The news that Howard Lorber was stepping down as chairman and CEO of Douglas Elliman sent shockwaves through the residential real estate industry this week.
Douglas Elliman has been largely quiet beyond announcing the news of Lorber’s exit, which marks the end of a reign as one of the most influential figures in residential real estate.
Elliman, the company he had led since he acquired it in 2003, declined to make any executive available for comment. Several Elliman brokers and rival executives declined to comment on the record.
But The Real Deal spoke to executives and top brokers from Elliman and beyond who chimed in on Lorber’s lasting impact on the top brokerage and the industry.
Corcoran CEO Pam Liebman wished Lorber “nothing but the best in his well-deserved retirement.”
“Over the years, we’ve shared many interesting times and memorable moments,” Liebman said. “One constant throughout was his incredible wit.”
Brown Harris Stevens CEO Bess Freedman remembered a relationship of “friendly competition.”
When top Elliman broker Lisa Simonsen moved to BHS, Freedman said Lorber called her to congratulate the firm, saying “she’s a great hire, you guys are lucky to have her.’
Freedman said that Lorber’s legacy will be one of growth, during which he oversaw Elliman’s acent into a national powerhouse and public company — and that his retirement represents a “sea change for the industry.”
Douglas Elliman broker Frances Katzen lauded Lorber’s time atop Elliman, saying “the base of what was built is indestructible, irrespective of the slander.”
“He would eat your bones for breakfast,” she said. “He changed the entire business model.”
With Lorber’s exit, Katzen said “the old guard has shifted and we’re ready to embrace all of it.”
Elliman broker Dina Goldentayer called Lorber a “real estate guy” at his core.
“He would go on listing appointments with me,” Goldentayer said. “He knew every comp on every top street. He loves real estate.”
“I applaud him if this is his time, for whatever reason,” former Elliman broker Vicky Barron said.
“The industry is changing so fast on every level,” she said. “You need to step aside and let the new thought leaders run with it.”
When Barron had to inform Lorber that she was leaving for Compass, she said Lorber walked her out and gave her a ride from the office. “He was a gentleman,” she said.
“It’s no secret that under his leadership, he had a group of agents that were very dependent on him,” Barron said. “I can imagine those agents are going to feel a void.”
Katherine Kallergis contributed reporting.
Read more
What we know about Elliman’s abrupt transition of power and new CEO
Elliman cuts Vector jet lease amid Lorber’s retirement
