Under CEO Liebowitz's leadership, Elliman has reported improved financial results for its first full quarter, significantly narrowing losses and increasing revenue to $253 million from $200 million last year. This upward trend can be attributed to a resurgence in the housing market and a prior cost-cutting strategy, which included reducing expenses by $20 million in 2024. Liebowitz aims to steer the firm in a new direction, indicating a transformational phase for Douglas Elliman post-Lorber's retirement.
In his new role, Liebowitz promised to take the firm "in a different direction" after it had stacked up quarterly losses.
The firm has notched revenue gains over the last few months, including closing out 2024 with $1 billion up from $960 million in 2023.
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