Prudential Douglas Elliman is partnering with United Kingdom-based real estate agency and consulting firm Knight Frank Residential in a bid to promote exclusive properties among their combined international client pools and boost sales. European and other global properties should begin to appear on Elliman’s website in the coming weeks, according to Crain’s.
Elliman CEO Dottie Herman said: “There’s a high percentage of international buyers who like to invest in New York real estate. They feel it’s a good investment.”
The brokerage is already close to benefiting from the arrangement. Herman said a $11.8 million, 10-room Park Avenue co-op is close to going into contract with a foreign buyer.
Elliman is not the only city-based brokerage to forge partnerships in order to boost revenue. Last week Town Residential joined forces with property manager Cooper Square Realty to capture more clients.