Join us and thousands of real estate leaders at Inman Connect New York on Jan. 22-24, 2025, to refine your business model, master new technologies, and discover strategies for the next market surge. The Next Chapter is about to begin. Be part of it.
Sticking with something that feels right can lead to success, as Stephen Kotler, CEO of Douglas Elliman’s Western Region brokerage, has proven in his over three-decade tenure with the firm. Starting as an agent in New York and rising through the ranks to his current leadership position, Kotler’s commitment to Douglas Elliman has been unwavering.
While primarily based in Texas now, Kotler also oversees operations in Aspen and LA, where he recently spoke to Inman in anticipation of his appearance at Inman’s Connect Austin conference on Oct. 9.
During the conversation, Kotler shared insights into his daily responsibilities at Elliman, his views on current industry challenges, and dispelled the myth that an election year significantly impacts the real estate market.
Read on for a condensed version of Kotler’s thoughts:
Inman: What does your role as head of Elliman’s Western Region brokerage operations entail?
Stephen Kotler: My focus is on overseeing operations in the Western Region, which includes states west of the Mississippi like California, Colorado, Texas, and Nevada. I am primarily based in Texas but also travel to Aspen and LA regularly to check on our businesses there. My day-to-day involves ensuring the company’s growth and success, as well as managing development marketing efforts in the states under my purview.
What are your goals for the Western region in the coming year?
My goals revolve around retention and growth. Retaining top talent and fostering their development is crucial, as is identifying and nurturing new talent within the industry. Additionally, in the development marketing realm, we aim to capitalize on opportunities that come our way through client relationships and showcase our expertise in the field.
Overall, Douglas Elliman is dedicated to quality over quantity when it comes to recruitment, focusing on individuals with potential for growth and success rather than solely top producers. By nurturing talent and identifying strategic opportunities, we aim to continue our trajectory of growth and excellence.
When we enter into a new development project, developers often bring us in early on to discuss the project, its amenities, and the architect. Our goals for the next year in development marketing include seizing opportunities to work with developers on selling projects and building relationships in new cities. This way, we aim to be the first company developers think of when they are ready to make decisions about their developments.
In terms of agents adapting to industry changes post-settlement, it’s a tough market. Those who can’t keep up with the new ways of winning business may transition to other careers. To counteract this, brokerages should focus on recruiting more business to increase revenue and volume.
I’m excited to moderate a new development panel at the upcoming event in Austin, focusing on urban living trends and economics. I look forward to hearing insights from industry leaders about how cities like Dallas are evolving culturally and economically.
Despite concerns about the impact of the election on business, historical data shows minimal differences in business activity during election years. Brokers are working hard to navigate the current market conditions, but as rates potentially decrease, we may see an increase in urgency among buyers and sellers. In the Austin market, there have been challenges in the first and second quarters, but recent data suggests a surge in activity, indicating a positive shift in the market. Discover the latest updates in the world of luxury real estate with our exclusive weekly newsletter, delivered every Friday. Stay informed on the most significant news and trends in high-end properties. Subscribe now to get your weekly dose of premium real estate insights. Contact Lillian Dickerson via email for more information.