Douglas Elliman is breaking into the home loan business.
The brokerage is launching its own mortgage platform, known as Elliman Capital, developed in partnership with Associated Mortgage Bankers, the firm announced on Monday. The company will debut the platform in Florida first, with plans to roll out the initiative to other states where it operates.
“We’re creating an unprecedented level of convenience and oversight to the entire real estate transaction process,” CEO Michael Liebowitz said in a statement. “Our clients will benefit from competitive rates, diverse loan products, and the seamless integration that only comes from working with a single, trusted source for both their real estate and financing needs.”
The move comes as residential brokerages have doubled down on efforts to pad their bottom lines with new lines of business outside of selling homes, as a decline in deals pushed many into the red. When Liebowitz took over the company last year, he did so with a promise to diversify its revenue streams through ancillary businesses like staging, escrow and insurance.
To run the mortgage platform, Elliman tapped James Bender, a former associate with Wall Street Mortgage Bankers who has served as an agent with the brokerage since 2018. Before heading up Elliman Capital, Bender, who’s based in South Florida, was vice president with Clear Path Mortgage and Vice President of Sprout Mortgage, according to his LinkedIn.
The platform will offer a number of different loan types, including jumbo loans, construction loans, bridge loans and commercial lending, among others.
Last month, Elliman ended its 15-year partnership with London-based Knight Frank with plans to expand its business internationally under the banner Elliman International. The announcement came after Liebowitz said one of his priorities in his new role would be to take the brand international.
Elliman finished the first quarter of this year with a $6 million loss, a significant improvement over the $42 million loss it posted in the same quarter in 2024. The firm also grew its revenue and ended the quarter with $137 million in cash.
Earlier this year, residential giant Anywhere Real Estate reportedly offered to takeover Elliman in a merger offer that valued the company at $4 a share, Bloomberg reported. The rumors sent Elliman’s stock price climbing, with shares rising 35 percent in a single day, though the firm is not likely to accept the offer.
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