she said Lorber accompanied her and drove her back from the office. “He was a gentleman,” she said.

“It’s no secret that under his leadership he had a group of agents who were very dependent on him,” Barron said. “I can imagine that these officers will feel a void.”

Katherine Kallergis contributed reporting.