Get ready to take bold steps forward at Inman Connect New York, where you can refine your business model, master new technologies, and capitalize on the next market surge. The Next Chapter is about to begin. Be part of it. Join us and thousands of real estate leaders from Jan. 22-24, 2025.
When you find something that feels right, it’s a good idea to stick with it.
Stephen Kotler, CEO of Douglas Elliman’s Western Region brokerage, has stuck with the firm for over three decades, starting as an agent in New York and rising through the ranks to his current leadership position. Kotler oversees the firm’s brokerage operations in California, Colorado, Texas, and Nevada.
Despite spending most of his time in Texas, Kotler travels to Aspen and LA to oversee operations there as well. He recently shared insights with Inman ahead of his appearance at Inman’s Connect Austin conference in October.
Kotler discussed his day-to-day responsibilities at Elliman, industry challenges, and the impact (or lack thereof) of election years on the real estate market. Read on for more of Kotler’s insights, edited for brevity and clarity.
Inman: What do you do as head of Elliman’s Western Region brokerage operations?
Stephen Kotler: My role encompasses overseeing brokerage operations in California, Colorado, Texas, and Nevada. I focus on agent growth, client retention, recruitment, and development marketing in these states. While I spend most of my time in Texas, I also visit our operations in Aspen and LA, ensuring the business runs smoothly.
Interesting. So what are your goals in the next year for the Western region?
My goals include enhancing client retention, recruiting top talent, and fostering growth. We aim to identify and develop promising individuals, not just top producers, to build successful businesses within our company. Additionally, in development marketing, we seek opportunities to leverage our expertise and reputation as a leading firm in the industry.
When we enter a development project, developers often involve us in the planning process from the beginning, discussing project details like amenities and architects. Our goal for the next year is to secure more opportunities with developers who want to work with us on selling their projects, as well as establish strong relationships with developers in new cities where we are expanding.
In terms of industry changes post-settlement, agents are facing challenges in adapting to the evolving market. Those who cannot keep up with the new trends may transition to other careers, leading to potential attrition in the market. To mitigate this, brokerages should focus on recruiting more business to increase revenue and volume.
At the upcoming event in Austin, I will be moderating a panel on new urban development trends. I am excited to hear insights from industry experts like Brad Stein and Vipin Nambiar on how urban living is being redefined by trends and economics. Dallas, in particular, is experiencing significant growth and transformation, especially in areas like the design district.
Regarding the impact of the election on business, historical data suggests that election years do not significantly affect market activity. While there may be a temporary pause in the market, brokers who adapt and work diligently can still succeed. As interest rates decrease, we may see more urgency in the market, leading to increased trading activity.
In the Austin market, there have been challenges in the first and second quarters due to oversupply and other factors. However, recent data shows a surge in activity, indicating a potential turnaround in the market. Overall, we anticipate a slight increase in business towards the end of next year, with the market gradually becoming busier. Explore the latest updates in the world of luxury real estate with our weekly newsletter, delivered every Friday. Stay informed about the biggest news and trends shaping high-end properties around the globe. Subscribe now to stay ahead of the curve.
To subscribe, email Lillian Dickerson.
Don’t miss out on exclusive insights and market analysis – sign up today!