Prudential Douglas Elliman will open a new office in Boca Raton, its eighth in South Florida, Crain’s reported. The expansion of the massive residential brokerage comes as more of Elliman’s New York clients shop for retirement and second homes in South Florida and as more foreign investors buy in both the New York and South Florida markets. Vanessa Grout, head of Douglas Elliman in Florida, will oversee the new office slated to open May 31.
“We strategically pick markets,” said Dottie Herman, CEO of Douglas Elliman. “We go where our clients live or go. We want to be able to service the needs of our clients whether they are buying second homes or retiring in Florida.”
Douglas Elliman began operations in South Florida two years ago by opening a Miami office. With the opening, Elliman’s Sunshine State footprint will span eight offices, including one opened last December in Palm Beach, and 180 agents. [Crain’s]