Big names in residential property team up

PropertyGuru

11 September 2014 at 5:17 am

Knight Frank Residential and Douglas Elliman Real Estate have launched a new residential real estate alliance today. Douglas Elliman and Knight Frank Residential are the fourth largest residential brokerage in the United States, and the largest independent residential brokerage in the United Kingdom, respectively. The firms combined network will now include 400 offices across 52 countries, and nearly 20,000 agents. The alliance will include co-branded offices, select top tier agents, and shared marketing of fine luxury properties. They will now jointly market more than $38 billion of prime and super-prime properties priced. Global Head of Knight Frank Residential Andrew Hay said, The strategic alliance between Knight Frank Residential and Douglas Elliman brings together the two leading agencies in the worlds two most important markets. The aim of the alliance is to provide a single market view, consistent expert advice and exceptional service. Douglas Elliman and Knight Frank Residential first began their strategic relationship in the 1970s through international referrals. Chairman of Douglas Elliman Howard M. Lorber describes the alliance as a testament to our shared history, vision, and commitment to our clientele. He added, With our group of top dedicated agents, the finest international properties, and in-depth global market analysis, we are offering our customers a truly seamless experience whether theyre in Malibu, Manhattan, or Moscow. With the number of Ultra High Net Worth Individuals (UHNWIs) set to expand to 215,000 over the next 10 years from the current number of 168,000, according to Knight Franks Wealth Report, the alliance will capitalise on this expansion and the prevailing trend for those individuals to own property in London and New York (pictured). Image source: Knight Franks websiteMuneerah Bee, Senior Journalist at PropertyGuru, wrote this story. To contact her about this or other stories emailmuneerah@propertyguru.com.sg

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