Douglas Elliman Inc. Q3 FY2025 earnings call

• Focused on building a pure-play luxury brokerage and deepening leadership in the luxury segment. - Launched Elliman International, expanding into France with plans to expand further in Paris and the French Alps. - Sold the property management division for $85 million, expecting an after-tax gain of approximately $75 million, which sharpens focus on luxury residential brokerage. - Introduced Elliman Capital, an in-house mortgage platform. - Launched the Estate, Trust & Probate division and Elliman Private Listings. - Launched Elli AI, an AI-powered assistant app for agents, and the Elliman Inspirations platform for personalized home discovery.

For the first 9 months of 2025, revenues increased by 5% year-over-year to $787.6 million. The development marketing division's revenues went from $42.3 million in the first 9 months of 2024 to $59.5 million in 2025. Revenues from existing home sales in the Northeast market rose by $12.4 million or 9% compared to the first 9 months of 2024. Year-to-date, the average price per transaction was $1.87 million, up from $1.68 million in the same period last year. The development marketing division has an active pipeline totaling $25.5 billion of gross transaction value, with approximately $16.6 billion in Florida alone.

• 2026 is expected to be a new growth phase as 2025's investments start to bear fruit. - Confident that focus on innovation, international expansion, and luxury service will drive sustainable value for clients, agents, and stockholders.

• Economic pressures including geopolitical uncertainties. - Continuation of elevated mortgage rates compared to recent history.