Douglas Elliman Inc

Douglas Elliman announced a companywide AI overhaul, launching a new business called Elius to turn decades of proprietary real estate data into AI-powered products and market intelligence for external customers. The brokerage will also use Google Cloud's AI technology to automate operations across finance, marketing, commissions, and other corporate functions, with CEO Michael Liebowitz expecting a significant amount of headcount reduction over the next two years. Elius will be entirely owned by Douglas Elliman to retain sole ownership of its data and AI products, and the company aims to differentiate itself by building its own AI platform while remaining independent. The initiative is funded with existing cash and is not expected to materially affect finances in the near term, with lower technology costs and AI-driven efficiencies expected to offset much of the investment over time.