New York and the surrounding areas have experienced a shift in executive leadership for a prominent brokerage brand, Douglas Elliman. Dottie Herman stepped down as CEO of the company, with Scott Durkin, the brokerage’s president and chief marketing officer, taking on the role effective immediately.
“It is a thrill to pass the CEO title to my friend Scott Durkin whose career I have watched since acquiring Elliman in 2003 when I joined the New York City brokerage community,” said Herman in a statement. “I am impressed by his experience, tenacity and his appeal to agents, managers and staff alike. Elliman is in excellent and very capable hands.”
Herman will stay on in an advisory capacity as vice-chair, while Durkin will continue to lead the brokerage’s operations, technology initiatives and strategic growth efforts across the United States.
Herman added, “I could not be more proud of the company that Howard and I created and am excited for its future.”
Herman sold her estimated 29% stake in Douglas Elliman for $40 million in 2018 to a subsidiary of Lorber’s Vector Group, which now owns 100% of the firm, according to Bloomberg.
Durkin joined Douglas Elliman in 2015 as executive vice president of acquisitions and growth, before being promoted to chief operating officer in October 2016 and president in 2017.
“Douglas Elliman has proven to be my most rewarding professional experience to date,” said Durkin in a statement. “I look forward to expanding upon the legacy of our brand built by my friend and mentor Dottie Herman as the market leader in luxury real estate. I also welcome the opportunity to further advance our technology-focused initiatives that allow our agents to work faster and more efficiently on behalf of their customers and clients.”
Durkin helped oversee expansion efforts in New York, Florida, California, Massachusetts and Texas as well as the successful re-structuring of operations in Westchester, Connecticut and the Hamptons.
“As president and COO of Douglas Elliman, Scott has taken our firm to the next level with major initiatives to strengthen our brand, our culture, our technology and most importantly, the way our agents conduct their business,” said Elliman Executive Chairman Howard M. Lorber. “Scott is a talented, solution-driven and results oriented leader, as demonstrated by his truly incredible performance helming the brokerage during the extremely challenging COVID-19 pandemic. He has established himself as a highly valued and respected executive and I am very proud to make this announcement.”