Two of the biggest names in residential property, Douglas Elliman Real Estate and Knight Frank Residential, have today announced the launch of a new residential real estate alliance.
The firm’s combined network will now include 400 offices across 52 countries, and nearly 20,000 agents. Douglas Elliman and Knight Frank Residential will jointly market more than $38 billion of prime and super-prime properties priced at $1.5 million or more.
Douglas Elliman and Knight Frank Residential are the fourth largest residential brokerage in the United States and the largest independent residential brokerage in the United Kingdom, respectively.
The alliance will include co-branded offices, select top tier agents, and shared marketing of fine luxury properties, resulting in the largest interactive and connected network for prime and super prime properties in the world.
It will share marketing resources for domestic and international properties of at least $1.5 million through co-branding seven offices across New York City, South Florida, and Los Angeles, which cover the key high net worth markets in the US.
Lord Andrew Hay, Global Head of Knight Frank Residential, said:
“The property market has become increasingly global as the mobility of buyers increases; accordingly, there is now a wider selection of both investor origins and investment destinations. For agents, this trend dictates that it is essential to be best in class in both New York and London in order to provide high net worth clients with the most comprehensive service and access to the best properties globally.”
“The strategic alliance between Knight Frank Residential and Douglas Elliman brings together the two leading agencies in the world’s two most important markets. The aim of the alliance is to provide a single market view, consistent expert advice and exceptional service – whether it be in Park Lane or Park Avenue”
Hay goes on to say:
“What makes the alliance so powerful for both our clients and our brokers, are the deeply etched hallmarks that can only be found in independent property agencies: a ‘client first’ focus, professionalism, a brand that adds value, market leading websites and a shared ethos of building long term relationships. Douglas Elliman stands out a mile in this respect. We only engage with best in class, Douglas Elliman are unquestionably just that.”
With the number of Ultra High Net Worth Individuals* (UHNWIs) set to expand to 215,000 over the next 10 years from the current number of 168,000, according to Knight Frank’s Wealth Report, the alliance will capitalise on this expansion and the prevailing trend for those individuals to own property in London and New York.
Howard M. Lorber, Chairman, Douglas Elliman, said:
“This new global alliance formed by Douglas Elliman and Knight Frank Residential is a testament to our shared history, vision, and commitment to our clientele. With our group of top dedicated agents, the finest international properties, and in-depth global market analysis, we are offering our customers a truly seamless experience whether they’re in Malibu, Manhattan, or Moscow.”
Douglas Elliman and Knight Frank Residential first began their strategic relationship in the 1970’s through international referrals.
Dottie Herman, President & CEO, Douglas Elliman said:
“The strengthening of our relationship with Knight Frank Residential further solidifies Douglas Elliman’s position at the top of the real estate industry through our unique marketing platform, shared market insights, and unmatched ability to connect buyers and sellers on a global scale.”