Douglas Ellimans hits a major growth spurt in California with the purchase of Teles Properties
Douglas Elliman was founded in New York in 1911 since then it has become the nation's fourth largest real estate company, with a current network of more than 6,000 agents in over 80 offices throughout Manhattan, Brooklyn, Queens, Long Island (including the Hamptons and North Fork), Westchester and Putnam Counties, as well as New Jersey, South Florida, Connecticut, Colorado and California. Douglas Elliman expanded into California back in 2014 with only one office in Beverly Hills, Michelle Oliver was one of the original agents to join Douglas Ellimans California region. Now almost four years later Douglas Elliman California has grow to over 200 agents and is excepted to open a second office in Malibu later this year. On July 31st, 2017 Douglas Elliman announced the purchase of Teles Properties, the acquisition will grow Elliman’s California region from one Beverly Hills location and an upcoming opening in Malibu to 21 offices from Carmel to Coronado with 630 agents total, making Douglas Elliman the second largest non-franchise brokerage firm in California. The acquisition also adds a Boulder, Colorado location to Douglas Elliman’s brokerage, which already operates in four locations, specifically in Aspen and Snowmass Village. Teles will be rebranded as Douglas Elliman in the fall but until then, it will operate as “Teles, at Douglas Elliman Real Estate Co.” The acquisition along with the new upcoming Malibu office is growing Douglas Ellimans California region rapidly but it doesn't show signs of stopping with talks of expanding into Northern California in the near future.