Douglas Elliman Realty is launching a division for land, farm and ranch sales with Texas as its first stop.
The New York-based firm announced Tuesday that the newly incorporated Elliman Farm & Ranch will serve clients looking for additional property within driving distance of their homes, according to the Dallas Morning News.
“Given the challenges of the past two years, many of our buyers are looking for more than just a second home — they want the sense of freedom and a deeper connection with the land that farm and ranch properties offer,” said Scott Durkin, CEO of Douglas Elliman Realty, in a statement.
“Drawing on our experience with equestrian properties, we created Elliman Farm & Ranch to serve a growing clientele for whom luxury is having room to range and sweeping vistas to enjoy majestic sunsets.”
This is not the first time Douglas Elliman has planted its flag in the Dallas market. About a year ago, the firm announced its first Dallas office just after its spotlight on Bravo’s Million Dollar Listing.
Two local agencies specializing in ranches, Capitol Ranch Real Estate and Legacy Ranch Group, will be partnering with the New York firm. Based in the city of Brenham between Austin and Houston, Capitol Ranch is led by husband-and-wife team Cody and Tracy Maxwell. With 16 agents – compared with Douglas Elliman’s 70– the agency has had more than $500 million in sales since being founded in 2011.
“Dallas is the largest luxury real estate market in the state of Texas,” Jacob Sudhoff, CEO of Douglas Elliman’s Texas operations, said in a statement at the time.
Legacy Ranch Group, based in Austin and San Antonio, specializes in luxury ranches across the state.
In Texas, rural land sales were up almost 18% in 2021, with more than 846,000 acres of rural land changing hands, according to the Texas Real Estate Research Center at Texas A&M University.
[Dallas Morning News] – Maddy Sperling